100k of VTSAX today???

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our financial advisor said to do a mix of mainly VTI and some VXUS.

Thats a little bittersweet. On one hand, its nice your FA puts you in low fee index funds. On the other hand, he's likely charging you an AUM fee to allocate your money the same way Bogleheads suggests using a three fund portfolio...which you can do yourself...sans AUM fee.

Most real financial planners use low cost funds. Picking investment funds is about 5% of what a financial planner does. Bittersweet that you have no clue what a financial planner does. If you did, you would run and get one yourself.

Actually, I do know what a financial planner does. We had one for nearly 20 years before we ended our service with them. We had a good experience and they did put us in mostly low fee funds but the AUM fees they charge (lets say 1%) really add up over time. Plus, the service we received from our old FP was the same whether or not our fee was 1% of a little or 1% of a lot. This AUM fee structure needs to change. An hourly FP would be an option for us (and maybe OP...later)

Since OP said they were a novice investor and that this is inheritance money, I am guessing they are looking long term for where to put their money. The 1% AUM adds up and over time and it reduces returns. With all the knowledge and tools available (easily) now, OP can open a brokerage account with a big service like Schwab, Fidelity or Vanguard and then invest their inheritance in a low cost index fund all by themselves. With no fee that will reduce returns over time.

So I do know what a FP does and I have no desire to run to one anytime soon. I do have a good tax accountant on speed dial and if I do need to revisit the services of a FP it will certainly be one who charges by the hour and not AUM.

No, you do not know what a real financial planner does.

What services did your advisor do for you?

We were with a well established DMV Financial PLANNER (you also write advisor and there can be a distinction) for 20 years. They provided good services for us. They could pretty much do it all except they would not sell us things (like insurance) and they would refer us to our tax accountant when it came to tax matters. The reason we left was the AUM fees, not the services. The services we received were essentially the same even when the amount of the fee they received went up. Meaning, if we had 2M with them our AUM (1%) for the year was 20k. If we had 5M with them, the fee was 50k. Same service but fee much higher. No difference in service to us. Why?

This is getting off course though. The OP wanted to invest an inheritance. I assumed they were younger and looking to invest. They can do so easily all by themselves without that 1% fee that, over time, will hinder their returns. Will they need a tax accountant? Maybe. Will they need a FP in the future? Don't know. I just suggest they use one that does not charge AUM fees but is hourly instead.

I know you will never list the services they provided because you did not have a financial planner. Instead of replying with more word crap, just list the services.

We were with: https://www.edelmanfinancialengines.com/

Our advisor was a CFP.


Is there an actual point you're trying to make?

So your going to public out a company and not tell us what services they provided for you?

No Class.

The PP told you she was with a CFP and literally posted the website for you to click on.

You can lead a horse...

The poster will NEVER say what services were provided because they did not work with a financial planner and don't know what to post. They post a website address instead, trying to make that firm look bad.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our financial advisor said to do a mix of mainly VTI and some VXUS.

Thats a little bittersweet. On one hand, its nice your FA puts you in low fee index funds. On the other hand, he's likely charging you an AUM fee to allocate your money the same way Bogleheads suggests using a three fund portfolio...which you can do yourself...sans AUM fee.

Most real financial planners use low cost funds. Picking investment funds is about 5% of what a financial planner does. Bittersweet that you have no clue what a financial planner does. If you did, you would run and get one yourself.

Actually, I do know what a financial planner does. We had one for nearly 20 years before we ended our service with them. We had a good experience and they did put us in mostly low fee funds but the AUM fees they charge (lets say 1%) really add up over time. Plus, the service we received from our old FP was the same whether or not our fee was 1% of a little or 1% of a lot. This AUM fee structure needs to change. An hourly FP would be an option for us (and maybe OP...later)

Since OP said they were a novice investor and that this is inheritance money, I am guessing they are looking long term for where to put their money. The 1% AUM adds up and over time and it reduces returns. With all the knowledge and tools available (easily) now, OP can open a brokerage account with a big service like Schwab, Fidelity or Vanguard and then invest their inheritance in a low cost index fund all by themselves. With no fee that will reduce returns over time.

So I do know what a FP does and I have no desire to run to one anytime soon. I do have a good tax accountant on speed dial and if I do need to revisit the services of a FP it will certainly be one who charges by the hour and not AUM.

No, you do not know what a real financial planner does.

What services did your advisor do for you?

