You can get rich by managing rich peoples money.
Someone can become rich by helping the rich invest their riches to make them even more rich.
That's wack
Someone can become rich by helping the rich invest their riches to make them even more rich.
That's wack
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quit hogging the blunt man
Why is it wack?
lol
I'm not in the industry so wondering what this graph is representing? What's 0.06% and 2.27% representing?
Passive is computer controlled, active is paying someone to do it. Basically saying, paying someone to do it for you yields significantly lower than having a Vanguard fund.
Some lawyers get rich by protecting rich people from other rich people
Ummm...people who do this, OP, are incredibly important to a well-functioning economy. They're allocating capital to the most efficient uses in the economy, which includes companies that need financing to grow.
I sat on the board of a smaller foundation, and we had to find out how to invest saved up capital (tens of millions. I shit you not, it had been sitting on a savings account up to that - for YEARS - as they had burned themselves 15 years ago on some shitty managed funds).
The process went like this: Hire a consultant, get told which investment firms to use -> contact firm, get in touch with a wealth manager -> Get pitched a couple of mediocre cookie-cutter fund.
You have to understand, the majority of the board consisted of absolutely clueless (financially speaking) people, who were more than willing to pay a nice fat premium for additional hand-holding and 24/7 support/availability.
I suspect this is rampant for similar entities, and is essentially how many people in the industry manage to stay alive (and thrive).
r/woosh
fucking moron
r/im14andthisisdeep/
No fucking way
Right. Wealth management companies earn this way. I recently joined Life Long Wealth Management Group as an intern.
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