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Old 08-27-2008, 02:51 PM   #21
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So if you have let's say 1M and your earning 2% (20K). Now your giving your advisor/partner 1% off the top (10K). He's doing pretty good for no investment of his own.

Now if he's putting you in funds like Oppenheimer he's/she's getting 12B1 fees and a % of the vig to get in.

Read the Bogleheads guide to investing and dump your partner ASAP.

Go to Vanguard or Fidelity where they will give you a free advisor with 1M and if you index you'll pay less than .09%. About $900 in fees on the port of 1M.
At $1 million, he would pay no upfront fees, he buys at NAV........
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Old 08-27-2008, 02:52 PM   #22
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Value, Hmmmm, never thought of it that way.
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Old 08-27-2008, 02:55 PM   #23
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I'll admit that I've often thought about hiring the ol' FinanceDude to handle things so I have more time for important stuff, like posting here...
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Old 08-27-2008, 03:21 PM   #24
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Value, Hmmmm, never thought of it that way.
On a DIY forum, why would you? Folks on here get rid of their advisors because they "can't beat the index". Well, their advisor was stupid because he/she trumpeted that they COULD "do better" than Vanguard or Fidelity or their "old FA", or whatever.

Why would keep an FA that brings you no value? I wouldn't want a client I didn't bring value to..........

Sorry for the ramble.........
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