Financial advisors
Would you recommend using a financial advisor at Fidelity?
Terry Says
Not if you have a good idea of what you’re doing. That raises the costs substantially. Not only is there likely a management fee, but advisors tend to put people into higher cost funds. That is, the same funds, but ones that have a higher fee structure — either along the way or when you sell.
If you’re going to talk with an advisor, you should get a complete breakdown of ALL fees and underlying costs and commissions, including “back-end” commissions down the road when you sell. Advisors don’t work for free. It’s up to you to understand what you would be paying and then decide if you should create your own diversified portfolio, and if you have hte discipline to stick to your plan.
