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Author: BruceCM Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76398  
Subject: Re: Professional management Date: 7/11/2011 2:06 PM
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I think it comes down to your own priorities and where you want to be spending our own time and resources. In the OP's case, I think she has decided that she'd rather spend her time elsewhere, and that is worth something to her so she is willing to pay for the services of someone else doing this chore.

It has nothing to do with how hard it is, and deciding the worth of the service is really up to her.


I would second that.

I work with many clients....some wealthy, some comfortable, some with modest holdings (I have no 'poor' clients)

What I've found is that the willingness to take on the management of their assets has virtually nothing to do with how much $$ they have to invest, their income level or their level of formal education. It has to do with what they enjoy doing with their time.

Yes, target date funds and a simple ETF portfolio can be selected and periodically rebalanced by a high school student. But that is not the point....these clients simply DO NOT want to do it.

Now, let me quickly say....this doesn't mean they don't want to see results and have explained to them, in clear and unambiguous language, why they are being invested as they are and why the results are as they are. Here, I've found through experience that those clients who demand such reporting from their advisor tend to be more affluent, older and have greater assets under management...and I agree with what they are asking for and encourage them to ask.

BruceM
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