I noticed last week my elderly mother's AUM-based WF advisor made 80+ small (from 1 - 100) individual stock trades (some buy some sell) in an IRA/Roth IRA. She said there is no extra charge since he makes money from the yearly AUM fee. This is the first batch of trades all year so this is out of the ordinary.
I don't see any extra charges associated with these trades. Is he being proactive by doing this based on the latest stock research or diversification strategies, or is something shady going on possibly? He took her out to lunch at this time and said her account grew 7% this year, and presumably to get her permission to make these trades.
Small example, he sold 6 shares of Apple, 1 share of Blackrock, and bought 5 shares of Texas Instruments, and 15 shares of Cisco.
I don't see any extra charges associated with these trades. Is he being proactive by doing this based on the latest stock research or diversification strategies, or is something shady going on possibly? He took her out to lunch at this time and said her account grew 7% this year, and presumably to get her permission to make these trades.
Small example, he sold 6 shares of Apple, 1 share of Blackrock, and bought 5 shares of Texas Instruments, and 15 shares of Cisco.