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Online Help Leveling the Investment Playing Field

Boot Camp feature for Friday, July 7, 2006

Leveling the investment playing field. Bloomberg Boot Camp, a report on today's technology. The Internet has leveled the playing field in many ways….mom and pop retailers can have a global reach….so can writers and musicians. And the Retirement Corporation of America, a registered investment advisory firm, says it is leveling the playing field for the little guy…providing access to funds and fund managers that are often only available to the wealthy. Chairman Daniel Kiley…

"There's a huge part of the investing population here in America that feels left out and abandoned by the financial service industry. So in an attempt to serve those folks, we have used the power of the Internet and our Web site at moneymasters.com to deliver a product that we believe takes what investors dislike about the financial services industry and we've just attempted to right the wrongs. So we've done that by allowing access to any American to a registered investment advisor. That's pretty significant, because up until now most registered investment advisors had minimum account balances anywhere from 500 to a million and some as high as 5 million."

The service uses 15 so called top Money Masters who manage personally tailored portfolios in stock or bond funds. The company charges a 195 dollar one time fee to establish an account and a management fee of one percent a year. Bloomberg Boot Camp, I'm Fred Fishkin.