How do I fire my financial advisor?

1 WEALTHADVISOR, regarding your answer "Tell him his fees are too high and you are taking your business elsewhere. ": My funds are managed by a well known and trusted Trust Co. Their fees are based on an annual 1% —I think!

Now that's terrible. I know so little about investment that I can't imagine what questions to ask. I've thought of trying someone else with a modest amount to see if their performance yields better profit.

What do you think? .

Just because you terminate your personal relationship with your financial advisor (sounds like a broker to me) your don't have to move your investments. Just tell him his fees are too high and you are taking your business elsewhere. Some advisors put clients in a wrap account.

They tell their clients there is no charge for buying and selling stocks (sounds good) but they charge a percent of the total value of the account each year. This wrap fee is the worst because as the value of your portfolio grows, the fee percent is calculated against a larger account value.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.

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