Fisher vs Cetera [choosing a firm to work with]
Fisher vs Cetera [choosing a firm to work with]
What do people think of Fisher and Cetera as investment firms for an upcoming retiree? Any suggestions or observations about these companies? Thanks.
Re: Fisher vs Cetera [choosing a firm to work with]
Why? Mostly DIY around here. Is there a reason you need wealth management?
“The stock market is a giant distraction from the business of investing.” -Jack Bogle
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Re: Fisher vs Cetera [choosing a firm to work with]
Fisher charges 1.5% and Cetera charges between 1.25% and 2.75%. Why do you want to make the BMW payment for these clowns?
Bogle: Smart Beta is stupid
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Re: Fisher vs Cetera [choosing a firm to work with]
"Congratulations are in order. . ."
Re: Fisher vs Cetera [choosing a firm to work with]
CardioMD wrote: Wed Aug 19, 2020 10:32 am Why? Mostly DIY around here. Is there a reason you need wealth management?

The "advice" from here would be none of them. You're more likely to have a higher account balance by saving the money going to that sort of "management"
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
Re: Fisher vs Cetera [choosing a firm to work with]
Fisher's new ads claim they are a fiduciary too. You'd think at some point the onerous management fee would exclude them being able to use the fiduciary label?
Re: Fisher vs Cetera [choosing a firm to work with]
If the percentages posted above are accurate (1.25% + fees), and you add the expense ratios of the funds they'll choose, plus the tax churn they'll generate, a good rule of thumb is 2%+ all-in cost.
If you are a young retiree, say early 60s, with 20 years of life expectancy, you'll be transferring about 1/3 of your wealth to them, and the 2/3 you keep will probably earn index-like returns.
I'm not keen on giving away 1/3 of my wealth in that manner, so I just buy the index funds directly. With a little time on this site or reading a Bogle book, you can do the same. If you need hand-holding, something like Vanguard PAS is far far cheaper.
If you are a young retiree, say early 60s, with 20 years of life expectancy, you'll be transferring about 1/3 of your wealth to them, and the 2/3 you keep will probably earn index-like returns.
I'm not keen on giving away 1/3 of my wealth in that manner, so I just buy the index funds directly. With a little time on this site or reading a Bogle book, you can do the same. If you need hand-holding, something like Vanguard PAS is far far cheaper.
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Re: Fisher vs Cetera [choosing a firm to work with]
+1. If advice is really need, look into Vanguard PAS:JoMoney wrote: Wed Aug 19, 2020 10:59 amCardioMD wrote: Wed Aug 19, 2020 10:32 am Why? Mostly DIY around here. Is there a reason you need wealth management?![]()
The "advice" from here would be none of them. You're more likely to have a higher account balance by saving the money going to that sort of "management"
https://investor.vanguard.com/financial ... al-advice/
They only charge 0.3% annually.
AND they will use low cost Vanguard mutual funds/ETFs.
Re: Fisher vs Cetera [choosing a firm to work with]
I prefer MM&I (Me, Myself and I)...
“Adapt what is useful, reject what is useless, and add what is specifically your own.” ― Bruce Lee
Re: Fisher vs Cetera [choosing a firm to work with]
According to the ultra reliable wikipedia they have some of the largest fees around (1 to 1.5%).judith wrote: Wed Aug 19, 2020 10:26 am What do people think of Fisher and Cetera as investment firms for an upcoming retiree? Any suggestions or observations about these companies? Thanks.
On another site I've heard some people not too fond of the company especially in the last decade or so. I have never used them and couldn't imagine paying that kind of fee.
----------------------------- |
If you think something is important and it doesn't involve the health of someone, think again. Life goes too fast, enjoy it and be nice.
Re: Fisher vs Cetera [choosing a firm to work with]
Why not just use a single balanced or target fund from vanguard and forget about it? You’ll save a ton of time and money not having to deal with the management company.
Re: Fisher vs Cetera [choosing a firm to work with]
+1
And pay MM&I accordingly

Say Ya to Da UP, eh?
