How would you like to make an extra $640 per year? If you have $100,000 in mutual funds, there’s an easy way to do just that, while annoying your adviser, all at the same time. Namely: the Mutual Fund Maximizer, offered by Questrade. The service was launched back in 2009, although I’ve only now learned about it.Details can be found here.
If you have no idea how your advisor gets paid, chances are they are commission-based. What that means in plain English is that they earn a fee, paid to them by the fund manager, that comes out of your portfolio. For equity or balanced mutual funds, this trailer fee typically ranges from 0.5% to 1% of the fund value, depending on whether you bought a back-end* or front-end load fund.
For the full article:
http://weighhouseblog.wordpress.com/2010/03/26/clickworthy-an-easy-way-to-reduce-the-mer/
Dan Zwicker.
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