Correct, but his video used a his own info & actually showed an avg mut fund expenses to be 3-4%
2018 avg actively managed equity mutual fund was .76% & bond fund .55%. avg passive index equity fund .2%. his video was stating expense ratios of 5-20x that amount. Do you think that might have a little impact on a piece of software not provided by the IUL carrier being presented. Using such software to directly compare costs & features of investments & insurance is definitely playing in an industry you may not be licensed to be.
Generic FINRA tools that a consumer can use are a different & more acceptable tool
Average mutual fud expenses are a misleading metric because they take into consideration funds that are built for the adviser market where fund level exps are only part of the total expenses investors pay.
e.g., Advisor allocates 35% of my portfolio to fidelity S&P 500 fund. Very low exp, tons of assets in it, but he layers on 1%/yr management fee.
For actively managed funds the management fees are only part of what investors pay. Investors are still charged for trading and some other costs that are not known until they happen.
A better measure IMO would be the expense that the average investor pays to invest. That number is north of 1%/yr (I want to say 1.45% but would have to go find it.)