I Have $2 Million Invested With My Financial Advisor and Pay a 1 ... - Yahoo Finance

Paying a 1% annual fee to a financial advisor for managing a $2 million investment portfolio is pretty typical, but that doesn’t necessarily mean it’s the right amount for every investor. Even small-sounding financial advisor fees can seriously erode long-term returns when compounded over years or decades. A 1% annual fee on a $2 million portfolio earning 7% could cost you more than $375,000 over 10 years. You may be able to get better performance by choosing a less costly advisor or otherwise finding a lower fee rate. The key is to identify specific services you are receiving in exchange for those fees and carefully evaluate whether your portfolio’s performance and advisor relationship justify the costs from ...

Yahoo     Nov 29, 2023