Some people for whatever reason(s) are better off using a financial advisor. They do not have the time, the interest, the capability or any combination thereof to manage their assets. The problem for them is finding an honest and capable individual who understands their situation and can assist them at reasonable cost, preferably fee only, not fee-based or AUM.
The problem is finding a good advisor to help them. The best FAs handle only very large accounts, as in hundreds of millions of dollars and the best of them are not taking new accounts. Over the years I have read the CVs of FAs at most of the popular retail brokerage houses. They are anything but impressive. I have yet to find one to manage my securities when I am no longer able to do so. Most of my assets are in real estate so I have a trust company lined up to handle them. This particular trust company will coordinate with one's estate attorney, accountant and FA. It does not have in-house FAs so I suppose I need to find one. Good luck to me!
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"No one is more hated than he who speaks the truth." Plato
“To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine
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