Excerpt from The Globe and Mail article:
Written by John Heinzl
Earlier this year, I wrote a column about the tactics that some unscrupulous advisers use to extract more money from clients.
Well, that column only told half the story. The truth is that clients themselves often bear part of the responsibility when their portfolios underperform.
This thought occurred to me as I was reading Chris Turnbull’s book Your Portfolio is Broken: Who’s to Blame and How to Fix It. A former broker with one of the big bank-owned firms, Mr. Turnbull built a client base with more than $100-million in total assets before he left the company and became an advocate of passive index investing.