A close friend is a financial adviser working for one of the big 4 banks for +10 years. I contacted him and asked for assistance re. investing in managed funds. This is what he said he could do for me: - help me to pick a portfolio of managed funds that satisfies my requirements - will monitor the portfolio for me without any charge (said usually bank/fin. adviser would chage about 1% or more trailing fees for managing the portfolio) - so all up it would cost me about 1.5 % per year which is: roughly 0.8% managing fee charged by the fund managers + .5% bank admin charge (said so I can get into, and switch between those whole sales funds etc). I would still be a legitimate client of him and the bank. He said he had this flexibility not to charge managing fees for selected clients. Is this really a good deal ? or I am "just another client" of his ? Thanks in advance for any comments.