It’s hard for folks to drill-down to the truth of what’s actually important, rigorous, and authentic in the financial industry vs. what’s promotional baloney. Be sure to check under the hood when it comes to Five Star Professional awards.
A new Department of Labor rule was set to go into effect April 10 that would require any advisor working with client retirement accounts to do so under a fiduciary standard…in other words, advising in the best interests of the client. On Friday, President Trump instructed the DOL to “review” the new rule, so we have yet another delay to retirement savers getting the regulatory protection they should expect.
I'm paying a financial advisor 1.5% plus a $750 annual fee to manage my $450,000 portfolio. Is this too much? (David from Miami, FL)
Question: Is 1% a fair fee on a $2,000,000 portfolio? It seems it should be lower. $20,000 feels steep.