Quote:
Originally Posted by retiredguy123
What is a professional financial advisor? Most people who call themselves financial advisors are salespeople trying to make a commission or an AUM (assets under management) fee.
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Now THAT will cost you dearly if the advisor takes 1% of assets under management every year. Bonds bring in 4%; advisor takes 25% of income @ 1% of AUM; client is left with 3% return.
A fiduciary advisor paid a fee by the hour and seen every year or so is the way to go if one is uncomfortable making their own decisions or wants someone to talk things over.
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Last edited by manaboutown; 12-02-2024 at 02:47 PM.
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