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Episode 260: Prof. James Choi: Practical Finance

The Rational Reminder Podcast

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The Role of the Financial Advisor in High Fee Index Funds

There is a level of paternalism that could come in and we think it's quite appropriate when we don't let our five-year-old eat that third piece of cake. When your kid says that he wants to eat another piece of cake, he's really, really upset when he don't let him. And so that's just a value, kind of a non-consequential value that we attach to liberty. Why do investors invest in high fee index funds when lower fee options are out there? I think there's ignorance.

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