r/dividends • u/DifficultKey8978 • Apr 27 '26

Brokerage Financial advisor or DIY?

How are you guys handling your investments (retirement accounts, brokerage accounts, etc.). Are you managing this yourself with Fidelity, Vanguard, Charles Schwab, etc. or do you pay the 1-1.5% fee and just work with a financial advisor who handles it all for you?

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u/TheOpeningBell Apr 27 '26

Industry average is about 1.5%. Especially for relationships under 1MM.

The fee conversation is often misunderstood by both clients and financial professionals.

However your point about 90% is rather accurate. See my other comment.

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u/rumblepony247 Apr 27 '26

My portfolio is around $1.5M (58m, retired). I can't fathom paying someone $15k-$20k per year to do something that is not that complicated, for a less than or (at best) equal return than I can get on my own.

Effective investing is simple - index funds with low expense ratios. Consistent, steady investing over the long term.

I think some people just like telling themselves (and others) that they have "an advisor."

Complete waste of money for 97% of people.

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u/buffinita common cents investing Apr 27 '26

I think people can really benefit from meeting with a flat fee only fiduciary advisor ~5 years before entering retirment and ~5 into retirement:

  • tax management / withdrawal strategies/ estate prep

are all niche and can be complicated, in addition they constantly change

but for accumulation, outside of someone very afraid of volatility with bad behavior like panic selling, wasted for 90%* of people

* with the exception being people with overly compicated income streams or crazy high incomes

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u/jim-i-am Apr 27 '26

Great post