[manaboutown]

Originally Posted by Plinker

This is correct.
Vanguard and/or Fidelity are hard to beat. Their representatives are fiduciaries and can manage your account for a very low AUM fee. Also, their funds charge some of the lowest expense ratios on the planet. Vanguard is at 0.3%. Personally, I am a DIY guy but understand that many people prefer some guidance.
Now for the math (you knew it was coming).

$1 million dollar account at 0.3% is $3,000/year with unlimited phone calls to speak to a CFP fiduciary.
$1 million dollar account at 1% is $10,000/year.

Assume 25 years in retirement and your account does not increase or decrease but is the same $1,000,000 each year (I realize that this is an overly simplified example but still makes my point).
Vanguard at 0.3% - $3,000/year X 25 years is $75,000
Advisor at 1% - $10,000/year X 25 years is $250,000
A difference of $175,000!
This is before we calculate the lost opportunity cost of what the additional 0.7% (1.0% minus 0.3%) could earn over 25 years.

Stay away from the micro advisory companies and free dinner salesmen in The Villages. IMO, their fees are exorbitant. Also, my example doesn’t include the high commissions they earn when they peddle an annuity or insurance on top of the 1% AUM fee. ALWAYS check on FINRA and click on “brokercheck”. You will be appalled at some of the disclosures.

Fidelity has an office in Lake Sumter Landing if you desire face to face meetings.

I use Vanguard, Schwab and Ameriprise. For whatever reasons I have had difficulties with Fidelity so I no longer do business with them. The Ameriprise accounts go back to Olde Discount days and I trade very little in them. Schwab allows its account holders to both buy and sell Treasury bills and bonds which the other outfits do not accommodate.