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Re: Fisher vs Cetera [choosing a firm to work with]
Welcome to the forum! Have you had a chance to read the BH wiki “Getting Started”? If not, here is a link: https://www.bogleheads.org/wiki/Getting_started
The 3-fund portfolio at a low-cost brokerage like Fidelity, Vanguard or Schwab is straight-forward for use by a DIY investor.
If you have some specific reason for wanting to use an advisor, consider editing your post to share that information for best feedback.
The 3-fund portfolio at a low-cost brokerage like Fidelity, Vanguard or Schwab is straight-forward for use by a DIY investor.
If you have some specific reason for wanting to use an advisor, consider editing your post to share that information for best feedback.
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Re: Fisher vs Cetera [choosing a firm to work with]
Welcome to the forum, Judith
How is the soon-to-be-retired person currently managing their investments, and why is a change being considered? If they are already self-managing like the large majority of people on this forum, then I see little reason to stop doing so. This forum can provide additional education and advice. If they’ve always used an advisor and have no interest in DIY, then I’d recommend a low-cost service like a Vanguard’s Personal Advisor.
I would never pay 1% for portfolio management.
How is the soon-to-be-retired person currently managing their investments, and why is a change being considered? If they are already self-managing like the large majority of people on this forum, then I see little reason to stop doing so. This forum can provide additional education and advice. If they’ve always used an advisor and have no interest in DIY, then I’d recommend a low-cost service like a Vanguard’s Personal Advisor.
I would never pay 1% for portfolio management.
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Re: Fisher vs Cetera [choosing a firm to work with]
Hello Judith,
I was a Fisher client from late 2008 thru early 2013. In early 2013, I compared their investment results to both their MCSI World Index benchmark and a similar Boglehead style index mix of the US market and Int'l market. Roughly, over four years, they underperformed the index funds by an average 1.6% per year, and they charged me 1.5% annually for the privilege. At the time I left them, I calculated the poor performance vs the index funds plus their fees cost me $90,000.
I was a Fisher client from late 2008 thru early 2013. In early 2013, I compared their investment results to both their MCSI World Index benchmark and a similar Boglehead style index mix of the US market and Int'l market. Roughly, over four years, they underperformed the index funds by an average 1.6% per year, and they charged me 1.5% annually for the privilege. At the time I left them, I calculated the poor performance vs the index funds plus their fees cost me $90,000.
Re: Fisher vs Cetera [choosing a firm to work with]
Welcome to the Forum, Judith!Artful Dodger wrote: Wed Aug 19, 2020 3:03 pm Hello Judith,
I was a Fisher client from late 2008 thru early 2013. In early 2013, I compared their investment results to both their MCSI World Index benchmark and a similar Boglehead style index mix of the US market and Int'l market. Roughly, over four years, they underperformed the index funds by an average 1.6% per year, and they charged me 1.5% annually for the privilege. At the time I left them, I calculated the poor performance vs the index funds plus their fees cost me $90,000.
There's a certain symmetry in Artful Dodger's post above. Fisher charges 1.5% per year, and they underperform the index funds by 1.6%. The two numbers are definitely connected.
Investment fees matter! Even a "small-sounding" fee like 1-2% per year will act like a colony of termites, silently eating away at your investments. You'll be the poorer, and the investment advisor will be the richer, if you use a firm like Fisher.
There's a link above to the "getting started" part of the Wiki. I strongly suggest that you click through on that link, read it carefully, and then post back on this Forum with any questions that you have.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
Re: Fisher vs Cetera [choosing a firm to work with]
Welcome to the forum!
I am going to give you the same advice as others have given, but state the implications differently. Studies have shown that, depending on age, one can withdraw 3% to 4% of one’s portfolio every year (inflation adjusted) without running out of money in retirement. These managers want 1.5% to manage your portfolio, which is well over 1/3 of your annual withdrawal. Are you comfortable with giving one of these management firms 37 cents (or more) of every dollar you spend in retirement?
We know it can be scary, many of us used to let others manage our money. But you can purchase a single fund at Vanguard (a LifeStrategy fund) that you can hold for life. No complexity. No bother.
