Originally Posted by phil70
I think that forum members should reserve judgment on people who pay the recurring asset management fee. If you have no head for finance and no time or inclination to manage your portfolio, a good FA can be better than no FA, even if after deducting a reasonable fee. Of course there are bad apples in the industry. Just like there are bad lawyers, doctors and cops, teachers, etc.
If you are lucky enough to have the time, skill and confidence to manage your own portfolio, kudos to you, but don't knock someone else who doesn't.
This site is a good resource for people looking to go DIY, and they'll be more likely to continue that journey if they are greeted with constructive advice and not condescension.
I think I did a bad job of trying to make my point.
Clearly some special problem, especially a political problem, is worth spending money to avoid or solve. Same with unusual titling or other things like insurance or estate plans or other things that a FA may of may not be competent to help with.
But the plain Jane aspects of how much money do you put into what seems to be to be greatly in doubt, so some random choice within the usual bounds encountered everywhere is as likely to be successful as any other, whether one's own choice or some FA's.What people mostly seem to do is pick out some favorite guru, and make his pronouncements a benchmark.
Anyway, I am saying let people do whatever they are committed to doing, and let it be. Frankly, it is tiring and unnecessary to discuss this over and over since we seem to agree that no one really knows what will be best.