When I wrote my book, The Global Expatriate’s Guide To Investing, I spoke with a Raymond James representative about building low cost portfolios of index funds for international teachers. 

This was the idea.  Teachers with at least $20,000 to invest could pay a 1 percent wrap fee and Raymond James could use index funds that cost 0.15 percent or less. 

That’s the going rate for a low-cost index fund.  But if you use Raymond James, and you ask for a portfolio of index funds, make sure you are vigilant. 

You shouldn’t have to pay a commission for each index fund you buy. 

And your advisor shouldn’t stuff your portfolio with the highest cost index funds that he or she can find. 

Raymond James agreed to a 1 percent wrap fee and low cost index funds for the clients who wanted such a portfolio. 

But not every Raymond James representative appears to be playing fair. 

Image by Pixabay

I explain that here