Ask Terry Questions Fees charged to manage investments.

Fees charged to manage investments.

By Terry Savage on March 30, 2019 | Financial Planning / Retirement

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 matching service.

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