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Whose side is your stockbroker on?

June 17, 2012
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The job of a stockbroker is to transfer the wealth of the client to themselves, says financial author William Bernstein. Around 2% or 3% of a client's portfolio value every year ends up in the stockbroker's wallet - and over 20 or 30 years the stockbroker could own more of a client's assets than they do.

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