I’ve had many clients come to me saying they were paying their old adviser somewhere in the neighborhood of 1% a year. Arguably, that might be appropriate, especially if the adviser provided a valuable service. However, when I show them that they were paying 3% or more in total fees, they are usually stunned.

Invest to win 2007
Money Magazine’s new list of best mutual funds. Plus: 5 perfect money makeovers.

Fannie, Freddie shares gain after OFHEO comments (Reuters)

Reuters - Shares of Fannie Mae and Freddie Mac , the two largest providers of U.S. mortgage finance, rose after their regulator said on Tuesday that they should have adequate returns to raise capital.

Stocks rise modestly on oil decline, Bernanke talk (AP)

AP - Wall Street struggled to notch a gain Tuesday amid sinking oil prices, with investors still jittery about the ailing financial system and weak economy ahead of second-quarter earnings.

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