Does this sound like you?
You are paying a financial adviser 1% of your portfolio which is $10,000
every year on $1 million in assets and your adviser puts you in a bunch of affiliated
mutual funds that perform worse than low-cost index funds but he or she gets
another fee stream for doing so and you earn 1% less than you should which costs
you another $10,000. And someone tells
you about hourly, fee-only advice that does not recommend high-cost investments
and does not take the high, recurring adviser fees but inertia keeps you from
doing anything about it because your adviser is a friend from high school. And this inertia costs you roughly $320,000
in lost growth over 10 years. Does this
sound like you? If this is what happened
to you over the last 10 years, will it be your next 10 years too?
(Actual results may vary and values are based exclusively on fees
charged.)
Larry Pike, CFA
Client Priority Financial Advisors LLC
www.clientpriority.com
