Consumers should be informed of the costs they are incurring. Consumers should also remember that often you get what you pay for. Would you want the lowest price heart surgeon performing your heart surgery?
Compensation can motivate talent. In our competitive society, compensation allows firms to attract and retain talent.
Our economic system is designed to provide those who make the greatest contributions to our society receive the greatest rewards. Therefore some of the most highly compensated people are entrepreneurs, salespeople, entertainers, celebrities, sports figures …etc…

Low fees do not always yield superior performance. High fees are not always the cause of superior performance. High fees lower the performance of investment products. Low fees can compensate for the inferior performance of investment vehicles. The consumer of investment products must balance these facts with the uncertainty of future performance. This is a challenge for investors as well as investment providers.

When it comes to helping you invest your excess earnings so that someday you will become financially independent, do you want the lowest compensated person helping you, or do you want someone who is well compensated because they have over time delivered the assistance their clients are looking for to receive?
You may save some money by seeking low-cost funds, I especially like the passive index funds and chances are that you may outperform most investors by owning these funds. Historically most investors who purchase these funds do not outperform the relative market. The funds do outperform most investors but most investors do not outperform the markets. Why not?

Most investors sell at the wrong time and buy at the wrong time. Most investors do not have a good asset allocation plan. Asset allocation can be more than 90% of the rate of return of an investment portfolio.
A professional, investment advisor is not a charity worker. There is nothing wrong with charity work. I serve as President of the Board of Gramercy Housing Group. Our website is www.gramercyhousinggroup.org, please visit us. We can use all the help we can get. Charity work is a great way to give back to our society.
A professional, investment advisor is compensated by their clients. Their costs are fully disclosed. A professional investment advisor is able to assist clients in achieving their financial goals.
Competition forces all in the financial services industry to minimize their costs and maximize the rate of return for their clients.

Costs alone should not be the driver of who the consumer uses or doesn’t use to assist them in achieving financial independence and sustaining their financial independence. Costs relative to performance are what should be the driver in the selection of financial services. Performance is measured by the rate of return the clients receive working.
When your plane is going down lying on the operating table you want a competent, well-compensated person handling the controls. When you are investing you should want the same.