UnThreaded | Threaded | Whole Thread (27) | Ignore Thread Prev | Next
Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: Re: If I Were to Take Over from FA... Date: 3/14/2014 2:21 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Really, think about it. You are paying maybe 1.5%-2.0% annual fee. On a $1,000,000 account, that's $15,000 to $20,000. How much detailed personalized advice do you think you can get for what amounts to a starvation wage?

That's why the only advice you'll get is cookie-cutter advice.


Well, maybe the kinda "advice" I am talking about should be cookie cutter. I recently stumbled over the fact that I can pay the FA's fee from taxable funds, which means that we could have painlessly increased our IRA holdings by 4% over the past 4 years, and potentially deducted the fees on our taxes as well. I think that should be a "generic" piece of info handed out to investors, particularly those in accumulation phase or those with lots of taxable funds. Very painless way to increase the Roth.

Or when I again asked for the taxable account to be managed in a tax controlled manner, don't automatically think annuities are the way to go. Instead, lets put our less tax friendly boldings in the IRAs, and keep the taxable account buy and hold, keeping the asset allocation the same when taking all the various accounts into consideration. And lets be age appropriate when investing my teen's Roth, not using the same asset allocation at the start of his savings that we are using at the end of ours.

Who knows what else I could be doing. I'm not asking for stock suggestion or anything that is specific to me. Someone who spends many hours a day dealing with people's accounts, someone who has that alphabet soup after his name, should know these industry tid bits that they can share.

IP
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (27) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement