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Dave Nadig
3:27
So as brics have become less a thing, that exposure has just gone into EM etfs.
Nah-dig or Nay-dig?
3:28
Between the all of the divisions in the SEC, Finra, the ICI, the exchanges, all of the attorneys and all of the compliance officers and compliance rules... is ANYONE addressing the fact that this industry is turning into a monopoly in front of our eyes?
Dave Nadig
3:28
Love the name:  and either is correct (not helpful I know, but families are weird).
There's not a lot of doubt that Vanguard/SSGA/Blackrock suck up a lot of the flows.
3:29
But I do think it's also worth noting that there are over 80 issuers now -- a decade ago there were half that many.
And the fastest growing firm last year wasn't one of them, it was JPM
So there's a surprising amount of activity going on.
As far as "addressing" it, I'm not sure exactly what that would even mean.  Do you honestly think someones going to get the FTC to actually step in and break up Vanguard? Or Blackrock?
3:30
Im not sure I see much in their practices thats hugely "monopolistic."
I supposed you could create a case that the fee wars are a kind of "dumping" to flush out competitors, but the biggest pushers of the fee wars havent been the big guyus
its been Schwab, Fidelity, Graniteshares, etc...
3:31
So while you might not like how big some of these firms are, I don't see them as being unfair in their competition.
Wow, so many questions.  Sorry, I'm not going to get to them all, but I'll grab a few quickies here.
Sadie H.
3:32
Dave: If investors were to “interview” financial advisors before hiring them, what’s the main question you’d recommend asking?
Dave Nadig
3:32
This is a fantastic question, and I'm actually not sure I have the perfect answer.
I think the most important thing is what questions THEY ask.
3:33
Perhaps the  most telling thing you could ask is how often, and about what, they communicate with their clients.
You'd get a lot of different answers. Some advisors see themselves as portfolio managers, and their client communications are all about the markets, and what they're doing with investments.
3:34
Some would say that a quarterly call is their most important thing, because they're really financial planners who want to understand whats going in their clients lives, not just whats going on in the markets.
But honestly, a good financial advisor asks GOOD QUESTIONS, much more than having a good elevator pitch.
3:35
OK, sorry I've run out of time here.  SO many great questions still in the cue, I hope you'll come back next week and toss them in.
Be sure to check out the ETFPrime podcast each week as well, where we hit on a lot of these topics as well.
Have a great afternoon everyone!
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