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Financial planner fees
Wife and I met with a financial adviser from Ameriprise Financial this evening. I have been averse to getting a Financial adviser, since I am reasonably knowledgeable on the subject. But I don't have time, and I have come to see some advantages in having someone else mind the flock. The guy comes with recommendations from 2 separate friends who are physicians.
His fees are $600 yearly retainer, plus 1.5% of your portfolio. So if I give this guy 100k to work with, he is charging me basically 2.1% in the first year. So my investments are going to have to beat the markets by 2 points just to make this worth it. I'm pretty skeptical.
Comments appreciated.
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