Dear Mr. Goldring, you do a wonderful job of artfully dancing around the main issues of investors paying for services that often they don't know they're paying for, they don't know the cost of and they don't use/receive.  You also avoid mentioning the massive negative impact of embedded fees on client returns, a huge problem in a low-return world.  Who knows, though -- maybe you'll successfully contribute to delaying the arrival of transparency, fairness and a fiduciary duty in the investment industry.  Do consider, however, if you want to have articles like this associated with your name in five to ten years time when clients will hopefully have woken up to these issues.