Reply to Fee-based financial advisor for retirement years

Forum Index » Money and Finances

Reply to "Fee-based financial advisor for retirement years"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]I think fee-based (percentage of assets under management) is preferable to commission-based. You don't want your advisor "churning" your account when they have a big vacation to pay for or whatever . . . fee based removes the motivation to steer you towards high-commission products or to recommend buying/selling when you don't really need to. I just don't think it's realistic that many people with all the skills and qualifications of a good financial advisor (CFP, MBA, etc.) will be charging you, like, $500 to manage your assets for a whole year when they could be making SO much more money the traditional way. This is one of those things where, if you have a highly regarded financial advisor, you get what you pay for.[/quote]

Many people nee one time advice on general direction that they can execute themselves if they are willing to spend the time, as well as advice on tax and estate implications. They are not asking for their assets to be managed for $500 a year, but are willing to pay several thousands for the one time advice.  But it is very difficult to find people who do that.  I know some exist, but most are so backed up they are not taking new clients. So the demand for such services is quite high.[/quote]

Yeah there's a lack of supply because people with those skills can get a significantly better a return on their time with fee-based advising.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics