I have seen studies that show about half of all the gains from investing end up in the pockets of the "professional" money managers.
Managers hate guys like me who have learned to do it themselves and keep all of their gains. Even worse, I am teaching my kids to do this also -- and anyone else willing to listen.
I’dl like to see who backed the 401 scam. It led the lambs to slaughter. The average man is absolutely ignorant of the workings of the financial industry and the whole of the 401 scheme gave them a hunting license without a bag limit. I learned this later than I wanted to after I left the relative safety of a big company sponsored program.