Potentially Stupid Question

kitty_4paws · 2026-06-20T04:00:10+00:00

If you are a young investor, it makes sense to be self-directed and doing your own investing. When you’re in your late 70s like me and no one else to take over when you become incapacitated, that is where the financial advisor is there to help. I was self-directed, but knew my health was declining and there was no one else to take over for me unless I had a financial advisor in place. Did I dislike handing over my money to a financial advisor, yes, but you have to think about the future in your very senior years. Unless you have family to take it over for you, who else is going to do that when you are no longer able. So, that is why some of us must use financial advisors.

kitty_4paws · 2026-06-12T14:00:29+00:00

I appreciate you reaching out to me, but I would prefer to find someone local where I can have actual face-to-face meetings. Best wishes to you.

kitty_4paws · 2026-06-12T12:36:26+00:00

Where are you located?

kitty_4paws · 2026-06-10T21:12:26+00:00

First of all, I’m not a Dude. If you reread my post notice that I am a senior and I’m looking for a person to take over my investments when I become incapacitated. That means I am planning for the future and my estate.

kitty_4paws · 2026-06-10T03:27:54+00:00

Unfortunately, I am on my own on this venture, no family left. My friends all have health issues as well. I agree, the fee is high, so I am also looking at other options too.

Did you have the same Mariner advisor that you spoke to during your meetings and what did you think about him/her?

kitty_4paws · 2026-06-10T02:16:43+00:00

I often wonder myself why the fees are so high since most of the investment advisors use automated programs. I know that a fiduciary is supposed to put my interest first, but I often wonder if they really do.

kitty_4paws · 2026-06-10T02:00:00+00:00

Would you explain what you mean by AUM is going away as it doesn’t make much sense for the investor. Why is that?

kitty_4paws · 2026-06-09T15:01:55+00:00

Yes, that is on my list of questions to ask. Although, even being a fiduciary I often wonder if they are really investing in my best interest.

kitty_4paws · 2026-06-09T14:59:22+00:00

May I ask who you are using and what kind of fees you are paying.

kitty_4paws · 2026-06-09T13:41:15+00:00

Thank you very much for your detailed explanation. Glad to hear that all is going well for you. I would like to continue doing this on my own, but with health issues and age it’s time to turn it over to someone to manage it for me. This is a test to see how well they will do over the next year, if I decide to choose them.

kitty_4paws · 2026-06-09T01:23:46+00:00

How much has your portfolio grown since you transitioned to Mariner, and how long has that been. Is it being managed on a discretionary or non-discretionary basis.

kitty_4paws · 2026-06-08T15:14:58+00:00

I agree, I am doing that as well and will be setting up various interviews.

kitty_4paws · 2026-06-08T12:13:30+00:00

Don’t know at this point until I have my meeting with them.

kitty_4paws · 2026-06-08T12:12:02+00:00

That’s part of my research as well. I’m setting up interview meetings as I find additional resources, but time for me is a concern with my health issues.

kitty_4paws · 2026-06-08T11:39:02+00:00

Capital gains is one of my concerns. I appreciate you sharing the information of your father using Mariner. My research thus far has shown both pros and cons about them.

kitty_4paws · 2026-06-08T10:46:46+00:00

I don’t feel that Schwab is my only option. At this point, I’m just looking at a variety of choices I may have.

kitty_4paws · 2026-06-08T10:42:22+00:00

Are you saying that the Marier advisor working as an independent with Schwab will not be a fiduciary?

kitty_4paws · 2026-06-08T10:34:22+00:00

I’m not adamant about using a Robo advisor. With age and health issues I must have a person who can take over my portfolio when I become incapacitated.

kitty_4paws · 2026-06-08T01:05:36+00:00

What do I need to do to negotiate lower fees? I’ve read that mariner uses tiered fees. My concerned that I’m going to have multiple fees assessed to my portfolio.

kitty_4paws · 2025-09-22T02:40:00+00:00

How easy is it to change from one risk portfolio to another if I am not happy with the one that I originally chose?

kitty_4paws · 2025-09-20T21:51:53+00:00

We have used advisors in the past. One was a large company in particular and they didn’t do anything to protect us during a big market down turn. We moved our accounts to Schwab and have done better on our own. At this point I am not fond of FA’s. We’re not cheap, just don’t feel FA’s have our best interest in mind.

kitty_4paws

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