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With any reasonably sizable amount of money (and 5 mil definitely fits that), you should have multiple investment advisors and accounts with each of them (and t
by gte910h 17y ago
With any reasonably sizable amount of money (and 5 mil definitely fits that), you should have multiple investment advisors and accounts with each of them (and they should not know about one another or the rest of your investments).
- bjoernw 17y agothat's terrible advice. An investment advisor needs to know about your overall wealth to tailor a strategy to your situation. And 5 million is not that much. Managing 5 million or 10 million is pretty much the same amount of work. It actually gets easier when you're dealing with bigger sums because some bonds only trade in larger amounts.
- gte910h 17y agoYou're not separating it due to work load. You're isolating yourself from a bad egg. The point is to insure yourself against utter crooks/total screwups.