.

I do. His name is Mr. TheBoo. He is free.

quote:

---

Anyone here have a financial planner?

---

I do, but he also does not have every dollar my portfolio.

quote:

---

That is really expensive.

---

Vanguard did a white paper on this years ago and came to the conclusion that the value a quality financial advisor adds to the mix is 3%/year.

The standard for financial advisors is between 1-1.5%/ yr.

LINK

We have almost $700k across 4 accounts with Raymond James and pay our advisor/planner who is here local in Denver 1%. He's fairly active in our multiple accounts. Asks us before making any big moves, telling/showing us why he wants to make those moves. Smaller moves he does himself, dropping this, adding that. I get a confirmation email every month or so of him adjusting our holdings/investments. He's also helped us shore up things we were lacking regarding our rental properties, get us with a good CPA for taxes, and guided us to an estate lawyer and helped with that process to get our trust and wills done (we recently had our first child). Just need to get the LLC done for our 2 rental properties. He even provides some advice/guidance with our other accounts we don't have with Raymond James (employer 401k, TDA/Schwab individual trading accounts, etc) when I ask him for advice.

In my opinion, he definitely earns his 1% fee. We're well ahead of where we were 5 years ago.

Just my 2c from our experience with one for the past 5 years.

ETA: He's born and raised here, went to high school with a couple of my close friends, has always had a good reputation as a person going back to his HS days. With that mutual friend/personal relationship angle, I trust him to work on behalf of our best interest (which in turn make his paycheck bigger), as opposed to some random guy/gal chosen for us by one of the big investment houses. We meet with him for dinner and some drinks about once every quarter.

quote:

---

We have almost $700k across 4 accounts with Raymond James and pay our advisor/planner who is here local in Denver 1%. He's fairly active in our multiple accounts. Asks us before making any big moves, telling/showing us why he wants to make those moves. Smaller moves he does himself, dropping this, adding that. I get a confirmation email every month or so of him adjusting our holdings/investments. He's also helped us shore up things we were lacking regarding our rental properties, get us with a good CPA for taxes, and guided us to an estate lawyer and helped with that process to get our trust and wills done (we recently had our first child). Just need to get the LLC done for our 2 rental properties. He even provides some advice/guidance with our other accounts we don't have with Raymond James (employer 401k, TDA/Schwab individual trading accounts, etc) when I ask him for advice.

In my opinion, he definitely earns his 1% fee. We're well ahead of where we were 5 years ago.

Just my 2c from our experience with one for the past 5 years.

---

This is well said. This is what mine does as well. It's more than just managing an account. It's access to people that can help further your investments, just not with that one person. That's what the good ones do.

As I see it, a financial advisor will be a small drag on growth during the bull runs. But the active management should see huge benefits during the bears.

I've tracked my 401k vs a manager for a few years.
On the good years, I may be up 15% and he is up 13%. In the down years (snapshots), I'm down 15% and he's down 2%. And he's capable of buying value to potentially double benefit on the next ride up.

Talking to him about his anonymous clients...
He has to convince them to stay with him during the good years (his client's dick measuring with neighbors) but always earns their trust and loyalty when things turn to shite. For his individual stock picks, he has to hold their hand on long positions as well.
Human nature is always second guessing having a manager... and human nature is always second guessing holding when the irrational fears set in.
He sounds like 70% of his client interactions is babysitting.

quote:

---

I’m concerned planners are trying to time the market by making moves. It’s not like they have some insider information before stocks jump or go down. The only moves I can see them making is reallocating a portfolio but I seriously doubt this needs to be done on a monthly basis.

---

Sure there is always a market timing aspect. That is why my manager keeps some cash in my account to take advantage of buying opportunities. Plus, nothing is static. The markets change. The blue chip companies change. At some point portfolios have to be adjusted to compensate to high level market changes, especially interest rate changes and commodities.

Once you reach retirement years. A good financial guy can be key in tax avoidance investing and withdrawing

quote:

---

What is the typical portfolio amount or person who uses a financial planner?

---

Probably lower than you think.

Outside of this board and other financial boards, most people are financially illiterate. 1% is paltry for those people. Then there is a subset of people who think as long as you’re buying low cost ETFs and funds, you’ll be fine, but those people don’t know what they don’t know, and may benefit from an actual plan. Lastly there are people who are disciplined, well versed in financial intricacies, particularly tax management, and they’re more than fine on their own.

Tax management in the accumulation phase, distribution phase, and at death are probably the most valuable part of a good planner, imo.

What’s funny about these answers is that a lot of y’all think “stock picking” and timing the market work. Too much data and research to the contrary.

The other thing that was only glossed over was looking at the expenses associated with funds/ETFs y’all are invested in, costs associated with buying in and out, and tax issues.