Quote:
Originally Posted by Slava
I’m obviously biased, but those ads are doing a huge disservice to people. It implies that they’re performing miracles with their funds, and frankly the performance is questionable at best. Never mind the fact that advisors provide all kinds of other services for their clients, 5% for their aggressive model through November 30 for 2020 seems incredibly disappointing.
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In fact, I would argue that portfolio construction is maybe even one of the lesser services, in the sense that it is relatively straight-forward.
Tax planning, wealth planning, and estate planning can have much greater impacts, either positively or negatively, especially as your net worth rises.
One good tax planning decision/strategy, once realized, can easily pay for 10 years' worth of fees.
But I suppose it's cool to be able to say "you're not still with mom and dad's guy are you?"