How much is reasonable for a financial advisor?
I guy I have worked with on a number of things is probably going to take up my stock portfolio (i.e. retirement accounts).
I pretty much trust him. I knew his brother in med school. I've known him now for several years.
With my small retirement fund, he had recommended I mainly invest in index funds.
But now he says my little pot of money is large enough to manage.
He says that historically he beats the S&P 500 by 2-3%. He would charge 1% per year for him and his employees to manage my accounts.
Is 1% a reasonable charge for a relatively high-maintenance management?
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