DigiNoman, I know.  Just venting.

    Matt,
     
    If you agree with this video segment, ask you mom to review the video at the mark 24:32 on "Ask Clark: Fee only advisor for Lower Income".

    https://youtu.be/eC5UQSfRR44?si=8xEfNaVMbLiD_THM&t=1472


    Very few fiduciary advisors will

    Posted by DigiNomad on 12th of Jun 2024 at 02:16 pm

    Very few fiduciary advisors will touch a sub 50k account.  Most have minimums around 500k.  If they do make an exception, give them a break if they don't call you a lot and won't execute BPT's STS strategy on your portfolio while you sit at the pool. Have 5 million? Then yes, you are starting to enter the territory where you can make requests like that (but the answer will still mostly be no). It just doesn't make sense for an advisor to spend personalized time on a 50k portfolio when charging .5% to 1.5% AUM fee...he/she would do much better working at a California McDonalds.
    Non fiduciary advisors will scoop up the 50k accounts though. They mostly just stick everyone in a vanilla portfolio and move on the the next sale. 

    DigiNomad, Thank you for this

    Posted by fluffycone on 12th of Jun 2024 at 02:21 pm

    DigiNomad, Thank you for this insight.

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