Retirement planning
Having just sold my small business and on the cusp of retirement, I followed your advice and found an advisor through Wealthramp. I am partway through the initial planning process, and the advisor has been great, very educational. However, now I am torn regarding what level of advice I need in the future. The Wealthramp advisor offers a “Comprehensive Plan” with a fixed fee, but it would amount to nearly 1% of my assets. I see that Fidelity offers “Fidelity Wealth Services” at ~.05%, and Vanguard offers “Vanguard Personal Advisor Services” at ~.03%.
I am nearing 70 years old and will most likely have a very conservative portfolio, so I’m not sure how much hand-holding I need, but I do feel I still need a trusted advisor to check in occasionally. The thought of having a conservative portfolio that might only get a 4% return and then pay ~1% (or 25% of my expected returns) seems expensive.
Terry Says
I promise you’re not getting personalized service for .05% of your portfolio!
Discuss this with your Wealthramp advisor. Maybe you only need one meeting a year, once you’ve set up not only your portfolio but your estate and tax and income planning. That’s the big thing you’re paying for!
One or two meetings a year won’t cost 1% of your portfolio, not with a Wealthramp advisor!
