Morgan Stanley , Merrill Lynch, and Edward Jones are three well-known financial firms that charge excessive investment management fees. This video explains how paying the typical stockbroker fee could put your future Retirement plans at risk.

⏰TIMESTAMPS
00:11: Popular Financial Brokers
00:49: Typical Stockbrokers Fee Are Off the Charts High
01:33: A 1.5% Annual Fee is a Very Big Deal
02:10: Solution to Costly Financial Advice

Source: https://larrybates.ca/t-rex-score/

Reach out to learn more about our wealth management services. Book a call with me today!
▶️ www.sensibleportfolios.com

Subscribe and never miss a video!
▶️ https://www.youtube.com/@therealpeopleadvisor

Connect with us:
Linkedin ▶️ https://www.linkedin.com/in/lenaarmuth/
Instagram ▶️ https://www.instagram.com/sensibleportfolios/
Facebook ▶️ https://www.facebook.com/search/top?q=sensibleportfolios

#lowcostfinancialadvisor
#morganstanley
#edwardjones
#merrilllynch

__________________________________________________________

🎥 TRANSCRIPT

Do you work with a retail broker with the first name Edward, Merrill, or Morgan? If you do, then you might want to grab a seat and pay attention. I’m revealing the shocking truth about these brokers, and how they’re putting your Retirement years at risk.

I’m Lena Armuth, the Real People Advisor. And I’m here to teach real people like you how to avoid overpaying for financial advice.

Today we are going to talk about the hazards of working with a stockbroker from one of the large national firms like Morgan Stanley, Merrill Lynch or Edward Jones.

Now, I know you’re thinking – these big-name brands are supposed to have your best interest at heart, right? They have nice, friendly commercials and sponsorships on TV. Wrong! They’re actually compromising your future Retirement lifestyle.

Here’s how.

A typical stockbroker’s fee is about 1.50% of your assets annually. Some brokers charge less while others charge even more. While I’d argue a lot of financial advisors charge too much for their services, fees from these firms are off the charts – so high that your broker arrives on Wall Street in a Rolls Royce while you take the Subway.

But let’s face it – the Morgans, Merrills, and Eds of the world charge high fees because they can, and they know investors will pay it.

The worst part? Most investors don’t even realize how excessive that fee is, or they don’t know where to find a more affordable alternative.

Here’s what I mean. Paying a management fee of 1.5% each year may seem small, but over a 20 year period, it becomes a very big deal.

A $1M investment returning 6% each year, turns into $2.2M over 20 years, roughly.

But that 1.5% fee will costs you. And it will cost you dearly. After paying that fee each year for same investment, your balance only grows to $1.4M.

Your broker’s fee reduced your earnings by over 30%!

There is a solution and it is simple. Work with a fee only independent advisor, who charges 70 – 75% less than the average national broker.

Don’t let their fancy marketing and sleek offices fool you – you can find equally competent financial advice without breaking the bank. This could make the difference between working more and retiring when you want.

If you’re looking for financial advice and Retirement planning that would break the bank, check out www.sensibleportfolios.com.

If you liked today’s video and you want to watch more like it, be sure to subscribe to my channel. You don’t want to miss out on future videos like this.

I’m Lena Armuth, see you next time!

Lena Armuth Host at Retirement for Real Podcast

My mission is to make investing simple and affordable for real people, everyday investors like you.

You deserve access to the tools and resources you need to build a better financial future. That's why I'm committed to providing high-quality content that is accessible to all.

I work at Sensible Portfolios, a family-run, financial advisory firm that has served hundreds of clients for almost 30 years. At Sensible, we follow a few basic rules: Be nice to people, keep investing simple, and don’t charge high advisory fees.

So what are you waiting for? Join my community of sensible investors and start building the wealth you deserve!