Whereas financial advisers have long been known for avoiding index funds, and their newer, exchange-traded fund brethren, for fear of not appearing to warrant their fees for providing active advice, that is changing, The Wall Street Journal. Advisers are beginning to see the merits of ETFs’ low fees, tax efficiencies and narrow slices of the market—and instead of leaving it to mutual fund portfolio managers to create a basket of diversified funds, many advisers are now driving asset allocation themselves by creating a basket of ETFs.


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