Sarah Krouse
speaker
133 appearances
3 recordings
1 series
first heard Apr 2018
last heard Aug 2020
Sarah Krouse’s voice in public audio — every appearance, attributed to the second.
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Appearances
So it depended previously on the assets under management, the investing style, the level of interaction that a customer wanted with the company, their tax needs, etc.
So it was sort of an a la carte type system for paying for the wealth management services that a customer was getting, whereas now it's more think of it as a sort of prefix type approach based on assets.
Right.
Fidelity is one of the bigger asset managers and wealth managers out there.
Their business model spans a lot of different lines, money management, wealth management, brokerage.
But they're a name that investors, large and small, really keep an eye on because they are so big.
Yes.
For Fidelity, the gross fee, so keep in mind, it does in effect end up being somewhat lower.
But the gross fee for the clients with the smallest account sizes is 1.5% of assets.
And so it sort of moves downward from there.
But yes, it is.
And the average cost of advice that we cited in our story today was about 1.3% for customers with $100,000 or less.
Thank you.
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