Fees

Investment Services are Not Free

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Rainbook
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"One-fifth of consumers think their investment services are free of cost", but in reality, investment services such as putting money in a mutual fund or entrusting an advisor to properly allocate your money has a cost.

Instead of investors paying directly out of pocket, fees are withdrawn "behind the scenes from a customer’s investment asset". If you're not paying attention, you can you lose a lot of alpha in fees--without even realizing it.

Fees are not inherently bad, but you should avoid overpaying in fees, which can significantly diminish long-term returns. Just as it's important to know that your fees are not unnecessary "junk fees"-- which there is currently a proposed ban on-- investors ought to be aware if they are paying fees at all, and how much these fees are costing them.

You can leverage Rainbook's Advisor Analyzer to get a full breakdown on the fees you're paying, as well as your advisor's performance.