We can walk you through the process. We have nothing to gain financially - we don’t get paid any fees or commissions. But we learned how to manage our portfolios and we are willing to share what we learned.
I am going to give you the same advice as others have given, but state the implications differently. Studies have shown that, depending on age, one can withdraw 3% to 4% of one’s portfolio every year (inflation adjusted) without running out of money in retirement. These managers want 1.5% to manage your portfolio, which is well over 1/3 of your annual withdrawal. Are you comfortable with giving one of these management firms 37 cents (or more) of every dollar you spend in retirement?
We know it can be scary, many of us used to let others manage our money. But you can purchase a single fund at Vanguard (a LifeStrategy fund) that you can hold for life. No complexity. No bother.
We can walk you through the process. We have nothing to gain financially - we don’t get paid any fees or commissions. But we learned how to manage our portfolios and we are willing to share what we learned.
It's not an engineering problem - Hersh Shefrin | To get the "risk premium", you really do have to take the risk - nisiprius
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Re: Fisher vs Cetera [choosing a firm to work with]
now why isn't that on their advertising copy?Artful Dodger wrote: Wed Aug 19, 2020 3:03 pm Hello Judith,
I was a Fisher client from late 2008 thru early 2013. In early 2013, I compared their investment results to both their MCSI World Index benchmark and a similar Boglehead style index mix of the US market and Int'l market. Roughly, over four years, they underperformed the index funds by an average 1.6% per year, and they charged me 1.5% annually for the privilege. At the time I left them, I calculated the poor performance vs the index funds plus their fees cost me $90,000.
It's hard to accept the truth when the lies were exactly what you wanted to hear. Investing is simple, but not easy. Buy, hold & rebalance low cost index funds & manage taxable events. Asking Portfolio Questions |


Re: Fisher vs Cetera [choosing a firm to work with]
Welcome to the forum.
Ken Fisher's net worth is 4.3 Billion dollars. He built this wealth successfully by acting in the best interest of the client and consistently beating the market.
Ya right!! My answer would be none of the above. Do some research and do it yourself. Do the math on their AUM fees. That in itself should convince you not to go with them. Simple math says an account balance of 1M is 15K a year in just their fees at 1.5%.
Ken Fisher's net worth is 4.3 Billion dollars. He built this wealth successfully by acting in the best interest of the client and consistently beating the market.


Re: Fisher vs Cetera [choosing a firm to work with]
They are both terrible.
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Re: Fisher vs Cetera [choosing a firm to work with]
If you need help, you can get help for much less. Vanguard, Fido, all the major firms can help.
I actually think Betterment’s service for .4% with an advisor is a great deal. All these are better than the options you list.
I actually think Betterment’s service for .4% with an advisor is a great deal. All these are better than the options you list.
Re: Fisher vs Cetera [choosing a firm to work with]
In general you won't find much support for ongoing adviser relationships around here at any time, but particularly at a time when many people are expecting greatly reduced returns from all asset classes going forward. It was one thing to pay 2% in fees in a 10% return era; another to pay 2% in fees if we end up in a 2% return era.judith wrote: Wed Aug 19, 2020 10:26 am What do people think of Fisher and Cetera as investment firms for an upcoming retiree? Any suggestions or observations about these companies? Thanks.
Re: Fisher vs Cetera [choosing a firm to work with]
Judith, the two firms you are considering are both very bad--high fees, complaints. You can look them up. Bottom line, no to both.
Paul
Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.
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Re: Fisher vs Cetera [choosing a firm to work with]
And they do advertise, and advertise, and advertise!arcticpineapplecorp. wrote: Thu Aug 20, 2020 7:25 amnow why isn't that on their advertising copy?Artful Dodger wrote: Wed Aug 19, 2020 3:03 pm Hello Judith,
I was a Fisher client from late 2008 thru early 2013. In early 2013, I compared their investment results to both their MCSI World Index benchmark and a similar Boglehead style index mix of the US market and Int'l market. Roughly, over four years, they underperformed the index funds by an average 1.6% per year, and they charged me 1.5% annually for the privilege. At the time I left them, I calculated the poor performance vs the index funds plus their fees cost me $90,000.
