One of my brokers offered me a wrap account. For 1.25% EACH YEAR, he'd recommend some index funds and a few obscure foreign funds (likely to make it look like he's doing some research). Over a human lifetime of investing, that asinine wrap account would cost me the great majority of my considerable wealth.
His problem is that I HOLD index funds and blue chips for years, a very inactive account that made me tons of money, but little for him.
What a joke these brokers are. The majority of my funds are with Vanguard in funds with expense ratios well under 0.10%.
I'll be moving that account elsewhere. ASAP Can't wait to WRAP things up with him. LOLOL!
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Because the Good Life is Just a Pump or Two Away