Originally Posted by nivek
Does anyone know any low fee private banking / wealth management services?
I was hoping to find a place that won't charge me an arm and a leg for a majority of assets in DFA Funds but will still give me access to some of the other advantages that come with private banking like pre-ipo issues and private placements.
IIRC Bogleheads had a thread (with Rick Ferri?) on replicating a DFA portfolio with Vanguard funds... at a much lower cost. You might find other DFA-avoidance info on this board.
I'm not saying DFA is bad, just that their time may have passed.
I don't know what a pre-IPO issue is. Are you talking about getting the share allotment of an IPO? Are you aware of what IPO shares' average performance is after you take out the Google blip? I also don't know how to access IPO shares without being subject to a six-month lockup, which takes the buzz out of much of the asset class.
If you meet the threshold then Fidelity will offer IPO shares. I don't remember the number-- $100K or $500K in their account or in "combined accounts" (like counting your IRA and spouse's IRA for purposes of the threshold). But IIRC Fidelity requires adherence to a six-month lockup.
When you say "private placement", are you referring to being an accredited investor? If that's the case there might be an angel investing club in your local area.