Is $50,000 too much to pay for financial advice on a $300,000 retirement account? Well, that's your average cost over 10 years when paying a simple annual 1% fee. Consider hourly, fee-based advice instead which would likely save you 80% of that cost. If you were offered a low-risk chance to make $40,000, wouldn't you take it? Is your portfolio even larger? The difference is even more substantial.
(Note: Cost includes fees and lost earnings on those fees. Assumes 6% investment returns.)
- Larry Pike, CFA, Client Priority Financial Advisors LLC
- www.clientpriority.com
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