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Reply to "Recommend a Fee for service Financial Advisor, not investment manager?"
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[quote=Anonymous]The 1% fee seems high for educating us at one or two sessions. Let's say we have $1M in assets -- that's $10K for how much actual time instructing us? We're looking for someone that could perhaps spend 1-4 hrs. advising us... $10K is a heckuva per hour rate! We just need someone who can look at our whole financial picture, listen to some of our long range goals and help us map out several different plans (i.e. you'll want to have X in savings before you retire, you'll need to assume your retirement living expenses will be X, if you keep saving at your current rate you can retire in the year XXXX, you should start moving $ to safer investments X years before retirement and then...., etc...) Paying $10K or more for that kind of advice seems exorbitant. Hourly fee advisor is what we need.[/quote]
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