Re: Fisher vs Cetera [choosing a firm to work with]
I thought Cetera was used by independents and the quality and fee structure would be completely different from firm to firm?
Re: Fisher vs Cetera [choosing a firm to work with]
Thank you all. I just glossed through the comments and feel supported in wanting to manage my own account -- and future. I plan to follow-up with many of your suggestions. I've been managing my own "portfolio" and have restored monies lost from different firms. But now, I am terrified by the move up in markets. I own equities, mostly in technology, you know, FANG. Some recent investments in energy, hydrogen, and also lithium for batteries. But I'm just frightened that I will lose all my gains. Fear is not a strategy and I just need some guidance as to when to sell. I guess I've been an aggressive investor.
I THANK YOU ALL!
I THANK YOU ALL!
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Re: Fisher vs Cetera [choosing a firm to work with]
he sure does hate annuities.Artful Dodger wrote: Thu Aug 20, 2020 2:02 pmAnd they do advertise, and advertise, and advertise!arcticpineapplecorp. wrote: Thu Aug 20, 2020 7:25 amnow why isn't that on their advertising copy?Artful Dodger wrote: Wed Aug 19, 2020 3:03 pm Hello Judith,
I was a Fisher client from late 2008 thru early 2013. In early 2013, I compared their investment results to both their MCSI World Index benchmark and a similar Boglehead style index mix of the US market and Int'l market. Roughly, over four years, they underperformed the index funds by an average 1.6% per year, and they charged me 1.5% annually for the privilege. At the time I left them, I calculated the poor performance vs the index funds plus their fees cost me $90,000.
It's hard to accept the truth when the lies were exactly what you wanted to hear. Investing is simple, but not easy. Buy, hold & rebalance low cost index funds & manage taxable events. Asking Portfolio Questions |


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Re: Fisher vs Cetera [choosing a firm to work with]
Lol I will be borrowing this line in the future

Re: Fisher vs Cetera [choosing a firm to work with]
If he hates annuities, maybe Ken Fisher is a closet Boglehead?arcticpineapplecorp. wrote: Thu Aug 20, 2020 2:42 pmhe sure does hate annuities.Artful Dodger wrote: Thu Aug 20, 2020 2:02 pmAnd they do advertise, and advertise, and advertise!arcticpineapplecorp. wrote: Thu Aug 20, 2020 7:25 amnow why isn't that on their advertising copy?Artful Dodger wrote: Wed Aug 19, 2020 3:03 pm Hello Judith,
I was a Fisher client from late 2008 thru early 2013. In early 2013, I compared their investment results to both their MCSI World Index benchmark and a similar Boglehead style index mix of the US market and Int'l market. Roughly, over four years, they underperformed the index funds by an average 1.6% per year, and they charged me 1.5% annually for the privilege. At the time I left them, I calculated the poor performance vs the index funds plus their fees cost me $90,000.

Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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Re: Fisher vs Cetera [choosing a firm to work with]
not unless he uses a three fund portfolio (which he doesn't).Stinky wrote: Thu Aug 20, 2020 3:39 pmIf he hates annuities, maybe Ken Fisher is a closet Boglehead?arcticpineapplecorp. wrote: Thu Aug 20, 2020 2:42 pmhe sure does hate annuities.Artful Dodger wrote: Thu Aug 20, 2020 2:02 pmAnd they do advertise, and advertise, and advertise!arcticpineapplecorp. wrote: Thu Aug 20, 2020 7:25 amnow why isn't that on their advertising copy?Artful Dodger wrote: Wed Aug 19, 2020 3:03 pm Hello Judith,
I was a Fisher client from late 2008 thru early 2013. In early 2013, I compared their investment results to both their MCSI World Index benchmark and a similar Boglehead style index mix of the US market and Int'l market. Roughly, over four years, they underperformed the index funds by an average 1.6% per year, and they charged me 1.5% annually for the privilege. At the time I left them, I calculated the poor performance vs the index funds plus their fees cost me $90,000.![]()
It's hard to accept the truth when the lies were exactly what you wanted to hear. Investing is simple, but not easy. Buy, hold & rebalance low cost index funds & manage taxable events. Asking Portfolio Questions |


Re: Fisher vs Cetera [choosing a firm to work with]
“We do better when you do better...”.260chrisb wrote: Thu Aug 20, 2020 7:38 am Welcome to the forum.
