Abstract
The goal of this study is to bring some degree of closure to the question of why mutual fund investors employ financial advisors. The basic reasons for investor utilization of financial advisors must involve aspects of 1) basic ignorance of fund investing, and thus the additional costs they pay, or 2) knowledge of fund investing but with overriding considerations that compensate for the higher costs, such as convenience.
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Why Do Mutual Fund Investors Employ Financial Advisors?