We were with a well established DMV Financial PLANNER (you also write advisor and there can be a distinction) for 20 years. They provided good services for us. They could pretty much do it all except they would not sell us things (like insurance) and they would refer us to our tax accountant when it came to tax matters. The reason we left was the AUM fees, not the services. The services we received were essentially the same even when the amount of the fee they received went up. Meaning, if we had 2M with them our AUM (1%) for the year was 20k. If we had 5M with them, the fee was 50k. Same service but fee much higher. No difference in service to us. Why?

This is getting off course though. The OP wanted to invest an inheritance. I assumed they were younger and looking to invest. They can do so easily all by themselves without that 1% fee that, over time, will hinder their returns. Will they need a tax accountant? Maybe. Will they need a FP in the future? Don't know. I just suggest they use one that does not charge AUM fees but is hourly instead.

I know you will never list the services they provided because you did not have a financial planner. Instead of replying with more word crap, just list the services.

We were with: https://www.edelmanfinancialengines.com/

Our advisor was a CFP.


Is there an actual point you're trying to make?

So your going to public out a company and not tell us what services they provided for you?

No Class.

The PP told you she was with a CFP and literally posted the website for you to click on.

You can lead a horse...

The poster will NEVER say what services were provided because they did not work with a financial planner and don't know what to post. They post a website address instead, trying to make that firm look bad.

NP
You're a bit odd pp

Very passionate about whether an anonymous poster used a financial planner or not lol!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our financial advisor said to do a mix of mainly VTI and some VXUS.

Thats a little bittersweet. On one hand, its nice your FA puts you in low fee index funds. On the other hand, he's likely charging you an AUM fee to allocate your money the same way Bogleheads suggests using a three fund portfolio...which you can do yourself...sans AUM fee.

Most real financial planners use low cost funds. Picking investment funds is about 5% of what a financial planner does. Bittersweet that you have no clue what a financial planner does. If you did, you would run and get one yourself.

Actually, I do know what a financial planner does. We had one for nearly 20 years before we ended our service with them. We had a good experience and they did put us in mostly low fee funds but the AUM fees they charge (lets say 1%) really add up over time. Plus, the service we received from our old FP was the same whether or not our fee was 1% of a little or 1% of a lot. This AUM fee structure needs to change. An hourly FP would be an option for us (and maybe OP...later)

Since OP said they were a novice investor and that this is inheritance money, I am guessing they are looking long term for where to put their money. The 1% AUM adds up and over time and it reduces returns. With all the knowledge and tools available (easily) now, OP can open a brokerage account with a big service like Schwab, Fidelity or Vanguard and then invest their inheritance in a low cost index fund all by themselves. With no fee that will reduce returns over time.

So I do know what a FP does and I have no desire to run to one anytime soon. I do have a good tax accountant on speed dial and if I do need to revisit the services of a FP it will certainly be one who charges by the hour and not AUM.

No, you do not know what a real financial planner does.

What services did your advisor do for you?

We were with a well established DMV Financial PLANNER (you also write advisor and there can be a distinction) for 20 years. They provided good services for us. They could pretty much do it all except they would not sell us things (like insurance) and they would refer us to our tax accountant when it came to tax matters. The reason we left was the AUM fees, not the services. The services we received were essentially the same even when the amount of the fee they received went up. Meaning, if we had 2M with them our AUM (1%) for the year was 20k. If we had 5M with them, the fee was 50k. Same service but fee much higher. No difference in service to us. Why?

This is getting off course though. The OP wanted to invest an inheritance. I assumed they were younger and looking to invest. They can do so easily all by themselves without that 1% fee that, over time, will hinder their returns. Will they need a tax accountant? Maybe. Will they need a FP in the future? Don't know. I just suggest they use one that does not charge AUM fees but is hourly instead.

I know you will never list the services they provided because you did not have a financial planner. Instead of replying with more word crap, just list the services.

We were with: https://www.edelmanfinancialengines.com/

Our advisor was a CFP.


Is there an actual point you're trying to make?

So your going to public out a company and not tell us what services they provided for you?

No Class.

The PP told you she was with a CFP and literally posted the website for you to click on.

You can lead a horse...

The poster will NEVER say what services were provided because they did not work with a financial planner and don't know what to post. They post a website address instead, trying to make that firm look bad.

NP
You're a bit odd pp

Very passionate about whether an anonymous poster used a financial planner or not lol!

If you bad mouth a company you should be able to back up your claim. This poster ran away like a little baby.