Ken Fisher's net worth is 4.3 Billion dollars. He built this wealth successfully by acting in the best interest of the client and consistently beating the market.![]()
Ya right!! My answer would be none of the above. Do some research and do it yourself. Do the math on their AUM fees. That in itself should convince you not to go with them. Simple math says an account balance of 1M is 15K a year in just their fees at 1.5%.
Not said, “we still get paid regardless of how we both do because you are lying us to gamble/invest for you”. Still operates as a hedge fund without the traditional 2/20 skim now just 1.5/ and less than 20 skim so they can say they are cheaper than the traditional hedge funds who in the past would shoot the moon in hopes of HUGE gains with downside risk for them at zero.
Wife won’t let me use Ken Fisher firm anyways. When we were pitched this group many years ago she said it was a “boys club”. Ken Fisher ultimately spoke and confirmed her feelings.
Fisher investments don’t do a single thing that a target dated fund at Vanguard doesn’t do already to manage risk.
Re: Fisher vs Cetera [choosing a firm to work with]
You should read some of the stuff here.... Using a thing like Fisher vs. buying random stocks is much of a muchness IMO.judith wrote: Thu Aug 20, 2020 2:21 pm Thank you all. I just glossed through the comments and feel supported in wanting to manage my own account -- and future. I plan to follow-up with many of your suggestions. I've been managing my own "portfolio" and have restored monies lost from different firms. But now, I am terrified by the move up in markets. I own equities, mostly in technology, you know, FANG. Some recent investments in energy, hydrogen, and also lithium for batteries. But I'm just frightened that I will lose all my gains. Fear is not a strategy and I just need some guidance as to when to sell. I guess I've been an aggressive investor.
I THANK YOU ALL!
|
Rob |
Its a dangerous business going out your front door. - J.R.R.Tolkien
Re: Fisher vs Cetera [choosing a firm to work with]
Provide the group with more info using a standardized BH format that has previously been noted. They contributors can help guide and offer advice methods to manage risk and tax efficiency in a Simplified and understandable manner. The hedge funds and financial advisors thrive on the fear of complexity, fear or risk, or worse greed on the part of the investor.judith wrote: Thu Aug 20, 2020 2:21 pm Thank you all. I just glossed through the comments and feel supported in wanting to manage my own account -- and future. I plan to follow-up with many of your suggestions. I've been managing my own "portfolio" and have restored monies lost from different firms. But now, I am terrified by the move up in markets. I own equities, mostly in technology, you know, FANG. Some recent investments in energy, hydrogen, and also lithium for batteries. But I'm just frightened that I will lose all my gains. Fear is not a strategy and I just need some guidance as to when to sell. I guess I've been an aggressive investor.
I THANK YOU ALL!
Re: Fisher vs Cetera [choosing a firm to work with]
My guess is it will be difficult for you to accept that there really is no "management" involved in recommendations you'll get here. Virtually no buying or selling ever, except for regular withdrawals in retirement. And certainly no stock or typically even sector selection. Particularly if you've been successful with tech stocks (or some other equities or sectors), it can be hard to give up any chance for above-index returns.judith wrote: Thu Aug 20, 2020 2:21 pm Thank you all. I just glossed through the comments and feel supported in wanting to manage my own account -- and future. I plan to follow-up with many of your suggestions. I've been managing my own "portfolio" and have restored monies lost from different firms. But now, I am terrified by the move up in markets. I own equities, mostly in technology, you know, FANG. Some recent investments in energy, hydrogen, and also lithium for batteries. But I'm just frightened that I will lose all my gains. Fear is not a strategy and I just need some guidance as to when to sell. I guess I've been an aggressive investor.
I THANK YOU ALL!
