Professional Financial Advice
Do you currently or have you used a professional financial advisor? What was your experience like? How much was your net worth when you started using a professional?
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Amazon Snapcrackl Nov 3, 2017
What about when you don’t actually have wealth yet. Like, I’ve got my emergency fund funded, but I don’t know what else to do with my money (I mean, besides spending it on hookers, blow, and a fire truck, obvi). What can a financial advisor do for me?
Gen!x XPbr65 Nov 4, 2017
I don’t. Details here and about 50 responses from a similar question: https://us.teamblind.com/s/4MqkX6Xx
We have been using Morgan Stanley Wealth Management for about 4 years and are happy with them so far. Their minimum investment is $200k. I had about $1M when we started. The main reason for me was to optimize the holdings across taxable and tax deferred accounts and keep everything balanced. They help manage the whole portfolio, not just what is invested with MS. Speak to them about once a month and they proactively reach out whenever action needs to be taken, e.g. harvesting losses at the end of the year, market shifts, etc.
Chose them over others because they were able to build a custom asset allocation strategy, while a lot of other firms would just push you toward their standard portfolio template.