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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Our financial advisor said to do a mix of mainly VTI and some VXUS. [/quote]

Thats a little bittersweet.  On one hand, its nice your FA puts you in low fee index funds.  On the other hand, he's likely charging you an AUM fee to allocate your money the same way Bogleheads suggests using a three fund portfolio...which you can do yourself...sans AUM fee.[/quote]

Most real financial planners use low cost funds. Picking investment funds is about 5% of what a financial planner does. Bittersweet that you have no clue what a financial planner does. If you did, you would run and get one yourself.[/quote]

Actually, I do know what a financial planner does.  We had one for nearly 20 years before we ended our service with them.  We had a good experience and they did put us in mostly low fee funds but the AUM fees they charge (lets say 1%) really add up over time.  Plus, the service we received from our old FP was the same whether or not our fee was 1% of a little or 1% of a lot.  This AUM fee structure needs to change.  An hourly FP would be an option for us (and maybe OP...later)

Since OP said they were a novice investor and that this is inheritance money, I am guessing they are looking long term for where to put their money.  The 1% AUM adds up and over time and it reduces returns.  With all the knowledge and tools available (easily) now, OP can open a brokerage account with a big service like Schwab, Fidelity or Vanguard and then invest their inheritance in a low cost index fund all by themselves.  With no fee that will reduce returns over time.

So I do know what a FP does and I have no desire to run to one anytime soon.  I do have a good tax accountant on speed dial and if I do need to revisit the services of a FP it will certainly be one who charges by the hour and not AUM.  [/quote]

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