Would you invest one of your retirement accounts with a friend?

Is he offering better terms or is he just fishing for a larger base to get fees from?

I mean it's kind of a catch, the adage of business and friends/family is always a strong cautionary tale.....but most of the best managers are closed because everyone wants to put their money in there resulting in the fund becoming too big to manage. So the only way in is networking of sone sort.

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Is he offering better terms or is he just fishing for a larger base to get fees from?

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We never have gotten that deep into conversation about it to discuss terms. Is that a question I should maybe ask?

Also, I feel like it would be a total dick move to just yank this thing from the guy it's been with and then just be like, "Oh yeah, sucks dude. I don't know you so here go my thousands of dollars. See ya."

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Also, I feel like it would be a total dick move to just yank this thing from the guy it's been with and then just be like, "Oh yeah, sucks dude. I don't know you so here go my thousands of dollars. See ya."

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This statement is problematic, making the best decision about investing your money is more important than the feelings of someone you don't really know. Unless you are one of the guy's largest clients he won't give it 5 seconds of thought and neither should you, it is just business.

You could liquidate it and potentially pitch in to bring KDB to city.

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Thanks for this. I would think that I'm definitely not a large account and he'll likely be dead by the time I cash out regardless.

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You said you never met him and you are only with him because your family is with him, right? If that's true, you don't need to feel an ounce of remorse about leaving him if you feel that is best. Why? Cause what has he done to get to know you? As your adviser, he should be, oh, "advising" you on a regular basis. He should be meeting with you - not your parents, but you - at least once a year. Sounds to me like he's not doing much to earn his fee from you.

As to moving the account to your friend, is he actually going to make the investment decisions, or is he just housing the account and you make all the decisions?

I'm a CPA and I have a number of friends that have become clients over the years, and I bend over backwards to make sure I protect them and do good work for them, because I don't want to do anything that ruins my friendship.

I also have two good friends who have asked and begged me to take them as clients, and I absolutely refuse to, because I know they pull some shady stuff with their finances that I don't want my name anywhere near!!

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ou said you never met him and you are only with him because your family is with him, right? If that's true, you don't need to feel an ounce of remorse about leaving him if you feel that is best.

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Never met him in person, no. But he does email or call me a few times a year. He's called both today, due to the recent stumbling in the market and when all the Greece shite hit the fan. I'm 25 so I guess he's just calling to make sure I'm not worrying. I only have like $15k in there and I know The market will readjust itself, but other than that we don't talk weekly or anything.

My buddy is at North Star Financial and he's doing well. Just got promoted to their office in Cinci so I don't think he's shitty at his job. I guess I'll have to talk numbers with him.

If you've never even met your advisor, I would absolutely switch to your friend or vanguard. If you end up with your buddy just make sure his fees are competitive.