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Posted on 8/10/26 at 9:38 am to mule74
Did you have your interview on Friday?
As others have said you don’t need a wealth manager. You need a fee only financial planner that you can strategize with every few years. You also beed a good CPA when you have liquidation events.
As others have said you don’t need a wealth manager. You need a fee only financial planner that you can strategize with every few years. You also beed a good CPA when you have liquidation events.
Posted on 8/10/26 at 11:09 am to LSUFanHouston
I'm not sad that AI is entering the "wealth management" space. Charging people a percentage for what they provide is bullshite.
Posted on 8/10/26 at 11:26 am to mule74
You need a tax expert not a wealth manager
Posted on 8/10/26 at 11:45 am to Wilson
quote:
If you're interviewing brokers/RIA's, then you're looking in the wrong profession. You need a very good CPA, a tax attorney and probably an estate attorney.
This. And frankly OP, I don't think you are going to find what you are looking for.
You are looking for someone to basically say "here's how to take your money and get wealthier." That's not really out there. People will say they do it, but they won't. If they were that good at it, they wouldn't be shilling for your business.
You really need a CPA firm with a tax attorney. This is all going to be very expensive, and unless you are talking $10 mil rentals then not worth it financially. If you are just talking $50k a year in rental property income, again just not worth it.
Until you have a CPA on staff or can afford $25,000 or more a year in a CPA/ tax attorney you just aren't going to get much help here if you know what you are doing.
Its mostly going to be looking at what you are currently doing, and how to save and be more efficient moving forward.
Posted on 8/10/26 at 12:15 pm to RoyalWe
[quote]I'm not sad that AI is entering the "wealth management" space. Charging people a percentage for what they provide is bullshite.[/quote
Most of that “wealth mgmt” is robo generated anyways.
Now do RE agents. Taking giant % of people’s home equity for what they do / do not do is robbery.
Most of that “wealth mgmt” is robo generated anyways.
Now do RE agents. Taking giant % of people’s home equity for what they do / do not do is robbery.
This post was edited on 8/10/26 at 12:16 pm
Posted on 8/10/26 at 12:40 pm to Everyday Is Saturday
quote:This is even more of a rip off. Leeches, all of them.
Now do RE agents.
Posted on 8/10/26 at 12:41 pm to Everyday Is Saturday
quote:
I'm not sad that AI is entering the "wealth management" space. Charging people a percentage for what they provide is bullshite.[/quote
Most of that “wealth mgmt” is robo generated anyways.
Now do RE agents. Taking giant % of people’s home equity for what they do / do not do is robbery.
I don't personally disagree, but the internet has had RE options for many years and they aren't going away.
At some point, there is a business of comfort that these positions give to many people. I don't necessarily agree with it, but its there.
Wealth management, people just really appreciate someone to talk to that knows the business and can talk them off a cliff or out of a bad decision like going all in on bitcoin. AI will never do that.
I would never allow a random stranger to walk my home for sale. That's where a Realtor comes in. Some people that move to an area, just want someone nice to talk to and give them some personal insight.
Now, whether or not its worth what they ask is a different story. But what realtor is going to work for $50/ hour and what wealth manager would be paid $250 every time someone wants to have a 15 min phone call?
Posted on 8/10/26 at 3:31 pm to baldona
I'm not saying they can't add value -- but what they charge for that "value" is not worth the cost. They're ripping people off.
Posted on 8/10/26 at 4:15 pm to RoyalWe
and if you do go to a WM, dont use Vanguard, funds are great, customer support is awful.
Posted on 8/10/26 at 6:59 pm to FMtTXtiger
quote:vanguard's annual fee is 0.3% for the first $5MM
and if you do go to a WM, dont use Vanguard, funds are great, customer support is awful.
schwab is double that
This post was edited on 8/10/26 at 7:05 pm
Posted on 8/10/26 at 8:05 pm to cgrand
Why not pay 0.0%?
Posted on 8/10/26 at 11:00 pm to baldona
quote:
AI will never do that.
That word never is one I hesitate to use re AI. I hear your point, and I think you are right. There is a market of people who just want comfort.
I think RE commissions, as % of home equity (eg 30% or more), for what they do is robbery.
I suspect some AI wizard is going to find a way to disrupt this. Long over due.
Waymo RE Agent car picks you up gives you city/neighborhood/house tours, engaging you through your smartphone AI as you scan the door lock, enter home and walk around, answering all your questions, dynamic if/then analysis of the day, and negotiates via seller’s AI agent, etc. I have no idea Jetsons stuff here, but it’s coming. I hope.
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