Fees charged to manage investments.
Hi Terry
I have been using a company to manage my investments. First I used Ric Edelman. Then I went to Schwab, their fees are a little less. I hate paying the fees but a portion was deductible. Not the case anymore. I know they need to make money but are there any firms that do a great job managing the investments but don’t charge as much. Or is 9ther a better option. I kmow i will have tax consequences if i sell the diversified fund families i now how. Thanks, any insight would be great.
Terry Says
OK, a bit of perspective is required. First, you could manage it yourself and not pay ANY fees! (And you wouldn’t have to sell funds at a gain to do that!). But will you feel comfortable on your own when the market drops — which it will, eventually. You don’t seem to complain about the advice — just the fees. I don’t know how much you are paying — and whether it is ongoing management fees, or if that combines with high cost funds that you were sold. It’s always worth paying for good advice.
I think what you need is a FIDUCIARY FEE-ONLY financial planner to take a look at your situation. Find a highly recommended one through the Wealthfront.com matching service.
