Monday, September 13, 2021

Being Smart with $$ - Will Your Mistake of the Last 10 Years Be the Same for the Next 10

 


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

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