By Rick Kahler via Iris.xyz
Before you put money into an investment, you need to know the fees that will affect your returns.
Unfortunately, discovering those fees isn’t easy. Here are some suggestions to help you ask the right questions and get complete answers.
1. Be prepared. When you meet with an advisor or salesperson, take a list of the six types of fees you need to uncover: up-front commissions, ongoing advisory fees, additional fees for services, fund manager fees (the expense ratio), miscellaneous fees, and transaction fees.
2. Do not assume that an advisor or salesperson will readily give you full or even partial information about fees.
3. Acknowledge your own emotional baggage around money questions. With our societal taboo around talking about money, most of us are reluctant to appear rude or to upset someone by asking about fees.