Quote:
Originally Posted by LeRoySmith
I've been talking to a guy in Ocala (the brick city group) about managing my money and I cant seem to make the leap. Its not that I don't trust him, but no one cares about your money as much as you do. The other part that's hard to swallow is the ~1% fee. That covers all my living expenses for a year and he is looking for a target that's lower than what I typically make on my own (he does make a very good case about lower volatility).
I've always stumbled my way to pretty decent results but as I age and my mind gives up on me it feels like I need help.
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Don't agree to pay him 1 percent of all of your assets. If you have bonds and cash investments that you feel comfortable managing, you shouldn't be paying any percentage to an advisor. But, if you think the advisor can manage the equity portion of your portfolio better than you can, then you may want to agree to pay 1 percent of those assets only as a reasonable fee.