Quote:
Originally Posted by kazana
No. He said several times that he does not get any kickbacks - unless you think he's lying, of course.
This is not what he he says. He gets a kickback from his ELPs(Endorsed local providers) but has defended it saying that they have to pass his criteria(heart of a teacher etc....)
He also gets pretty mad when people bash loaded mutual funds and makes a pretty pitiful defense of paying the fees connected. He also says he uses them but I've also heard him say he buys low cost funds with Vanguard.
I'd love to see his entire portfolio......
I'd guess he has a small holding through his 401k with the American Funds so he can say he uses the same stuff and technically be telling the truth. Then he probably has a brokerage account with Vanguard where he has a ton more money invested in low cost funds where the bulk of his investments are.
With his overall strategy it's totally disingenuous for him to be telling people to use a broker and pay loads when people can simply buy an index fund or total stock market ETF super cheap, of course then he wouldn't get his kickback.