I Think We Should Allocate With Other People
How to break up with your expensive adviser
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It’s always so sweet in the beginning: You meet a financial adviser and hit it off. You smile at the same things—he thinks energy stocks are undervalued, too! He’s great on the phone, and it’s like he just gets you … and your thoughts about prudent allocation to fixed income.
But you start to notice things. Your adviser always wants to go with pricey funds, never the cheaper ones you suggest. Then you find out: He’s been charging fees 10 times higher than you could pay elsewhere. You dump him.