Reply to Move 401K Funds out of Employer Account to IRA Managed by Advisor?

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Reply to "Move 401K Funds out of Employer Account to IRA Managed by Advisor?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The fee of your 401k may go up if you leave it at an old employer. Move it  away from the employer since he will be done with them.
There is zero reason for an advisor unless they help you save on taxes. You didn't mention it.
The problem is not even where the money is, but it's highly taxable.
Advisor is not allowed to invest your money the way you could invest it for you. They don't know your personal situation like you do. The advisor investing it for you, teaches you nothing.
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OP here. Our advisor is also our CPA so he is very familiar with our situation. The question would be what the cost would be to keep it in the employer fund vs. the annual cost of ~$15,000 to pay the advisor. We are already spending more than that with him with our other investments. I think the .05% is a pretty good rate already considering he is managing just under $4M for us right now, but that will go up to ~$7M if we move the funds. Maybe I should ask for a reduction in the rate? 
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Yes, you should negotiate a rate reduction.  With $7M+ with them, you should be paying less than 0.05%.

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