Financial Management Fees?
We have met a financial advisor/broker who works independently and uses a brokerage house to manage the funds. She charges 1% to manage the portfolio but does the trading/buying through this large brokerage firm. She is not hired by this firm but uses them to do the trading.
We notice the brokerage firm charges fees and there are fees involved with buying and selling.
I do not understand any of this and if this is a normal way to do business. Some funds have load fees or charge transaction fees. I assume that is normal.
What has me confused is if it is costing us more to go with an independent broker than to work directly with the brokerage firm?
I hope this makes sense,