Managed Futures Fund

[wj888]

I talked to a private banker before too about providing my services to the bank's clients. I was horrified to learn that the standard practice was to:

1. Park the client's money in the bank (of course);
2. Charge an annual wrap fee on the money (!);
3. Direct transactions through the bank's own high-priced brokerage (!!); and
4. Pay me kickbacks from the brokerage fees (!!!)

In other words, in exchange for agreeing to the client being overcharged, I would get a share of the loot. Obviously, the more I churned the client's account, the more brokerage fees he would incur - and the more I would get paid.

I decided I preferred a more ethical way of doing business and did not proceed.

Kudos to you on choosing the more ethical way to do business I choose to do ethical investing as well. I passed up on Genting and other vices-related (and military related) stocks as I do not want to be involved in destroying the life's of thousands.

Anyway, I've wised up and depend on myself more and more. I must say dividend collecting and coupon payments are damn addictive. haha.