TrotHexedCoyote
New Member
Asking for a friend!
I’ve talked to a few financial advisors in the past who charged a percentage—honestly, once I learned more about that model, I wasn’t a fan, so I stopped working with them. These days, I have an FA I pay a flat fee of $7k a year (it was a little less to start).
Now a buddy of mine is on the hunt for a financial advisor, and I’m not totally sure what’s out there right now. So, what’s the going rate?
Here’s a quick snapshot of his situation: He’s 45, his wife’s 44, and they’ve got four kids under 10. Their assets are split about 50% in some kind of business structure and 50% in their personal names. Combined income is around $500k, and their portfolio sits at about $13–15 million—70% in property (both residential and commercial, with an LVR of about 65%), and the rest in wholesale funds and ETFs.
So the big question: What’s the typical initial fee and ongoing fee to manage a portfolio that size and help them optimize what they’ve got?
Also, if anyone has recommendations for FAs who really get clients who are still a ways from retirement, that’d be awesome.
Cheers!
I’ve talked to a few financial advisors in the past who charged a percentage—honestly, once I learned more about that model, I wasn’t a fan, so I stopped working with them. These days, I have an FA I pay a flat fee of $7k a year (it was a little less to start).
Now a buddy of mine is on the hunt for a financial advisor, and I’m not totally sure what’s out there right now. So, what’s the going rate?
Here’s a quick snapshot of his situation: He’s 45, his wife’s 44, and they’ve got four kids under 10. Their assets are split about 50% in some kind of business structure and 50% in their personal names. Combined income is around $500k, and their portfolio sits at about $13–15 million—70% in property (both residential and commercial, with an LVR of about 65%), and the rest in wholesale funds and ETFs.
So the big question: What’s the typical initial fee and ongoing fee to manage a portfolio that size and help them optimize what they’ve got?
Also, if anyone has recommendations for FAs who really get clients who are still a ways from retirement, that’d be awesome.
Cheers!