No. of Recommendations: 0
The $4,000 is a one-time fee. Then you can meet with them annually or whenever for a couple hundred dollars to assess and adjust.

I think that $4,000 is a lot of money. But my problem is that I now have a portfolio that consists of more than 80 different stocks and funds

If that is 1% of the money then it sounds worthwhile to me because you are coming up on the tax year-end and it is very possible that having a good professional get the timing of any tax related issues right might actually save you more than the fee. For example many mutual funds will have a taxable capital gins distribution sometime in December and getting the buying or selling timed just right can make a big difference that could save you money. The same goes with the year-end timing of stocks with a capital gains or losses.

It sounds like you have found someone that you like and can work with and even if you could get the same advice elsewhere cheaper then the worst case is that you made a one time 1% less than optimal choice which in the cosmic scheme of things is things is still doing pretty good. The real problem would be if you got a bad or indifferent advisor that could cost you big bucks over the long term.

Greg

P.S. If anyone tries to sell you an annuity it should be a red flag that they may not be looking out for your interests. They are almost (but not always) a bad choice because of high (sometimes hidden) fees and often below average performance, which just happens to pay the salesperson a large commission.

Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.