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Reply to "S/O How to fire our financial advisor"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm not saying keep him, but you're only looking at the fee side of the equation. Has the FA outperformed the market? This is an easy enough analysis to do -- [b]look at the ROI on your managed fund over the last 10 years and compared to the Vanguard funds[/b]. If you exceeded Vanguard, then the $24,000 may have been money well spent. Note: Usually, actively managed money doesn't outperform index funds. But there are certainly exceptions.[/quote] OP here - do you mean look at my overall performance of my account over the last 10 years? [/quote] Even if by some miracle the OP has managed to outperform the market after fees based on their FA's recommendations I would still get rid of them. Just because someone has beat the market in the past doesn't mean that they will outperform in the future. There is a reason that the SEC mandates in all disclosures that "past performance is no guarantee of future results"[/quote]
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