Aaron Freeman / Money Talks News
When I worked as a Wall Street investment adviser back in the ’80s, there was basically only one way we got paid: commissions. When I bought or sold shares of stock, the client paid about 1% of the value of the trade. When I sold an annuity, I got paid 4%. When I sold a mutual fund, the commission was anywhere from 2 to 7%. So back then, advisers made a living by taking a slice out of whatever…
