Hi Fellow Fools.I'm a foolish investor with a portfolio that's basically half in well diversified Vanguard index funds and half in stocks bought with a fool's perspective (buy and hold great businesses with great leaders). I've been comfortable with this approach and managing my money without further assistance. Now, a very large (by my standards) inheritance is coming my way. Do I stay the foolish course and just keep doing what I've been doing? Do I hire a financial advisor? I'm really leaning toward an advisor but I'm having a tough time finding a recommendation for someone who operates from a fee-only model. I've never discussed this with friends before and have learned that everybody I know is using someone who works in the % model. That's out of the question for me. So, thoughts about how to handle this large influx of money and how to find an advisor. Advisor recommendations would be welcome as well, if that's permitted on these boards.Thanks in advance!
If what you have been doing has worked for you perhaps you should continue doing the same. Personally, the majority of my investments are with Vanguard index funds and I am satisfied with my investments.If you want an adviser who charges a flat fee rather than a percentage of assets you might check with Garrett at https://www.garrettplanningnetwork.com/
Thanks for the feedback and the link to Garrett, CABob. It's reassuring to hear that you've been investing with Vanguard's funds and are satisfied.
I agree with CABob -If you are comfortable with your results, stay the course. I also am in index funds - just with Fidelity instead of Vanguard. I am happy with this approach.Advisors are going to steer the middle of the road - something you can do on your own by reading. If you are really uncomfortable putting this inheritance into your current model, I would suggest putting it into a 6-12 month CD while you do more research on what you want to do. Given how the markets are behaving, a 2% CD gives you some peace of mind and some income while you mull it over.
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