That would be more conducive to finding managers than to rely on an invite-only process.

In the context of an IRA or 401(k), there should be managers who do better than tax-efficient funds. When it comes to taxable accounts, I think it's relatively rare to find a manager with a high turnover approach that does better than one with a tax-managed approach.

In the context of an IRA or 401(k), there should be managers who do better than tax-efficient funds, ... When it comes to taxable accounts, I think it's relatively rare to find a manager with a high turnover approach that does better than one with a tax-managed approach.

It's really paid off to have active managers like Bob Stansky during the first six months of the year. Fidelity managers really took advantage of the market correction in April and May to add to their tech positions.

The value to the community far outweighs the risk.

This was marketed as a law enforcement tool.