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Reply to "Paying a “wealth manager” 1pct fee- what can he do?"
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[quote=Anonymous]Vanguard has a white paper that claims an advisor is worth 3 percent per year. Yes, Vanguard. Though lots of people like to laugh at those who have an advisor (can’t you do it yourself?!), the value is in appropriate asset allocation for the goal, monitoring, and rebalancing. Everyone SAYS they’re going to do that, but most don’t. Instead, hubby gets some wild idea about some tech stocks or bitcoin, thumps his chest when it goes up, tells wifey not to worry when it goes down, and wishes he had a financial advisor when he loses everything (and his wife). As others have said, advisors do more than investments. [/quote]
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