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Old 03-30-2014, 11:41 AM   #41
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How about if I ask FA to lower their fees to .375 %.

What's the point?

Reminds me of the story of a man who threatened to burn down his neighbor's house. The neighbor said, "How 'bout we compromise, and you just burn down my garage?".

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Old 03-30-2014, 12:59 PM   #42
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How about if I ask FA to lower their fees to .375 %.
Why? They still add no value, get lower returns than equivalent index funds at Vanguard and MESSED UP your 72t. Why do you want anything to do with these guys? Even if they were FREE, you would be better off without them.
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Old 03-30-2014, 01:14 PM   #43
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How about if I ask FA to lower their fees to .375 %.
Is there some personal relationship you have, directly or indirectly, with the FA that you think will upset them if you drop them completely? After all, as others have pointed out, your simple portfolio really doesn't need any advisement, and there are better ways to spend $7,500 per year.
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Old 03-30-2014, 01:26 PM   #44
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I am going to visit the local Charles Schwab office tomorrow. I want to thank you all who have replied.
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Old 03-30-2014, 03:09 PM   #45
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I am going to visit the local Charles Schwab office tomorrow. I want to thank you all who have replied.
One last bit of advice.
Go there with a firm intention of what you want to do, and not merely an attitude of "What do you advise me to do?"

Sounds as if maybe you're not 100% clear in your own mind right now about what your intention is, which could be detrimental to your financial future.
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Old 03-30-2014, 05:02 PM   #46
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I am using a FA but after reading all the good advice here I am going to change that.
I have used VG in the past and will switch to them. If it helps, there are some great articles on investment principles particularly regarding retirement. Our assets are rather high so we are paying like 40k/year!!! Not for long!
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Old 03-30-2014, 05:28 PM   #47
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I am using a FA but after reading all the good advice here I am going to change that.
I have used VG in the past and will switch to them. If it helps, there are some great articles on investment principles particularly regarding retirement. Our assets are rather high so we are paying like 40k/year!!! Not for long!
Good for you!
That 40k/year hurts to even read it. Imagine what that money could buy for you or help increase your portfolio.
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Old 03-30-2014, 06:00 PM   #48
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Let's both do it. Thanks Travelwanted.
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Of all tyrannies a tyranny sincerely exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies, The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for own good will torment us without end, for they do so with the approval of their own conscience.
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Old 03-30-2014, 06:04 PM   #49
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Let's both do it. Thanks Travelwanted.
Indeed! The real question will be asset allocation. And, in particular, what time horizon for bonds given the low interest rate we are in!

Best of luck...keep of informed!
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Old 03-31-2014, 07:02 PM   #50
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should I go it alone

Went into CS office today. The salesman looked over my current portfolio and asked me why I was paying someone for such a boiler plate index portfolio. Same question I've gotten from this forum.

Meeting with current advisor tomorrow morning with 90% chance of firing him. Why the 10% chance. If he can convince me of the value he provides, other then not having to be active in my investment decisions.

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Of all tyrannies a tyranny sincerely exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies, The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for own good will torment us without end, for they do so with the approval of their own conscience.
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Old 03-31-2014, 08:12 PM   #51
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...
Meeting with current advisor tomorrow morning with 90% chance of firing him. Why the 10% chance. If he can convince me of the value he provides, other then not having to be active in my investment decisions.
...


He's a salesperson. It's his job to convince you that you need him (this is the guy that messed up your 72t?) - his livelihood depends on it. I bet he has more experience convincing people they need him than you do in the opposite. It's like asking the rustproofing guy if rustproofing is a good thing.

You've read the info here, you got your answers, just leave.

-ERD50
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Old 03-31-2014, 09:14 PM   #52
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He provides himself with value from you. Your accounts did worse than their benchmarks under his management. He will dazzle you with statistics. Cancel the appointment and let the Schwab people take over. At the very least, tell him you will run his figures past "your" Schwab guy.
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Old 03-31-2014, 09:54 PM   #53
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Old 04-01-2014, 06:31 AM   #54
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He provides himself with value from you. Your accounts did worse than their benchmarks under his management. He will dazzle you with statistics. Cancel the appointment and let the Schwab people take over. At the very least, tell him you will run his figures past "your" Schwab guy.
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Old 04-01-2014, 07:24 AM   #55
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Do it. Rememer that its your money and your future.

Be assertive. Just return their "free coffee mug" and say goodbye.
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Old 04-01-2014, 08:29 AM   #56
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How about if I ask FA to lower their fees to .375 %.
That could make sense if you are satisfied with every aspect of the arrangement. But I am reading a lot of negatives from other posters, as well as yourself.

Will be interesting to see how this turns out. I think the under-performance last year is significant. It suggests there is some basis for getting a settlement from the advisor for his fees in the past.

I'd shake the tree some more, and see what fall out.
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Old 04-01-2014, 02:41 PM   #57
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I have a fixed fee advisor that works out as well less than even 0.4%. It's a considerably more involved portfolio. Yet I'd do it myself rather than pay 0.4%. Net, I agree with the overwhelmingly one-sided advice here.
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Old 04-01-2014, 03:40 PM   #58
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I have a fixed fee advisor that works out as well less than even 0.4%. It's a considerably more involved portfolio. Yet I'd do it myself rather than pay 0.4%. Net, I agree with the overwhelmingly one-sided advice here.
The one fixed fee adviser I found in the area with all the right alphabet behind her name wanted $5k just to talk. This forum has worked out much better and is a lot cheaper.
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Old 04-01-2014, 04:21 PM   #59
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The one fixed fee adviser I found in the area with all the right alphabet behind her name wanted $5k just to talk. This forum has worked out much better and is a lot cheaper.
She obviously never heard of the old saying that "talk is cheap"!
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Old 04-01-2014, 04:24 PM   #60
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She obviously never heard of the old saying that "talk is cheap"!
Ya mean like on this forum??
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