Low Cost Firms

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mrpixel
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Joined: Thu Jun 24, 2021 12:05 pm

Low Cost Firms

Post by mrpixel »

Hello all, new here.

My full service firm the past 15 years has switched over to a WRAP Fee management style, no longer interested in stock buying, selling or recommendation services on an individual basis. Part of my money was in one of their managed accounts and after ten years I sold it at a modest profit. This triggered them and they have asked me to leave. They suggested TD Ameritrade. I like the idea of having an advisor to stop me from doing something not in my best interest. I'm a buy and hold investor, most of my stock are on the DRIP protocol, so I'm good overall. But I have to leave according to them and ma looking for a new place.

Any insights or recommendations based on personal experience are welcomed.

Thank you very, much.

M
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ObliviousInvestor
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Re: Low Cost Firms

Post by ObliviousInvestor »

Are you looking for an advisory firm to manage your assets on an ongoing basis? If so, Vanguard's Personal Advisor Service is inexpensive relative to most options.
https://investor.vanguard.com/advice/fi ... r-services

Or are you just looking for somebody with whom you can check in periodically? For that, an hourly advisor might be a better fit. Allan Roth and Sotirios Keros are two such professionals who are active in the Bogleheads community. Or you may want to look for a local professional from the Garrett Planning Network.
https://daretobedull.com/
http://stkplanning.com/
https://www.garrettplanningnetwork.com/
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livesoft
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Re: Low Cost Firms

Post by livesoft »

I have accounts at a few brokerages and pay no fees. For instance, I have an account at TDAmeritrade and pay no commissions nor fees. I do not pay an advisor, but I am a member of their "Private Client" service, so could call one and ask questions. I suppose you could do the same thing and just call one to be told, "Don't do that!" if that is what you want. Vanguard may be even better for you because if you called them, then they might take too long to answer your phone call and you will hang up and do nothing.

Bottom line: Once a portfolio is set up, then most often the best thing to do is: Do nothing.
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ruralavalon
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Re: Low Cost Firms

Post by ruralavalon »

Welcome to the forum :D

Another resource for finding an advisor is www.napfa.com.

To decide of you need an advisor read "Chapter 10 – On Your Own or Hire an Advisor", link. "The great paradox of using an advisor is that you must know some basics in order to evaluate the advice, and once you do, you also know enough to consider doing your own management. If you have gotten this far through the primer, you are already a more knowledgeable investor."
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
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arcticpineapplecorp.
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Re: Low Cost Firms

Post by arcticpineapplecorp. »

ruralavalon wrote: Thu Jun 24, 2021 2:14 pm Welcome to the forum :D

Another resource for finding an advisor is www.napfa.com.

To decide of you need an advisor read "Chapter 10 – On Your Own or Hire an Advisor", link. "The great paradox of using an advisor is that you must know some basics in order to evaluate the advice, and once you do, you also know enough to consider doing your own management. If you have gotten this far through the primer, you are already a more knowledgeable investor."
looks like the link www.napfa.com works, but it redirects to www.napfa.org

so it seems to load faster and more direct to go to:
www.napfa.org
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Topic Author
mrpixel
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Joined: Thu Jun 24, 2021 12:05 pm

Re: Low Cost Firms

Post by mrpixel »

Thanks all for the great advice and insight. I have some homework to do!

Regards,

M
bradinsky
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Re: Low Cost Firms

Post by bradinsky »

livesoft,
“Vanguard may be even better for you because if you called them, then they might take too long to answer your phone call and you will hang up and do nothing.”

Kind of mean, but very funny!!
tibbitts
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Re: Low Cost Firms

Post by tibbitts »

Everybody seems to be missing the point that the OP is specifically looking for "stock buying, selling or recommendation services on an individual basis" and that's definitely not anything you can get at Vanguard. Or here at Bogleheads for that matter.
livesoft
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Re: Low Cost Firms

Post by livesoft »

bradinsky wrote: Thu Jun 24, 2021 2:41 pm livesoft,
“Vanguard may be even better for you because if you called them, then they might take too long to answer your phone call and you will hang up and do nothing.”

Kind of mean, but very funny!!
It is just one of those behavioral finance "nudges" that Nobel Laureate Richard Thaler is known for.
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bradinsky
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Re: Low Cost Firms

Post by bradinsky »

livesoft wrote: Thu Jun 24, 2021 2:55 pm
bradinsky wrote: Thu Jun 24, 2021 2:41 pm livesoft,
“Vanguard may be even better for you because if you called them, then they might take too long to answer your phone call and you will hang up and do nothing.”

Kind of mean, but very funny!!
It is just one of those behavioral finance "nudges" that Nobel Laureate Richard Thaler is known for.
I thought it was a livesoftism😁 I appreciate your posts & contributions!
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