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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Poster who changed from FA to mostly self-managed. How we switched, which isn't that helpful in your case, but here you go in case anything helps:

One, we first switched TO the FA, which as mentioned by other posters required several tax events. (Yes, we were incredibly naive and I truly get angry just thinking about how they took advantage of that naïveté and the money we lost when we first started.) Then realized what a racket it was.

Two, we had a long-time relationship with our big bank, and had/have a person [b]who makes his money through the amount he has under management. [/b][b]But it's a % that the bank pays him.[/b] We don't pay anything other than the fee for any funds we buy. (Started with SPY, SDY and SHY. Have started using VOO because of the lesser fee.)

He took care of everything to get us from the FA firm back into the bank. We sat down and came up with a plan for how to deploy before he did it. (There are protocols for how this is done.)

Thankfully, a lot was in tax-free or retirement accounts, plus way too much cash from assets they liquidated. I saw pretty quickly that it wasn't for us, so wouldn't let them put the cash to work while I started doing research.

As to our bank FA, we used to have a weekly call with him on strategy, tweaking, and frankly a lot of learning. Now we talk regularly but not nearly as often because we are mostly set and not a lot to do.

Separately, we have (and always have had) a CPA who does our taxes. No question some are better than others.

We have quite a bit of money, and our person doesn't take new people on anymore, but there has to be younger people who are trying to grow their own book of business who would be thrilled to take on your account.

Someone here might know if Vanguard, Schwab or Fidelity could do this for you. The only person I know who is at Schwab and has an advisor does pay a fee. I wonder if once you are set if you can then go to self-managed?[/quote]

The bank pays him, guess again. You pay him.[/quote]

Actually, we aren't. I have checked. We pay no fee at all. There are other divisions within the bank that are fee based, but not our situation. [/quote]

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