Originally Posted by dewilson58 (Post 2262458)

These threads are becoming dog poop threads.........kind'a silly.

$40k to $60k in fees are nothing on a $100mil portfolio.
$40k to $60k in fees are painful on a $1mil portfolio.
"In my experience....." :ohdear::ohdear::ohdear:

Thank you Mr. Obvious:
"Most of these investment advisors have 1 main goal, and that’s how can they make money. Your goal is the same, how can I make the most money on my investment dollars?"
"The most beneficial way to handle investments IMO is for you to learn how to manage your money yourself, or learn enough to know when an advisor is worth the money you are paying him."

:shrug::shrug:

Originally Posted by huge-pigeons (Post 2262224)

My experience talking to these sort of firms/people, and what friends and family have shared with me on their experiences, I have no desire to go with these investment advisors.
Most of these investment advisors have 1 main goal, and that’s how can they make money. Your goal is the same, how can I make the most money on my investment dollars?

In my experience and a couple of friends experience, a few advisors wanted over $40,000-$60,000 per year to manage my/their investments. Which is a lot of money, but take that amount and extrapolate that for 10 years: that’s around $400,000 - $500,000 or more in fees alone. On top of those fees, you might have some funds that have high expenses or loads. OR worse, you could be talked into an annuity.

The most beneficial way to handle investments IMO is for you to learn how to manage your money yourself, or learn enough to know when an advisor is worth the money you are paying him.

Originally Posted by PVR (Post 2262476)

I'm not sure where you are getting your information.
My broker has always made investments grow. I make way more than his fees. If I don't make money then he doesn't. Been with the same company over 30 years

Originally Posted by huge-pigeons (Post 2262224)

My experience talking to these sort of firms/people, and what friends and family have shared with me on their experiences, I have no desire to go with these investment advisors.
Most of these investment advisors have 1 main goal, and that’s how can they make money. Your goal is the same, how can I make the most money on my investment dollars?

In my experience and a couple of friends experience, a few advisors wanted over $40,000-$60,000 per year to manage my/their investments. Which is a lot of money, but take that amount and extrapolate that for 10 years: that’s around $400,000 - $500,000 or more in fees alone. On top of those fees, you might have some funds that have high expenses or loads. OR worse, you could be talked into an annuity.

The most beneficial way to handle investments IMO is for you to learn how to manage your money yourself, or learn enough to know when an advisor is worth the money you are paying him.

Originally Posted by Justputt (Post 2262510)

I did do mine own, but I found life too busy to stay on top of it. As a result, I missed some timing to bail out or jump in, as result of that I lost a bunch for missed making money just camped out in big "safe" funds. I use mostly Fidelity now, because I cannot watch things as closely as someone that has it as their all-day everyday job. I would have substantially more had I made the change years ago. Everyone can make money when times are good, but then there's 1987, 2008-9, and 2020.

Originally Posted by Bearlythere (Post 2262484)

Investment Advisors make money even when you don't.

Originally Posted by Blackbird45 (Post 2262507)

What is your position and what do you need. Do you have income sources other than your investments. In other words, if you have a decent pension and make a fair amount on your social security and don’t have to rely on your investments, fees might not matter. If you want to leave an inheritance and you want security on the principal, dividends might be the answer. Many posters have given you advice, but you have to understand their advice is based on the position they are in. My advice is to sit down with pen and paper, figure out what are your needs and wants from your investments. I believe that should be your first step.

Originally Posted by huge-pigeons (Post 2262466)

(a) If you calculate what an advisors fee will be on your investments, you will be surprised what you have paid over a 10 year period.

(b) My point in this post was to share what your expenses might be hiring an advisor over a 10 year period of time on a portfolio that you spent decades building up. $500,000 (even if it is only $100,000), in advisor expenses over a 10 year period is a lot of money.

Originally Posted by PVR (Post 2262476)

I'm not sure where you are getting your information.
My broker has always made investments grow. I make way more than his fees. If I don't make money then he doesn't. Been with the same company over 30 years

Originally Posted by Dave-Katherine (Post 2262467)

Why not take care of your own medical and dental needs while you are at it. And do all of your own car repairs, home maintenance and lawn work.
In my opinion there is real value in hiring a professional to take care of these things. Of course, its your money, and your time, spend it as you wish.

Originally Posted by Dave-Katherine (Post 2262467)

Why not take care of your own medical and dental needs while you are at it. And do all of your own car repairs, home maintenance and lawn work.
In my opinion there is real value in hiring a professional to take care of these things. Of course, its your money, and your time, spend it as you wish.