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Investing/Strategies / Retirement Investing
|Subject: Re: Professional management||Date: 7/8/2011 8:24 PM|
|Author: 2gifts||Number: 69239 of 76615|
An import and consideration to keep in mind is that you may find a professional manager that work well for you and plan to use them long term, but they are human too and they may very well die or retire while you are still alive. Even if it is a company with multiple people the company could be bought out or merge with a very different company.
And I could get killed by a car trying to cross the street, but that doesn't mean I should stay in the house forever and never cross the street.
I think the OP's question is reasonable, and I definitely understand wanting to have someone else handle managing the finances. The guy we are using has his own office that is just him and his assistant. He was part of one major brokerage when we first talked with him, and has changed twice since that first conversation and when we started using him due to various acquisitions. Yet he is still the same person using the same model and with the same assistant. Apparently, even the large brokerages have figured out that they should just leave their top earners alone to keep doing what they have been doing.
You would then either have to find another one or hope that whoever takes over their accounts is just as good. By then you may not be up to making a big decision like this or your spouse might have to decide what to do. This could leave you vulnerable to being taken advantage of.
And for this, I go back to the risk I take every day that I might get hit by a car crossing the street. There are always risks that something could happen, but I think the OP is probably pretty good at managing various risks, and I certainly wouldn't see this as a deterrent.
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