Just a comment on your message and reply to your parents.I don't think a 40% loss of principle ($400,000) over the past 3 years, especially if I am paying someone 1% advisory fee ($24,000.) is acceptable. ( Any commission on all of those stock trades?) Additionally, you indicate that your parents have made $50,000 (8.33%)of the loss back. Again, this is far less than any of the averages (all YTD figures): (S&P 16.09%, DJ 13.93%, and NASDAQ 39.4%). If they are fully invested in stocks, I would question the performance of the account. Top quality preferred stocks are returning about the same as your parents account with far less risk.I am not sure which type advisory account your parents have, but I would be skeptical of someone advising me to keep 100% of my investments in stocks, especially if I were approaching retirement age. I don't think there is any brokerage advisory service that is recommending this asset allocation. I would recommend they contact a financial planner as some have suggested and go over their future plans (retirement, transfer of assets, and etc.). The cost will be minimal based on their assets and salary. They will have peace of mind knowing either that the current broker is okay, or should be dumped.
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