No. of Recommendations: 0
So I would turn your question around and pose it as "Given my reasons (whatever your reasons are) for wanting to have someone else manage this significant chunk of my money --- why should I place it with a FA instead of into index funds?"

Your observations and deductions are pretty good!

My wife REALLY wanted to talk to someone else about cutting back on her hours and the effect on our future. That and the windfall drove the search. He was very helpful in putting us at ease about our future by providing us with a detailed analysis in 24 hours.

Upon talking to him, it became clear that we are poorly set up to transfer our sizable estate to our 12 yo daughter should we die. He can use some help there in setting up a trust, but that doesn't require funds under management.

I guess what's pushing me towards giving him money to manage is wondering what I don't know. If I do give him money, worst case, I see it as a learning experience that costs me a few thousand dollars. Best case, I get into investments I wouldn't have considered and net a few hundred thousand $. Maybe I underestimate the downside, but I'm just giving my thoughts here.

You'll have to trust me when I say my wife was annoyed at my disdain for FAs going into this. Im going into this with my eyes wide open so we'll see what happens at the next meeting.

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