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Old 11-29-2017, 10:13 AM   #41
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I interpreted responses saying to people who choose to have FA's that they don't need them as suggesting they shouldn't have one. If that wasn't the intent, I'm happy to hear that. Have a great day!
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Old 11-29-2017, 10:23 AM   #42
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OP states they don't need an FA, they want one. People who wander in and read threads about the perfect way to select an FA should also know that not having one is an alternative option.

My parents continue to use Edward Jones. They pay north of $10k in fees every year. Probably more now as their portfolio grows.

They are making money and don't like the thought of "breaking up" with their FA. I get it.

I went through examples of how the fees knock down what they want to do. I used this tool to show them exactly the impact.

Compare Investment Fees

They state they are at the "end" of their investing. Maybe only 10-20 years of time left at early 70s.

They could give that $10k to church, create a scholarship at their college, cut a hole in their pocket and let it dribble out on the sidewalk to help people.

No right answer. My assumption is that if you post a long detailed post about how to select the perfect FA that it is a template for others to perhaps use. Great.

The value of these places is not only saying "great job, here is your slap on the back", but throwing out difference and alternate views.

It is very possible you will come out ahead after fees over the next X years. We won't know until X years passes. Nobody knows nothing and It's OK to be _____________.
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Old 11-29-2017, 08:34 PM   #43
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Quote:
Originally Posted by bloom2708 View Post
OP states they don't need an FA, they want one. People who wander in and read threads about the perfect way to select an FA should also know that not having one is an alternative option.

My parents continue to use Edward Jones. They pay north of $10k in fees every year. Probably more now as their portfolio grows.

They are making money and don't like the thought of "breaking up" with their FA. I get it.

I went through examples of how the fees knock down what they want to do. I used this tool to show them exactly the impact.

Compare Investment Fees

They state they are at the "end" of their investing. Maybe only 10-20 years of time left at early 70s.

They could give that $10k to church, create a scholarship at their college, cut a hole in their pocket and let it dribble out on the sidewalk to help people.

No right answer. My assumption is that if you post a long detailed post about how to select the perfect FA that it is a template for others to perhaps use. Great.

The value of these places is not only saying "great job, here is your slap on the back", but throwing out difference and alternate views.

It is very possible you will come out ahead after fees over the next X years. We won't know until X years passes. Nobody knows nothing and It's OK to be _____________.
Heaven forbid you would ever think that what they do is their own decision!

Edward Jones is one of the more expensive, but some people use them. I would not recommend Edward Jones, but it is not my money or my decision.

I guess this topic needs more coverage. It is just not discussed enough. Why don't you start a new thread and enlighten us all. Try to find something that has not been kicked around a million times already.
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Old 11-29-2017, 08:46 PM   #44
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I don't want to compare investment fees.

I don't go to church, I'm not religious.

I support my alma mater and my fraternity and the second harvest food bank as well as some cancer related groups.

And I really like supporting my FA because he is a nice guy and makes me lotsa dough!
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Old 11-30-2017, 05:57 AM   #45
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Quote:
Originally Posted by bloom2708 View Post
I went through examples of how the fees knock down what they want to do. I used this tool to show them exactly the impact.

Compare Investment Fees

They state they are at the "end" of their investing. Maybe only 10-20 years of time left at early 70s.
Thanks for posting a link to the compare tool. Have a similar situation, and spouse is always remarking about the fees that in-laws have paid since inception. Another cost is to include the higher fees of the funds and/or trading.

When I go, it will be up to spouse how to handle this. I advise to DIY, but go to a particular company where we have investments, if help is required.
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Old 11-30-2017, 09:20 PM   #46
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I had a good meeting with the Fidelity FPA Wednesday.

Much of it was over details of how to start withdrawing from my 403b, but he also made some tweaks to the Fidelity Retirement Analysis tool (I had double counted income for the next year, due to my settings on the timing of retirement and continuing to work part-time online), and he also pointed out the withdrawal table within the tool that shows the percentage of withdrawals over time until the end of the plan--since I brought up the issue of several years until full SS retirement age when I would be withdrawing considerably over 4%.

I had set the tool to very below average returns and also increased the yearly withdrawal by 20% over what we plan to take, but it still showed more than 50% of money left at age 100 and a 150% left with just below average returns.

He did not sell anything, but did make a suggestion of a short-term bond fund to look at since I mentioned the issue of high cash not earning anything in the sweep fund.

I was favorably impressed. He mostly just responded to my questions, very intelligently. So it might be worthwhile meeting once a year or so with Fidelity or Vanguard advisors if you are using them and have sufficient assets for the meetings to be free.
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