Reply to Fees for a managed money account of 2+ million?

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[quote=Anonymous]1% or more is typical.  However, the drag imposed by such fees will materially reduce your long-term returns.  https://www.investor.gov/introduction-investing/getting-started/understanding-fees  Such advisors usually create complex and not necessarily tax-efficient portfolios for their clients.

For many people, a superior and equally effective alternative is Vanguard's Personal Advisor Service, a hybrid robo-advisor which combines automated features with personal advice at a much lower cost:  https://investor.vanguard.com/advice/financial-advisor

A variety of pure robo services also might be helpful if you only require asset allocation and portfolio rebalancing services, and have no need of personal financial planning or other investment advice.  Those services generally cost even less than PAS.  Vanguard, as one such example, offers their Vanguard Digital Advisor service, but many other companies offer similar products:  https://investor.vanguard.com/advice/digital-advisor

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