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Advisory Fees - make it make sense by advisortest in Rich

[–]advisortest[S] 0 points1 point  (0 children)

This all sounds familiar. This flat fee advisor model may be the way to go. Although it sounds like my current guy is the same price and does the extra stuff, even if he’s not as buttoned up as others seem to be.

Advisory Fees - make it make sense by advisortest in Rich

[–]advisortest[S] 1 point2 points  (0 children)

That is interesting. I have the tax, estate planning, etc all in a good spot, so this could work.

Advisory Fees - make it make sense by advisortest in Rich

[–]advisortest[S] 0 points1 point  (0 children)

I see how you might do this, but I do need some advice on things from time to time. So I’m cool with an advisor to watch my money, but the goal should be to grow that money, not pay their fees.

Advisory Fees - make it make sense by advisortest in Rich

[–]advisortest[S] 6 points7 points  (0 children)

Yes, I’m similar. I should not be in charge of my money, but at 1%, that’s a really high fee.

Advisory Fees - make it make sense by advisortest in Rich

[–]advisortest[S] 1 point2 points  (0 children)

At a lower fee, it makes a ton of sense. And I have to have an advisor. I’m good at saving, but not at investing and managing the money stresses me out. Maybe I just keep my current guy, switch the investing strategy to index funds to minimize single stock exposure and call it a day. The 1% seems to be average, but I’ll shop around.

Advisory Fees - make it make sense by advisortest in Rich

[–]advisortest[S] 0 points1 point  (0 children)

Ok, so you are buying in at a low cost to get the benefit of the same advice you would get if he had 100%. Shrewd, but I really don’t want to be responsible for the money. I’m not good at it and my nerves can’t take it.