He's been managing a $500k account I received when I was 18 from a life insurance payout. I pay him a fee of ~0.9% annually. I don't plan to touch the account for a long, long time, excpet to donate stock as charitable contributions. He plays around with options, but actively that's about all it seems. Portfolio continutally underperforms the market because the initial portfolio manager (~20 years ago) invested in a bunch of large cap stocks and unwinding those positions would incur some huge capital gains.
The $5k I pay annually has started to bug me. Should I be keeping him on as an advisor?
Submitted April 13, 2020 at 09:21PM by AvocadosForLife44 https://ift.tt/3b9u3P9
