1% Myth: What Wall Street Doesn't Want You To Know

This episode of Planning Made Simple explores the hidden costs behind the widely accepted "1% fee" in the financial industry. Paul Durso, along with Kyle Morgan and Niki Erb compare financial services to premium experiences like high-end restaurants, where value is emphasized over price, and explain how flashy ads and lavish offices are ultimately paid for by investors. They dig into industry data, revealing that the actual top-line revenue from financial services is closer to 10% of total assets. The conversation uncovers how fees—often buried in products like mutual funds, annuities, and 401(k)s—add up beyond the obvious advisory fee. It's a revealing look at where your money really goes in the world of finance.

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