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How many of you actually use a portfolio manager or investment advisor


With charges based on a fixed percentage of assets, does an advisor work 10X harder for a person with a $10MM portfolio as he does for one with a $1MM portfolio?
I just have a problem with that fee structure.
Working harder isn't the correct discriminator. Effort doesn't just scale with portfolio size. The 1% from a $10MM portfolio gets one a better adviser. I don't use advisers, but few are willing to spend time to understand and manage their investments. Others are incapable of doing so. This is where advisers play an important role. But perhaps not for us.

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