It's my choice. You and I both know that this is not true. 6 years ago I decided to not fight the tide and switched to fee-only. Don't take Bob Veres so seriously. To me, it's only semantics.
Most mutual funds charge slightly more than that and the fund managers do all the work.
Just an observation. Well, something like that. Below are the comments I made to Loren and I feel they're appropriate to yours as well. I work tirelessly for my clients both on the asset mgmt side and the financial planning side. It's my choice.