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.
Very few fiduciary advisors will
SPX 10m ...
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.