I am curious if anyone here has used any of the Merrill platforms like Wealth Management (250k min), Merill Lynch Self-Directed etc? Can you guys share any feedback especially any experience with financial advisor? Six months ago I opened this account with a known FA. He has been fine but am worried looking at the restrictions on the platform, fees etc so wondering if they are the known crooks or all platforms are like that? Meaning once money is in, is is harder to pull money out, you have to chase for periodic changes to portfolio etc. Basically are they trust worthy or none are (looking at horror stories on how such platforms keep minting fees on your account churning transactions)? I know lot of techies would say manage it yourself, which is what I have been doing before this! I am looking help in managing mainly a fixed income leaning portfolio. What other platforms you have used and like? How about Fidelity etc? Any financial advisors for wealth management you would recommend?#personalfinance #investments #financialadvisor TC: 550k
Just buy etfs brother , if you want to spend a lot of money to feel important, then yeah, if you want to make the most money you can , just get sp500 etf
Thanks yeah understand the equity side. I am relatively new to fixed income and Alternative investments which is were can take advice. Also often such products are offered on such big shops unfortunately seems like it!
Unless you are interested in private equity which few firms will deal with , a “financial advisor” is useless. Some people like the experience so they can brag to others and stuff like that
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Highly likely advisor can't compensate for the fees it charges. Read the permanent portfolio book, it provides returns aligned with sp500 but with lower drawdowns and you can easily handle it yourself.
He is charging less fees like 0.3% on fixed income side. He has to manage too many accounts so can’t do justice to relatively lower assets accounts. But just want to get a poll on what other platforms are out there? If I may ask where do you park your assets and mostly equity?