The Financial Industry Is Having Its Napster Moment
I kind of get the sense that perhaps some people are upvoting this article because of the title and they just agree with the sentiment.  Which is fine but I don't really think this article is saying anything new here.Actively managed mutual funds are going away fast and that's to everyone's benefit.  Some were charging 2% yearly plus a fee when you bought or when you sold( redemption fees).  I can't think of a single reason that anyone should have any money in an actively managed mutual fund.If there is a continuum of hedge funds to ETF's, actively managed mutual funds are literary the worst of both worlds.  High fees and low ability to make returns.From where I sit, the biggest jobs that are in danger are sales jobs.  There used to be teams of people at mutual fund companies whose sole job was to sell their products  to Investment advisers at brokerages with the hopes that the advisor would put their clients money into these funds.As someone who is on the side of actively managing money, I see this as a strong positive.  The more passive money there is sloshing around the more arb opportunities there are!