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Is it good idea to go with Chase investors or BOA like banks financial advisors? Any other brokers recommended? #personalfinance #investments
My friend has Chase and they like it. I use Schwab and I like it. Honesty just stick to the well known companies like the above or Vanguard. Stay away from robinhood unless you’re doing something that their UI would make a lot easier (eg options trading).
Either go with index funds (no fee) or specialized small-scale advisors (if you have a high NW). Mass-market investment firms are crap.
Like which ones?
Go with known brand names like above and use the robot investment option
use Peter Thiels's strategy - specialized firm that invests with roth money into unicorns
Managed investment are a huge ripoff. Just buy some ETFs like vti or voo. Paying a fee above .1% will cut into your compound interest.
I tried using chase for 3 months now - and my money is few percent down while my personally managed portfolio is few percent up in same time period. Point is with mass market investment and most of it being in sp500 I didn’t see any upside of paying the extra few percent of managed portfolio.. atleast banks are not worth it in my opinion. Also they will do a hard sell first promising monthly checkin etc but once I signed up it all went in silence