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
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quit hogging the blunt man
Why is it wack?
https://i.gyazo.com/87a3751f66e0df150154ec3ac7f3c44d.png</a">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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