I’ve been with my financial advisor for over. 20 years. He’s a great guy, provides excellent advice and has helped me tremendously over the years with big picture planning and saving (college savings, disability insurance, retirement (obviously). Ive been a diciplined investor for many years and the account he manages has about 2.8 MM in it. But 480k are my own long terms stocks that I chose, so i dont pay a fee for those. Heres my big question: im paying a 1% fee for the advisory service and Im wondering if this is too high, and if i should negotiate this down. I truly like this guy, he’s like a friend and i feel bad to lower his fee, but i think for the value of the account and condering that it will grow, this 1% isnt the best deal. Id love some advice and to know what others are paying their advisors.
original posted by Longjumping-Lemon-73 to r/personalfinance on Wed, 20 Mar 2024 11:02:14 GMT.