Quote:
Originally Posted by Robbb
I'm a big fan of Vanguard but not so much their advisory services. I used them for a few years and after we set up the asset allocation 60/40 they did nothing. Their philosophy is pretty much to put everyone in a 60/40 allocation and leave it. Its not a bad plan however what do you need them for when you can do the exact same with a vanilla 60/40 fund which costs you maybe ,002%
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I agree. I have been a Vanguard client for over 35 years yet have never utilized their advisory services. Also, I have never paid and will never pay an AUM fee.
However, there are many people with little or no knowledge of how to structure and manage a portfolio. Also, they may have no desire to learn. That’s okay. These individuals would be far better served with a company like Vanguard where they can speak with a CFP than the local Villages “advisors” peddling high-commission indexed annuities plus high AUM fees.
They have no idea just how much they are paying for, what I believe, is poor advice that is hazardous to their wealth.