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Re: Fisher vs Cetera [choosing a firm to work with]
Welcome to the forum
.
To answer your original question, I would not use those firms, or any firm to manage our money.

To answer your original question, I would not use those firms, or any firm to manage our money.
If you want some investing ideas please post all the necessary details like this: "Asking Portfolio Questions" .judith wrote: Thu Aug 20, 2020 2:21 pm Thank you all. I just glossed through the comments and feel supported in wanting to manage my own account -- and future. I plan to follow-up with many of your suggestions. I've been managing my own "portfolio" and have restored monies lost from different firms. But now, I am terrified by the move up in markets. I own equities, mostly in technology, you know, FANG. Some recent investments in energy, hydrogen, and also lithium for batteries. But I'm just frightened that I will lose all my gains. Fear is not a strategy and I just need some guidance as to when to sell. I guess I've been an aggressive investor.
I THANK YOU ALL!
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
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Re: Fisher vs Cetera [choosing a firm to work with]
Judith,judith wrote: Thu Aug 20, 2020 2:21 pm Thank you all. I just glossed through the comments and feel supported in wanting to manage my own account -- and future. I plan to follow-up with many of your suggestions. I've been managing my own "portfolio" and have restored monies lost from different firms. But now, I am terrified by the move up in markets. I own equities, mostly in technology, you know, FANG. Some recent investments in energy, hydrogen, and also lithium for batteries. But I'm just frightened that I will lose all my gains. Fear is not a strategy and I just need some guidance as to when to sell. I guess I've been an aggressive investor.
I THANK YOU ALL!
This is a strong reason to abandon the single stock picking that you've done. If you take Jack Bogle's advice and buy the entire market (say with VTI = VTSAX), then your Apple stock or lithium stock or whatever stock can go to zero and you still don't get killed. I owned Polaroid back in the day when it was a blue chip....until it was in bankruptcy. I lost it all. With VTI, and a million dollar investment, maybe I'd have lost 7 cents. Target date funds are even more diversified with bonds and international thrown in. So say Tesla goes bust. You can sit back and say "that's too bad" and watch your portfolio do nothing.
Bogle: Smart Beta is stupid
Re: Fisher vs Cetera [choosing a firm to work with]
Fear is not a strategy. But, I had a wave of fear ride over me as you gave a brief glimpse into your near retirement portfolio. I suspect that if and when you post your portfolio here, the guidance will be to sell most of the individual stocks now and move into diverse broad based fund(s). Consider working with a fee only advisor like BH board members Allan Roth or Rick Ferri to help with the move towards a more risk appropriate portfolio.judith wrote: Thu Aug 20, 2020 2:21 pm I own equities, mostly in technology, you know, FANG. Some recent investments in energy, hydrogen, and also lithium for batteries. But I'm just frightened that I will lose all my gains. Fear is not a strategy and I just need some guidance as to when to sell. I guess I've been an aggressive investor.
I THANK YOU ALL!
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Re: Fisher vs Cetera [choosing a firm to work with]
Neither. That extra 1%+/year is an incredible amount of wealth destruction.
Re: Fisher vs Cetera [choosing a firm to work with]
Of course they do! Every AUM advisor does!

As your portfolio grows, their piece of the action gets bigger too.
"Re-verify our range to target ... one ping only."
Re: Fisher vs Cetera [choosing a firm to work with]
Either firm is mediocre and charge too much. You can do the investing yourself and get a reasonable rate of return by using just a several funds and getting advice here. The more difficult part is getting the appropriate financial planning support which no one here is in an appropriate position to give advice. If you want to go it alone then try to find a flat fee planner. Please note that most advisors who state that they are fixed fee are really just a fixed percentage of assets under management. Its not a flat fee. Drives me nuts.
