I know a lot of people have their accounts at major brokerage firms. Something you may not know is that several of the “big firms” are getting paid extra by the mutual funds they sell. It’s called Revenue Sharing.
Take Edward Jones for example, last year 27% of Edward Jones profits were Revenue Sharing payments from American Funds. This is why virtually every client’s portfolio at Edward Jones contains a large sum of American Funds – the company is getting paid extra to sell them over everyone else! This just goes to show why working with an independent advisor can be a much better choice and removes a hidden agenda such as “Revenue Sharing.” This information is great ammo to keep and educate yourself on what’s really going on in your portfolio and to help you make the best possible decision for the future of your retirement.
Click here to see the article for you to read for yourself. Make sure and read the first paragraph as it says there is a potential conflict of interest.
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