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Bob Dockendorff's avatar

Question about this....when you recommend converting an SMA into an ETF to defer taxes wouldn't that only be attractive if the ETF had a lower expense ratio than the SMA? Generally direct index strategies are 20bps and lower....these ETFs look like they have expense ratio are much higher than that. I could see converting an expensive active SMA but not a direct index. Am I wrong about that?

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