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Burst Details

Advisor, Boone, Nigel discussed on The Money Guy Show

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2 years ago

Automatic TRANSCRIPT

Ten years isn't that long especially the wounded in mutual funds the commission funds have seen one trillion dollars about flus oh why we're talking about these ashares bshares c shares froing load backload backload by backload used to be an issue i mean one of the greatest ways i used to try to get business is when i had somebody come in that was working with the commission advisor and i'd find out they had a whole portfolio bshares the big bshares came around and i'm giving way too much information but bshares came around and compete with no woods because the the commission guys were charging you know on the shares that was the most popular three to five percent and then no load started coming out and people were starting to move assets there so they said well we got to create a product that doesn't have a front end commission so they said well we'll do a bshare in the problem with shares was at the time the internal expense ratio was through the roof they were just basically moving squeezing the boone and taking the commission the fee through the big kickbacks or paying through the internal expense ratio will listen to this number and as a result those front and back in load classes are falling in two thousand seven twenty seven percent of the mutual fund industry was those front and back into the loaded nigel funds in twenty sixteen it was fourteen percents cut in half i mean those things these things back in commission funds are going to go extinct meanwhile no funds i just told you one trillion dollars disappeared from the commission funds with outflows no owed funds had net inflows over the last ten years of one point nine five trillion close to trillion dollars in just amazing they increase from fifty one percent of mutual funds in two thousand seven to now they're sixty seven percent of mutual funds at the end of two thousand sixteen so he's great friends a big migrations going on where people are getting away from commissions in going to know loads.