Within Your Reach -- Investing -- September 12, 2023

Locator: 45624TECH. 

Personalized direct investing. Custom indexing.

Links embedded in screenshot:

It was particularly noteworthy to see the "Fisher" ad. The Fisher ad says their fees are "transparent." Perhaps, but you have to provide personal information. Minimum investment: $500,000.

Schwab: fee -- 40 basis points and $100,000 minimum investment. The fee drops to 35 basis points at a high level of investment.

Schwab says Fidelity also offers the investment opportunity. I was unable to find specifics, but I did not look very hard. At the website, wealth management eligibility, generally $250,000 with fees of 50 to 150 basis points. My hunch: Fidelity will match Schwab's Personalized Indexing. This may be Fidelity's "personalized direct investing." But perhaps not, I don't know. If not, Schwab (and mostly likely Fisher) have added a most interesting feature.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.  

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.

The evolution of personalized investing:

• mutual funds: my dad's generation
  
• ETFs: my generation
  
• personalized direct investing: my daughter's / grandchildren's generation
  

IIRC Schwab introduced personalized direct investing in October, 2021. This has been available to high-dollars clients ($10 million in investment assets) and had very high fees. Schwab makes this investment tool / feature with a minimum of $100,000 and a fee of 40 basis points (0.4% = 0.004 as the multiplier).

Again, I also make simple arithmetic errors. 

Schwab, apparently brought this investment vehicle to market, after polling its customers to find the #1 feature their clients wanted, or the #1 complaint they had about individual investing or the #1 thing about which investors were most concerned. My hunch: readers can guess the answer.

I may come back to this but mom-and-pop investors may want to explore this investment tool previously available only to the very wealthy.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.  

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.

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The Periodical Page

I subscribe to a fair number of periodicals. Many arrive each week and often I find myself paging through them and never reading them. I have most difficulty reading the Claremont Review of Books (conservative) and The New Yorker (liberal).

But I have a new resolution: I must read and take notes -- yes, take notes -- on at least one article from one periodical (print edition) every day. 

I just finished a most delightful essay on baseball in the summer, 2023, issue of Claremont. 

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Apple

I just saw the Apple autumn presentation on the new Apple Watch, series 9; and, the new iPhone 15. The presentations, since the Steve Jobs' era, have become too slick -- a one-hour television commercial. They've lost the spontaneity and excitement that Steve Jobs used to bring to these semi-annual presentations. I'm glad I watched it from start to finish but had I missed the presentation, I would not have "missed" anything of substance.