I have some money set aside and was hoping to put them to a bank for a financial advisor to manage it. I've talked to both banks (since I already have accounts with both of them so moving money would be easy) and still undecided - both seems to have reasonable good rates and instruments. Anyone has any experience with them or suggestions?#personalfinance #investments PS I'm in the Bay area if that makes a difference. Mandatory TC 400k
No, don’t. Depends on your goals but put in QQQ and forget. Why do you want an advisor in the first place?
Why not QQQM?
chase’s you invest portfolio
Just DCA into VOO and some QQQ if you want more tech exposure.
whats DCA?
Dollar cost average
Merrill has more of a holistic planning approach compared to Chase. More centered around meeting life goals than cranking returns. Shoot me a DM!
It’s all about returns. The approach is how long to meet those goals affects your volatility. Short term goals = low volatility and long term goals = more volatility . Obviously everyone wants me returns but what are the best ways to do that in a certain time frame
Idk about getting a financial advisor to manage it. They’re going to charge you fees that don’t make sense. Can you tell us what fees they gave you? Are you trying to have your money actively managed? I use the chase investing platform and it’s alright. Nothing like fidelity but gets the job done. There’s reviews online as well.
thanks for replying. So they both charge about .8% annual fee and I just want to not having to worry about this money while still having it being taken care of (in the sense that it's still being moved around according to the market), if that makes sense.
.8 is very high. You can invest that into a total market fund like VTSAX and pay a waaaaay less fee. Remember that on average in the long term, the market > actively managed funds.