Ask Terry Questions Robo investors

Robo investors

By Terry Savage on July 20, 2019 | Investments

Right now I have a financial advisor with Edelman Financial Engines. I feel that his fees are to high and that I’m not getting a good return . My funds are invested with Schwab. We have our IRA’S and a Living Trust Fund with them. My question is : would we be better off using Schwab’s ” Intelligent Portfolio” or the Intelligent Portfolio Premium instead of a broker? We are 76 &77 and don’t need the money now. We have $108,000 in the funds at the moment. Do you feel that these Robo funds are good or bad ? I’m also looking at Ally Invest. Thank you.

Terry Says

You know the old saying:”Good advice is worth paying for.”  But not too much!  I don’t know what you’re paying but it shouldn’t amount to more than 50 basis points (one-half on one percent) plus an average of no more than 25 basis points on all-in fund costs.

At your level of wealth, you can get free asset allocation advice at Fidelity or Vanguard or Schwab.  But they won’t be around to hold your hand in a bear market!

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