I posted here a few years ago when I sold my business and put a chunk of money into Fidelity's "professional advisory service." : http://www.early-retirement.org/for...lity-portfolio-advisors-have-me-in-41775.html
I decided to experiment a bit to see if it was worth it.
So, here are the results after three years so far, compared to the indices. I put one bucket of money with Fidelity, one based on a Yahoo "10 best-performing mutual funds" story I read one day in '08, and one a bunch of about 15 stocks from various cable TV blowhards and newspaper columnists:
S&P 500: 49.51%
Fidelity's "professionally managed" stock portfolio, after 1% fee: 49.75%
Yahoo's "best mutual funds" article from 2008 (AMAGX, JMCVX): 49.41%
Internet/TV "expert" stock tips: 54.24%
VFINX 500 index: 47.48%
VTSMX total market index: 50.62%
So is Fidelity worth it?
I really don't know, it all looks the same to me.
I decided to experiment a bit to see if it was worth it.
So, here are the results after three years so far, compared to the indices. I put one bucket of money with Fidelity, one based on a Yahoo "10 best-performing mutual funds" story I read one day in '08, and one a bunch of about 15 stocks from various cable TV blowhards and newspaper columnists:
S&P 500: 49.51%
Fidelity's "professionally managed" stock portfolio, after 1% fee: 49.75%
Yahoo's "best mutual funds" article from 2008 (AMAGX, JMCVX): 49.41%
Internet/TV "expert" stock tips: 54.24%
VFINX 500 index: 47.48%
VTSMX total market index: 50.62%
So is Fidelity worth it?
I really don't know, it all looks the same to me.