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That is not unexpected, as they were a great source of mutual fund advice when they first started, for a very reasonable fee. Several years ago they stopped publishing their NLFA newsletter and the only way you could get their advice was paying a 0.7% fee to manage mutual fund accounts. It is not surprising that adding 0.7% fee on top of mutual fund fees did not prompt large inflows.
Actually when they moved to separate managed accounts I went back and calculated the performance of their four portfolios and compared them to indexes. They usually managed to trail the asset allocation of indexes, but with some less volatility
They were a great firm to help me learn all the ins and outs of mutual funds and asset allocation.
The internet age has enabled information more readily available to average investors. This change is inevitable. LG's expertise on mutual fund business, asset allocation and NLFA newsletter were excellent as pointed out by @sma3. I still received invites to their webinars even though we have learned much from them.
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Actually when they moved to separate managed accounts I went back and calculated the performance of their four portfolios and compared them to indexes. They usually managed to trail the asset allocation of indexes, but with some less volatility
They were a great firm to help me learn all the ins and outs of mutual funds and asset allocation.
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