We’ve seen our share of investor mistakes in our experience — it’s natural that an investor makes mistakes but doesn’t go on to repeat them. Yes, the markets change, circumstances change, but if an investor can learn from those bad decisions, they can become a better investor.
The answer is clearly a No and you should not pay exorbitant trustees fees. Trustees are entitled to “reasonable” compensation and state-of-the-art trust document normally explicitly provides for such in a separate charging clause.
It is generally accepted that ‘performance’ is the overriding factor in selecting an investment manager. In my opinion, there are other factors of equal importance when choosing the right investment manager.
In April of this year, Reuters reported that Visa Inc. topped Wall Street targets for quarterly profits and raised its full-year earnings forecast as more people use credit cards worldwide to buy everything from gas to online goods.