Has anyone used VG advisory? The quandary of professional wealth management
I have my stuff at MS. Most of the wealth there is not subject to any AUM fees .... yet. My deal with the guy is that when my liquidity event happens, at some point, he'll charge it.
My issue is, will it ever be worth the 1% to 1.5% (some higher)? Do I just build a bond ladder when I retire and call it good? I need to make plans for a move one way or the other, but I can't see myself paying the AUM and I can't see myself going it alone.
What are you all planning to do?
https://www.doughroller.net/investing/vanguard-advisory-services-review/
Comments
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Idk paying wealtmanagers to pick funds is a fucking waste of money and drag on return. Only worth if you are lazy
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Are you saying it's different if they are picking stocks?FireCohen said:Idk paying wealtmanagers to pick funds is a fucking waste of money and drag on return. Only worth if you are lazy
I guess the real question is whether professional money management is worth the AUM? -
It depends. Are you looking for just a money manager or trust and estate help too?creepycoug said:
Are you saying it's different if they are picking stocks?FireCohen said:Idk paying wealtmanagers to pick funds is a fucking waste of money and drag on return. Only worth if you are lazy
I guess the real question is whether professional money management is worth the AUM?
You could also look to pay a flat fee for one-off CFP advice instead of a yearly fee.
I am probably younger than you but I like doing all of my stuff myself (other than trust / estate in the future) because a 1% management fee (give or take 25 bps) along with any ETF / Mutual Fund specific fees really add up as the years go on. My errors in judgement (holding a loser too long, selling a winner too early, or generally being FS) haven't cost me quite as much as the fees and errors in judgment a professional would cost over the years. -
We've got a portion of our money being managed. I'm doing a little bit of wait and see, but I do look frequently. Best argument I can see for it at this point is that I don't have access to some investments they do have access to. So far so good, but I'm not sure they're doing any better than I do with the rest. And frankly, the boring, passive, low cost Vanguard index funds have done damn well too.
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Creep seems like u done well for yourself u don’t need those morons to touch ur $. Most of them don’t do individual stock picking anyways. They tell you some bullshit that you need a diversified portfolio blah blah and how much you should be paying them.creepycoug said:
Are you saying it's different if they are picking stocks?FireCohen said:Idk paying wealtmanagers to pick funds is a fucking waste of money and drag on return. Only worth if you are lazy
I guess the real question is whether professional money management is worth the AUM? -
I have to get my shit straight before investing again
It fucking kills me that I lost my 800 credit score at 26. -
Bragging about that score lolPitchfork51 said:I have to get my shit straight before investing again
It fucking kills me that I lost my 800 credit score at 26. -
Mines like 300 I'm assumingFireCohen said:
Bragging about that score lolPitchfork51 said:I have to get my shit straight before investing again
It fucking kills me that I lost my 800 credit score at 26. -
I decided about a decade ago to just take the slow and steady simple approach to the small portfolio I have. Index it all and stop worrying about it. So, the whole shitpile is still indexed across a few different indexes and I haven't worried about it in years. I'm more worried about my watches valuation than my stocks and bonds.
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Lol fortunately I gave that advice to my mom and sister and they are sitting pretty while I went bankrupt. Go figure.Swaye said:I decided about a decade ago to just take the slow and steady simple approach to the small portfolio I have. Index it all and stop worrying about it. So, the whole shitpile is still indexed across a few different indexes and I haven't worried about it in years. I'm more worried about my watches valuation than my stocks and bonds.
