re: .

I dont use one but have considered a fee based planner. I am 95% a buy and hold index investor and not looking to rebalance since I have a stable inflation adjusted pension in lieu of bonds. Recently I found a planner that charges flat rate ~$2500 for a one time analysis and plan then gives you software to keep track yourself in future and charges a lower fee for reassessment when desired. I was thinking they.might be able to help w tax.optimization including Roth conversions and tax gain harvesting. Maybe the suggestion of a CPA or tax attorney would be better for that thoughts? No way I'm paying anyone 1% of my invested assets at this point. That would be ludicrous but I'm probably willing to pay 1/10th of that in a flat fee.

I could never pay someone to manage my money. I have a visceral negative reaction to the thought and those I’ve spoken with have always been shown to be charlatans when asked pointed questions. I’ve paid up front before for advice and got my money back after pointing out all of the flaws in their advice. No one will manage your money better than yourself. Sure, if you’re not interested and not capable then by all means pay someone. Don’t believe the propaganda white papers put out by these investment firms. You can do better than them (or just as well) and even if you make a mistake, not paying someone else buys you some room for error. I have a couple friends in the industry and they also tell me not to bother with their services because I’d be wasting my money. I just wanted to share a contrarian position to all of these pro-give-your-money-away to people to do things you can do for yourself. Get off my lawn.

quote:

---

seems expensive to pay someone .75-1%

---

Local to BR area FA that rhymes with bag o' dicks wants 1.75% to manage stocks/bonds and 25% of the total portfolio would be in treasuries....yes, it's a 1.75% fee to manage that

You can also get access to certain investment vehicles that you would necessarily be able to get into on your own. However, if you are disciplined enough you can do it on your own.

I think you underestimate how foolish the general public is with money. A lot of people need someone to do this sort of thing for them and coach them through it. Like I said, that’s not really representative of the majority of posters on this board.

quote:

---

Out of curiosity what has your average annual return been?

---

We transferred/rolled over 2 external accounts into our RJ portfolio June of last year to make it 4 accounts with RJ and our advisor. So since those were added and the new portfolio value set at that time, our RJ portfolio value has increased 15% to-date since then, to give you an idea.

I have had one ever since about two years after I started my career. I now have two advisor/planners and they know this so they have upped their game.

They simplify things for you and give you peace of mind. I am not knowledgeable enough for handling financial markets and the future. They give advice and a direction. I have always had a return on investment with them, but more importantly is that when the economy is about to tank or actually tanks they know what to do to hedge and can act fast.

They also hooked me up with very good life insurance policies.

I am now talking to a third planner based in New York. I have a successful friend in NY who recommended them. They handle high net worth clients and are a big time venture capitalist. I would have to write a big fat check to them in order to establish an investment account and become a client, and am not comfortable doing that right now. Maybe in a year or two.

My point is that I started an account when I was making $70K a year, and have grown along the way. If you are smart with your investments I would say it is not needed, but who is there to judge you on the investments you make? A financial advisor/planner is a convenience.

I know high net worth individuals who use multiple planners.

I've never known it as a competition. It's typically another version of diversification.
Occasionally, a percentage of funds will be shifted based on trust.

quote:

---

Tax implications for retirement accounts are minimal but taxable brokerage accounts are major. I basically won’t sell to rebalance my taxable accounts…I’ll just adjust my future contributions to avoid capital gains. I have tax loss harvested selectively in the downturn but that was situational and will have tax benefits for years to come. Most of the general public need a financial advisor. People on the MTB likely need a really good CPA or tax attorney. Running a basic portfolio of ETFs is very straightforward to anyone who wants to learn; understanding optimal tax strategy or trusts, wills, estates…call a professional

---

This is exactly why I might be using a flat fee advisor to look at everything I have and figure out a plan from a tax efficiency standpoint.