What kind of fees and charges are associated with personalized investment?
Curious about personalized investment
The fees and charges associated with personalized investment can vary depending on the provider and the type of investment account you have. Generally, there are two types of fees:
1. Management fees: These are fees charged by the investment provider for managing your portfolio. They can be charged as a percentage of your assets under management, typically ranging from 0.25% to 1% per year. Some providers may also charge a flat fee, which can range from a few hundred to several thousand dollars per year.
2. Transaction fees: These are fees charged for buying and selling investments within your portfolio. They can be a flat fee per trade or a percentage of the transaction amount. Transaction fees can vary widely depending on the type of investment and the provider.
It's important to carefully review the fee schedule of any personalized investment provider before opening an account to fully understand the costs involved. Some providers may also have additional fees, such as account closure fees, transfer fees, or inactivity fees.