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Reply to "Why would you pay 1% to a financial advisor?"
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[quote=Anonymous][quote=Anonymous]If you had one, you probably have 7 mil today. So, in that case, missing 2 mil. [/quote] BS! It would've been the opposite. OP would have $4 mil instead of 5. OP - I had a financial advisor paying 1% fee for a portion of my accounts. When my company got acquired back in 2009, I was forced to cash out and ended up giving that money along with a few cats & dogs accounts for them to consolidate and manage. I also started tracking their performance against my other accounts. They never beat my other accounts, both active and passive, over the past 10+ years. They diversified unnecessarily, sold and hedged without reason (maybe their reasoning made sense at the time they did). Suffice it to say that I'd been way better off just investing in a market index. [/quote]
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