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Re: Fisher vs Cetera [choosing a firm to work with]
Agree 100% with the above.Jack FFR1846 wrote: Fri Aug 21, 2020 10:29 amJudith,judith wrote: Thu Aug 20, 2020 2:21 pm Thank you all. I just glossed through the comments and feel supported in wanting to manage my own account -- and future. I plan to follow-up with many of your suggestions. I've been managing my own "portfolio" and have restored monies lost from different firms. But now, I am terrified by the move up in markets. I own equities, mostly in technology, you know, FANG. Some recent investments in energy, hydrogen, and also lithium for batteries. But I'm just frightened that I will lose all my gains. Fear is not a strategy and I just need some guidance as to when to sell. I guess I've been an aggressive investor.
I THANK YOU ALL!
This is a strong reason to abandon the single stock picking that you've done. If you take Jack Bogle's advice and buy the entire market (say with VTI = VTSAX), then your Apple stock or lithium stock or whatever stock can go to zero and you still don't get killed. I owned Polaroid back in the day when it was a blue chip....until it was in bankruptcy. I lost it all. With VTI, and a million dollar investment, maybe I'd have lost 7 cents. Target date funds are even more diversified with bonds and international thrown in. So say Tesla goes bust. You can sit back and say "that's too bad" and watch your portfolio do nothing.
Judith, look into a 'two fund portfolio' or 'three fund portfolio'.
The idea is that you decide your risk level. Then, based on your risk level, you will put a certain portion of your portfolio into stocks, and the rest into bonds. (ie: 60% stocks, 40% bonds)
Of your stocks, you will put most of them into "total stock market", which is the most diversified way to put money into the U.S. stock market. You may want to further diversify by putting some of the stock money into "total international market". Some people do, some don't. You'll do fine if you don't put any money into international.
You put all of your bonds in "total bond market".
Check your balances once or twice a year and rebalance to get back to your desired risk levels.
And that's it.

Re: Fisher vs Cetera [choosing a firm to work with]
I had a Cetera advisor for several years before moving to self management at Vanguard. Some in my family are still with him. The guy was an independent advisor who used Cetera as a platform, so the branding was a bit light - i.e., we were with him more than Cetera.
Positives:
- Way better than our previous advisor, who sold us illiquid garbage we've still not managed to divest ourselves of.
- Costs aside (see below), had us in a risk appropriate mix of diverse and liquid stock and bond funds.
- When we moved on, it was easy. No closing fees, hard sells. Other than capital gains, easy to liquidate.
Negatives:
- Costs. 2% a year when adding AUM fees (~1.2) and fund expenses (~0.8).
- Too many overlapping funds. Probably 12-15 overall.
- In person office. I didn't get any value from this, and it was frankly kind of a hassle to go out there for periodic visits.
- Extra layer. Once I educated myself, I didn't like having a person between myself and my money.
Outside of fees, performance was similar to "market" - i.e., what you'd get from Vanguard PAS for less than 0.4% (including fund fees) or even less by yourself.
Positives:
- Way better than our previous advisor, who sold us illiquid garbage we've still not managed to divest ourselves of.
- Costs aside (see below), had us in a risk appropriate mix of diverse and liquid stock and bond funds.
- When we moved on, it was easy. No closing fees, hard sells. Other than capital gains, easy to liquidate.
Negatives:
- Costs. 2% a year when adding AUM fees (~1.2) and fund expenses (~0.8).
- Too many overlapping funds. Probably 12-15 overall.
- In person office. I didn't get any value from this, and it was frankly kind of a hassle to go out there for periodic visits.
- Extra layer. Once I educated myself, I didn't like having a person between myself and my money.
Outside of fees, performance was similar to "market" - i.e., what you'd get from Vanguard PAS for less than 0.4% (including fund fees) or even less by yourself.
Re: Fisher vs Cetera [choosing a firm to work with]
If you want to outsource your investment management, I would use a flat fee advisor such as Evanson Asset Management.
https://www.evansonasset.com/fees-and-services-11.htm
I have no experience with this or any other investment management firm, it just would make sense to me to pay $2k per year, rather than a percentage of your assets, but i guess you'd need to do the math for your own situation.
https://www.evansonasset.com/fees-and-services-11.htm
I have no experience with this or any other investment management firm, it just would make sense to me to pay $2k per year, rather than a percentage of your assets, but i guess you'd need to do the math for your own situation.