[manaboutown]

Thank you, Boomer. Thank you for both the compliments and for again providing thoughtful considerations to a discussion.

In my case my children for various reasons are incapable of managing a securities portfolio and my grandchildren are too young to do so. For those and other reasons over thirty years ago I established a revocable living trust which I occasionally review and amend as necessary. The trust company which I have chosen, as they can deal with managing my real estate portfolio, does not manage securities portfolios in-house, but works with an advisor chosen by the trustor. The conundrum I am facing is finding a suitable, capable and trustworthy individual or company. I have a few possibilities I am in the process of checking out. What I had not given much thought to is that their fees come out of aftertax income. Shudder...

Furthermore, fees based on AUM do not seem justified to me. How much more time, knowledge and experience does it take to manage a $2M, $5 or even a $10M portfolio over a $1M one? All one does is buy/sell 200. 500 or 1,000 shares instead of 100.