Financial Adviser

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ramsfan14
Posts: 1
Joined: Tue Mar 12, 2019 12:55 pm

Financial Adviser

Post by ramsfan14 » Mon Jan 13, 2020 3:20 pm

With the market at an all-time high, I have been able to get 1 million under my management at Vanguard. John Bogle and I refuse to pay for financial advisement to the tune of 3k. Am I entitled to free advice from Vanguard?

Silk McCue
Posts: 3813
Joined: Thu Feb 25, 2016 7:11 pm

Re: Financial Adviser

Post by Silk McCue » Mon Jan 13, 2020 4:37 pm

I would call and ask. What advice do you need that you didn't need at $900k?

I personally don't want or need Vanguards advice.

Bogleheads can certainly provide you with advice. Just post using the format described in the link below.

https://www.bogleheads.org/wiki/Asking_ ... _questions

Cheers

123
Posts: 5392
Joined: Fri Oct 12, 2012 3:55 pm

Re: Financial Adviser

Post by 123 » Mon Jan 13, 2020 4:51 pm

The Vanguard website for Flagship benefits ($1M to $5M) includes the following: https://investor.vanguard.com/investing ... s/flagship

"You'll also have access to financial advice from a Certified Financial Planner™ professional through Vanguard Personal Advisor Services® for a fee. Our advisors can help you with specific investment questions or provide ongoing advisory and portfolio management services."

So it looks like a fee remains for PAS at Flagship level.

$ 1,000,000.00 used to be something, today not so much.
The closest helping hand is at the end of your own arm.

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Eagle33
Posts: 294
Joined: Wed Aug 30, 2017 3:20 pm

Re: Financial Adviser

Post by Eagle33 » Mon Jan 13, 2020 11:08 pm

123 wrote:
Mon Jan 13, 2020 4:51 pm
The Vanguard website for Flagship benefits ($1M to $5M) includes the following: https://investor.vanguard.com/investing ... s/flagship

"You'll also have access to financial advice from a Certified Financial Planner™ professional through Vanguard Personal Advisor Services® for a fee. Our advisors can help you with specific investment questions or provide ongoing advisory and portfolio management services."

So it looks like a fee remains for PAS at Flagship level.

$ 1,000,000.00 used to be something, today not so much.
mmmm... That is a recent change. The wording last month was a bit more vague and seemed to allow (free) consultation on a specific question from an available individual in the CFP pool. This recent change is also shown on benefits at a glance page - it now states 'fee based' instead of 'included' for the 'Access to a financial advisor' benefit. I guess one needs $5M now to be a true high-net-worth investor in VG eyes.
Rocket science is not “rocket science” to a rocket scientist, just as personal finance is not “rocket science” to a Boglehead.

Grt2bOutdoors
Posts: 21733
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: Financial Adviser

Post by Grt2bOutdoors » Mon Jan 13, 2020 11:16 pm

Eagle33 wrote:
Mon Jan 13, 2020 11:08 pm
123 wrote:
Mon Jan 13, 2020 4:51 pm
The Vanguard website for Flagship benefits ($1M to $5M) includes the following: https://investor.vanguard.com/investing ... s/flagship

"You'll also have access to financial advice from a Certified Financial Planner™ professional through Vanguard Personal Advisor Services® for a fee. Our advisors can help you with specific investment questions or provide ongoing advisory and portfolio management services."

So it looks like a fee remains for PAS at Flagship level.

$ 1,000,000.00 used to be something, today not so much.
mmmm... That is a recent change. The wording last month was a bit more vague and seemed to allow (free) consultation on a specific question from an available individual in the CFP pool. This recent change is also shown on benefits at a glance page - it now states 'fee based' instead of 'included' for the 'Access to a financial advisor' benefit. I guess one needs $5M now to be a true high-net-worth investor in VG eyes.
That's low, at other firms the price of entry is $10 million +.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

retired@50
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Joined: Tue Oct 01, 2019 2:36 pm

Re: Financial Adviser

Post by retired@50 » Tue Jan 14, 2020 12:25 am

I think if you're seriously considering the Vanguard Personal Adviser Services they will discuss a plan with you free of charge. But, as stated earlier, managing 900K is quite similar to managing $1,000,000. It's certainly a milestone that many people are (and should be) proud of. It takes a fair amount of work to set aside enough money to watch it grow into $1MM. :D

Regards,
Boggle - a game from Parker Brothers. Bogle - investor, founder of Vanguard.

lostdog
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Joined: Thu Feb 04, 2016 2:15 pm

Re: Financial Adviser

Post by lostdog » Tue Jan 14, 2020 9:09 am

You can get the free advice and portfolio setup from PAS and then implement it yourself.
95% VTWAX | 5% BNDW

Fractalleaf
Posts: 9
Joined: Wed Jan 01, 2020 6:30 pm

Re: Financial Adviser

Post by Fractalleaf » Tue Jan 14, 2020 12:47 pm

[I would expect most good advisor's to have a finance degree and several years of experience. A CFP is a licensed advisor plus has 10 years of experience and has passed an additional examination.
Every few years I make an effort to find a professional financial advisor. I’m near retirement and have a comfortable net worth, so I am interested in advice on Social Security, taxes and retirement fund withdrawals as well as asset preservation. I’d like to find an advisor or firm that will be around to provide guidance to my family if something should happen to me.

Most advisors provide a bio that includes their education. I’ve be surprised to learn that many highly compensated “wealth managers” did not major in finance and did not attend highly ranked colleges. They often majored in a liberal arts topic and gained their financial credentials through continuing education and experience. Many probably have the people skills to enable them to put potential clients at ease.

I guess this site is proof that virtually anyone can become a knowledgeable and competent investor with effort. However I find myself gravitating towards advisors with an educational background in finance and economics.

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