Fund management fees
What is a reasonable fee to pay to have someone manage your retirement funds? We have been quoted 1.5% up to $500,000, it then goes down to 1.25 at $750,000 and 1% if there are $1 million in your account.
Terry Says
Personally, I think that’s way too much! For example, you could get advice at Fidelity or Vanguard for free — AND their funds charge less than 25 basis points! Now, that may not be the kind of personalized advice you need, but a lot depends on whether your “advisor” is giving you only investment advice or is doing a full-fledged financial plan. Check at www.Wealthramp.com to be matched with certified financial planners who are also FIDUCIARIES — putting your interests first and fully disclosing all fees. I think you’ll find you don’t have to pay that much — especially with such a large account.
