Don't do it

I have talked to some asset management guys before. I would say don't waste your money on them and you will do better without them.

Come on, the return of the portfolio that I managed by myself outperforms their "model portfolio" in every period of time. I would have kicked myself if I had used them.

By the way, $250K is a little too low for them any way. Most of them do expect about $1M asset and they charge about 1% of the total asset. Even for $250K, they will charge about $2500 a year, no matter how the portfolio performs.

There are other things that I do not like these so called "asset management" fellows is that they want you to move a lot of holdings into the account that they manage for you. For example, you may have some 529 plan, which they can not manage for you. They will ask you to sell it or stop invest in it, with some garbage reason, so that you can move everything into his account and he can earn commission. To be honest, I feel like being cheated when I heard that.

I would not hire anybody like that to manage my money.

所有跟帖： 

• Frankly, this is a bit of misleading. -jellybean3- ♀ (523 bytes) () 04/16/2007 postreply 09:51:00

• The key is finding the good one. -A-mao- ♂ (46 bytes) () 04/16/2007 postreply 09:54:59

• Maybe I am a little too harsh on them -skyport- ♂ (598 bytes) () 04/16/2007 postreply 10:02:37

• U haven't found a good one yet. -jellybean3- ♀ (0 bytes) () 04/16/2007 postreply 10:19:58

• They're not supposed to be the sales. -jellybean3- ♀ (87 bytes) () 04/16/2007 postreply 10:21:49

• They do try to be very nice to you -skyport- ♂ (218 bytes) () 04/16/2007 postreply 10:29:45

• Gifts r not communications. -jellybean3- ♀ (189 bytes) () 04/16/2007 postreply 10:54:15

• Oh yeah, they do promise me that too -skyport- ♂ (453 bytes) () 04/16/2007 postreply 11:01:13

• That's fine if you have the time and chose to manage it yourself -jellybean3- ♀ (126 bytes) () 04/16/2007 postreply 11:06:45

• Well, what is the performance of a Good one? -skyport- ♂ (427 bytes) () 04/16/2007 postreply 10:25:53

• Considering to start accept your own client? -jellybean3- ♀ (0 bytes) () 04/16/2007 postreply 10:55:42

• No I am not qualified -skyport- ♂ (232 bytes) () 04/16/2007 postreply 11:04:26

• What are your returns since you began to invest? -U6D3- ♂ (17 bytes) () 04/16/2007 postreply 11:31:03

• I would love to share. -skyport- ♂ (145 bytes) () 04/16/2007 postreply 11:36:05