A new website launched by a financial journalist turned investor advocate slams the mutual fund industry in an 11-part series for charging investors too much through revenue-sharing agreements and 12b-1 fees.

The publisher of mutualfundreform.com, Chuck Epstein, also says that the industry is focused on the market’s turnaround, rather than on meaningful reform or changes. He believes the mutual fund industry needs “to become more competitive, more innovating, more transparent and less commoditized.”

The series cites:

▪ The lack of industry leadership and need to realize the need for new

▪ The decline in investor confidence;
▪ The failure of 401(k)s to deliver on their implied promise of providing retirement security;
▪ The open questioning about the role of capitalism;
▪ The failure of traditional diversification investment

▪ The need for industry regulation;
▪ The need for new ways of looking at investing and what it can and cannot deliver to investors.


"All this is necessary if the mutual fund industry wants to remain committed to helping shareholders reach their financial goals, as opposed to helping mutual fund salespeople, investment advisers, and fund company executives reach their more lucrative financial goals first." Epstein said. "In short, it's time load mutual fund companies put the interests of their shareholders first."

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