Who needs a traditional brokerage firm anymore?

[bucolic_frolic]

9. My Take

after decades of floundering, is that all types of brokers have a place
in an investment portfolio.

Trade your own account? Sure, but watch those stops, and do lots of
reading of books on how to invest. There is no substitute.

Managed ETF and rebalance? Sure. It's a no brainer. Some are very reasonable,
1-2% annually or less.

Major mutual fund company? Yes, just don't expect advice. I always
try to invest when the market is in a down period. Crash is even better.
No matter how much they tout indexing, timing is important to the extent
that investing at the top is a killer.

Major brokerage? Yes, for complex investments, perhaps MLPs, or global
stocks, or annuity or tax planning. Make anyone who's charging
full commission - 7% I think I'm aware of what Main St. firm that is - make
them earn their fees. You want their best recommendations for the future Pricelines,
Amazons, Apples, and Proctor & Gambles of the world. Something you can put aside
for 30 years and have $2-4000 grow into vacation home equity.