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Reply to "Do you use a “wealth manager” or DIY?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I ($6M) use a financial planner who charges about 0.4% annually. There are some special services that he’s done, like setting up bond ladders for income, and advising on tax strategies. He also advises on insurance and setting up trusts. I could do all of it DIY in theory, but it’s not my area of expertise, and it’s nice to have a professional looking over our accounts every quarter.[/quote] Sure it’s your money and you can spend it how you want but the question is whether it’s worth $25k a year or whatever to do this. [/quote] I’m not the PP but at this level of assets the tax issues can get complicated and messing it up can cost $200K+.[/quote] Not PP either but a tax accountant costs way less than $25K per year too. [/quote]
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