4 ms·
Like I said, I'm not a financial wizard, so I'm mostly in cash and I've missed some upside. Not completely, have a pile of Apple stock that's done well, but I'
by luckydude 9y ago
Like I said, I'm not a financial wizard, so I'm mostly in cash and I've missed some upside. Not completely, have a pile of Apple stock that's done well, but I'm not the right guy to be managing money. So I've moved most of it to a guy at Morgan Stanley that a friend has been using for a long time.
- iends 9y agoEnjoying those fees?
- icedchai 9y agoWhat are you paying, out of curiosity? 1% of AUM?
- luckydude 9y agoIt varies based on what gets traded. And I don't really know because I stopped thinking about what I was paying and started thinking about what I'm earning. I really don't care what his cut is if I'm netting 3.75-4.0% on average.
- icedchai 9y agoIf that works for you, that's fine... It's your money. You're probably paying this guy 1% in fees and expenses, minimum. To be frank, 4% is not good. For comparison, my Vanguard account, which is mainly low cost ETFs and index funds, has had a 11.8% average annual return over the past 5 years.