Ran across this when searching for a “Fee Only” (not fee-based) advisor. I pay an advisor like I pay my accountant or attorney - by the hour. I rarely need to call now as I am retired and no longer own a business.
Two investors:
Beth: Starts with $10,000 and adds $8,000 annually into index fund earning 8% (this is conservative as the S&P 500 has returned, on average, 10+% for many decades, including reinvested dividends). Her balance: $2.29M
Joe: Same as Beth but returns are 7%. This reflects a 1% AUM fee.
His balance: 1.74M.
I will pass on the “free” polo tickets and T-shirts. For those that would like help in managing their portfolios, I would recommend Vanguard. You can speak with a CFP and they only charge 0.30%.
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