Ask Terry Questions Commission


By Terry Savage on April 06, 2019 |

I pay a 1% commission fee quarterly to my financial broker (retirement account) regardless of good times or bad, what are your thought?

Terry Says

That’s confusing.  You have your terms and times mixed up.  You pay a commission on purchases of stocks or mutual funds.  You pay a “fee” for money management services.  I personally think a 1 percent ANNUAL fee (which may be paid on a quarterly basis) is a bit too high.  I know that you would pay a LOT less if you took advice from Vanguard or Fidelity.  So if your broker isn’t making a lot of money for you with his/her ideas for investments, I suggest you contact one of these fund companies.

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