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Reply to "Am I overpaying my financial advisor?"
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[quote=Anonymous]It is nothing to do with risk tolerance. It’s about being taken for a ride by your advisor. His fees alone are $10k a year. On top of that he is making a fortune from load fees. If you manage your money yourself you can choose whatever risk profile you want. Everything you described him doing would take a couple of hours at most a year to manage yourself. I know that because I do it for my wife and myself. We have about $1.5 million invested. But I give you no advice. Recycling money from naive people to greedy people is one of the fundamental attributes of US capitalism, so I respect you for doing your part so well.[/quote]
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