No. I am not set on using him. The concerns I have with his rate have me looking other places, fortunately before rolling over my retirement accounts.Welcome to the forum.I have recently switched to a new financial advisor. So far I like working with him; he is knowledgeable, kind and doesn't rush encounters. He also agreed to serve as a fiduciary. His rate for assets under management is 1.4% annually (0.12% monthly). What do you all think about this? I am meeting with him again tomorrow and would like to know where I stand. Thanks for the guidance.
It sounds as if you've already made the decision to use this adviser, is that the case?
In any event, you may want to read the article linked below by Jason Zweig of the Wall Street Journal.
It's called "The 19 Questions to Ask Your Financial Adviser". Jason even provides what he believes are the appropriate answers. You could see if your new adviser measures up.
I definitely agree with others... 1.4% is a relatively high fee for this sort of arrangement. Paying an ongoing fee will eat away at your portfolio like a hungry tapeworm.
Regards,
This is very helpful. Thank you. I did not know of a concise document that outlines great ideas to consider when looking for an adviser.
Statistics: Posted by makingdough — Mon Dec 16, 2024 11:10 am — Replies 29 — Views 887