Reply to Do you use a “wealth manager” or DIY?

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[quote=Anonymous][quote=Anonymous]We have a "wealth manager" who handles about $1.8 million of our assets (not our 529s, not our 401ks, obviously not our home equity). Fee is low because they charge us the rate that my parents, with much higher net worth, qualify for. I haven't bothered to figure out whether I could achieve same returns on my own, because it's not a huge amount of money each year, and this way, I don't have to think about it.[/quote]

This is me, roughly the same numbers.  College is over, house is paid off, TSP and HSA are maxed so they’re only responsible for my taxable brokerage account and backdoor Roth.  I did try it on my own for several years and I suck at it.  I find they more than pay for themselves and they manage my elderly mom’s accounts as well as my young adult son, so we benefit from a lower rate as they base it on the cumulative of all family accounts.  They are also wizards at tax loss harvesting which I know just enough about to know what the term means.  They are full service and they set up my trust and will.

To each their own but I prefer to defer to the experts when it comes to this stuff.  [/quote]

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