The Question
Paying Advisor 1% to manage $1MPaying Advisor 1% to manage $1M
If I have $1m under mgt, should I pay a lower fee than 1% from a Florida-based advisor for advisory services?
It depends on the value you are receiving from the advisor. It’s sounds like you question the price vs. value relationship which could be reasonable.
I tell clients, if you are paying 1% for asset management for a 7 figure portfolio, you should be receiving Investment Management and two meetings per year along with a review of your income tax return and tax advice.
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