I interned for a year at a fee only AUM advisor in my town. They now manage about $ 1B in assets and overall charge about .62% a year in fees. That means they take about 6.2M a year in fees out of their client’s accounts … wowza that is a lot of money to have their clients stay the course … about a 1/3 rd goes to owners of company, 1/3 rd to office and staff, and about a third to advisors. Lately a few advisors left to start their own firm because owners were raking in more than what some advisors thought was fair.
They put people in boglehead type 3 fund portfolios with Schwab. Sometimes they make it a 4 fund portfolio with A REIT added. They always leave a few grand in their clients poor returning schwab mm account to pay their client’s quarterly AUM fee.
I manage my own portfolio and save the fee. If you need someone to help you stay the course message me and they and probably 1,000 other advisors will gladly do it for a % of your money a year. Vanguard pas was .03% last I heard.
It’s good to recognize your limitations and pay someone to keep you on track if you can’t do it yourself. It’s not always easy. Good luck.
They put people in boglehead type 3 fund portfolios with Schwab. Sometimes they make it a 4 fund portfolio with A REIT added. They always leave a few grand in their clients poor returning schwab mm account to pay their client’s quarterly AUM fee.
I manage my own portfolio and save the fee. If you need someone to help you stay the course message me and they and probably 1,000 other advisors will gladly do it for a % of your money a year. Vanguard pas was .03% last I heard.
It’s good to recognize your limitations and pay someone to keep you on track if you can’t do it yourself. It’s not always easy. Good luck.
Statistics: Posted by Parkinglotracer — Thu Jan 04, 2024 4:05 am — Replies 36 — Views 2086