Financial Advising - managed account or fee based?
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Financial Advising - managed account or fee based?
Posted by Bama98 on 5/6 at 3:03 pm
our FA is in a new firm which offers a managed account structure. we give her a sizeable lump of money and it gets inserted into a class of investments based on our risk tollerance.

We've always done a fee by transaction based account bc it was all that was offered, but now wondering what the pros and cons are of the managed account.

Can provide more details if needed.



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Posted by Broke on 5/6 at 3:09 pm to Bama98
quote:

We've always done a fee by transaction based account bc it was all that was offered, but now wondering what the pros and cons are of the managed account.


2 sides to this. The more money she makes you, the more she makes. On the downside, if she loses you money, she still makes a %.

If I were you I would stick with transaction based.



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Posted by roguetiger15 on 5/6 at 3:29 pm to Broke
youre about to get bashed on here for having a FA just so ya know


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Posted by Bama98 on 5/6 at 3:35 pm to roguetiger15
maybe so, but I dont have the time nor intelligence to manage our mutual funds, stocks, etc on a daily basis. I'll take my lumps as long as I can get some sound opinions. We are meeting with them Friday to discuss further.


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Posted by roguetiger15 on 5/6 at 3:53 pm to Bama98
as an FA, you're doing the smart thing. Your time is more valuable to you if you focus on what made you that money in the first place.


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Posted by Broke on 5/6 at 3:56 pm to roguetiger15
quote:

as an FA, you're doing the smart thing. Your time is more valuable to you if you focus on what made you that money in the first place.


Amen. Opportunity cost.



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Posted by TheDiesel on 5/6 at 4:24 pm to Broke
At what point should someone look into a FA? 10K, 50K, 100K?


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Posted by Broke on 5/6 at 4:29 pm to TheDiesel
quote:

At what point should someone look into a FA? 10K, 50K, 100K?


I have people come to me with $50 a month to invest. Time in the market.



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Posted by roguetiger15 on 5/6 at 4:34 pm to Broke
its all relative my friend.


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Posted by Janky on 5/6 at 7:27 pm to roguetiger15
S&P 500 index forever, FTMFW!


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Posted by HailToTheChiz on 5/6 at 7:54 pm to roguetiger15
quote:

its all relative my friend.




what is relative



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