My grandfather passed away recently and I am inheriting about 1 million dollars. I have reason to believe some of the money was mismanaged by a family member but I have no idea to what extent. The person who managed the account also passed away recently and the account was taken over by another broker in the same very large firm. They are willing to go over the account to check for discrepancies, however they are neither a fiduciary or fee-only, which I have read from this subreddit are important to have in a financial advisor.
Should I transfer the money to my own account and look for a different financial planner? Should I stick with the person who can look into possible mishandling of the money now even though they aren't ideal? Would a different financial advisor at a different firm still be able to investigate? Can I hire them only for the amount of time it takes for them to look into the issue? They seem to be keen on being my financial advisor and help me come up with a plan to invest the money, but would this be akin to hiring them and owing them commission?
Submitted December 23, 2018 at 05:49AM by ApprehensiveTell5 http://bit.ly/2V1WUNT
