youbet
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
If you're really concerned about your mom's finances, you might want to take a breath, put your emotions about the FA aside, and think about whether she's undergoing a shark attack or serious malfeasance. First, consider her AA. You say she's higher in equities than you would expect at her age (and I assume given her other financial and life circumstances). That's serious. If the FA has you mom in an inappropriate AA for her age and circumstances, action needs to be taken. This could include reporting the FA to the appropriate gov't agencies.She is bulk equities, higher than I would expect at her age,
It's obvious the situation has your adrenaline flowing. But there is a difference between the FA marginally missing benchmarks (if the ones you're picking are appropriate) and your mom swimming with the sharks or going to work for Enron. I'd first focus on making sure this FA is legit, appropriately licensed, that your mom's account is intact (it isn't half gone, etc.) that he delivers money whenever your mom requests it and he has no complaints on file.there is no doubt in my mind that with her expenses coupled with her performance vs. S&P vs. my 85/15 "three-fund-ish" portfolio that she's getting, in my previous word, "fleeced".
If it turns out that your mom's AA is OK for her age and circumstances and there is no suspicious or criminal activity taking place, then I'd do a deep dive and determine the level of "fleecing" using an appropriate guage, say her performance vs. a blended index benchmark that reflects her AA.
I completely understand your frustration.