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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]No more than 0.5%[/quote]

Really? The person who was recommended to us has a fee of 1.25%. We thought that seemed high.[/quote]

We had an advisor for a portion of our portfolio for about 10 years.  The market (S&P, DOW and Nasdaq), our 3 401Ks and 3 of my brokerage accounts all beat the returns of the advisor's return in pretty much every time period.  Their response always was "we manage risk" and "you will see our value in a market downturn when we won't lose as much", etc.  Not really.  Fired them last year.

We paid 1% for a 600K account.  I believe the fee structure was a sliding scale.  Not sure what it would have been for 2M.  If I was to do it again with a larger portfolio, I wouldn't pay more than 0.5% (hence my recommendation).  I'm sure you can negotiate.  It's just another service, not something set by statute.  0.5% is another 10K per year for doing close to nothing (other than at the beginning of the relationship).[/quote]

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