07-31-2008, 02:46 PM | #1 |
Demiurge
Join Date: Aug 2005
Posts: 36,368
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How much is reasonable for a financial advisor?
I guy I have worked with on a number of things is probably going to take up my stock portfolio (i.e. retirement accounts).
I pretty much trust him. I knew his brother in med school. I've known him now for several years. With my small retirement fund, he had recommended I mainly invest in index funds. But now he says my little pot of money is large enough to manage. He says that historically he beats the S&P 500 by 2-3%. He would charge 1% per year for him and his employees to manage my accounts. Is 1% a reasonable charge for a relatively high-maintenance management? |
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