I was just wondering how much money I save by managing my own investments? I understand that investment advisors charge anywhere between .5% and 2.0% annually of your portfolio's total value. This fee needs to be paid even if your portfolio does not increase in value for any given year.
I also understand that you can pay some investment advisors by the hour. But about how many hours on average would someone spend on a typical portfolio and what would the average hourly rate be?
Assume for the sake of discussion that the investment portfolio value is $500,000.
Thank you for your help.
I also understand that you can pay some investment advisors by the hour. But about how many hours on average would someone spend on a typical portfolio and what would the average hourly rate be?
Assume for the sake of discussion that the investment portfolio value is $500,000.
Thank you for your help.