Thanks for all the info everyone, much appreciated. If I get a 1099 every year from my portfolio manager, then essentially there is no tax benefit to using a manager (assuming the same investments). This is exactly what I wanted to know, thanks.

I’m not saying there’s no benefit mind you…just saying there’s no tax benefit.

Thanks for the info about the ETFs…i’ll give that a look as well.

Is it just me or is our tax system a bit complicated? Flat tax anyone?!