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Barclay
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Scott Barclay is a 25 year veteran of the markets, a former stockbroker and financial advisor who worked for wall streets biggest brokerage firms. Barclay is now a financial writer, author, blogger and highly sought after speaker. Barclay is the author of the very well known and successful book... More
My company:
Money, Finance and Investing LLC
My blog:
How The Investment Business Really Works
My book:
How The Investment Business Really Works
  • Wall Street Brokerage Firms Raked In Billions In Fees Last Quarter 0 comments
    Jan 23, 2014 1:38 PM

    In the most recent quarter, Wall Street brokerage firms brought in billions in fees and commissions. Do the clients of these firms realize they are the sole source of these massive profits?

    I doubt it.

    There is absolutely nothing wrong with making a profit when you provide some kind of service or value. I know when I buy a suit, there is profit built in, that's ok, I cannot make a suit. I know when I visit the doctor, he and others make a tidy sum off me but that's ok, I cannot diagnose illness.

    The same is not true of your financial guy. He provides little, if any value and takes a massive fee for doing so.

    Investing is alot easier than you have been led to believe, its neither difficult nor time consuming.

    Put your investments in the hands of the person who cares about it most - YOU !!!

    Themes: Brokerage, Firms, Profits
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  • Wall Street Brokerage Firms Raked In Billions In Fees Last Quarter http://seekingalpha.com/p/1jvev
    Jan 23, 2014
  • Its important for investors to know what a 1% fee really costs. On an initial 10k, over 30 yrs at 8%, that 1% fee cost you $22,634.
    Dec 13, 2010
  • A former stockbroker, I have come to the safe conclusion that time spent trying to beat the market is wasted, pay off your house and buy VTI
    Apr 22, 2010
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