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The erosive impact of excessive fees
Legal Disclosure: Tony Robbins is the Chief of Investor Psychology at Creative Planning, Inc., an SEC Registered Investment Advisor (RIA) with wealth managers serving all 50 states. Mr. Robbins receives compensation for serving in this capacity based on increased business derived by Creative Planning from his services. Accordingly, Mr. Robbins has a financial incentive to refer investors to Creative Planning.
In the September issue of 401(k) Specialist Magazine, Tony teams up with investing legend Jack Bogle to share an important message for anyone looking to get more out of their retirement plan.
“We’re here to disrupt and give people an alternative that’s truthful. We’re sure there will be other disruptors coming up, but now it seems we’re the first,” Tony says in the article, the digital copy of which is now available online.
He’s referring to the tyranny of compounding costs, or the way that excessive costs embedded within many 401(k) plans, ultimately eat away at the potential earnings. A reduction in fees could add 10 to 20 years of retirement longevity to the portfolio of many investors. Excessive fees plague the industry and as a result, Tony has become an owner and board member of America’s Best 401(k), a full service offering that is slashing investment fees and disrupting the status quo by touting “No Brokers, No Commissions, No Nonsense.”
Read more about Tony and Jack’s plea to the industry to start putting plan participants first, to remove all conflicts of interest and to stop concentrating on how they can charge more fees:
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