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Strategies & Market Trends : Dividend investing for retirement
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To: TigerPaw who wrote (26465)2/6/2017 12:57:09 PM
From: deeno1 Recommendation

Recommended By
Thehammer

  Read Replies (1) of 34328
 
OT

Times are a changing'

fiduciary "competition for fees"?

Well I think you have a number of conflicting problems when wanting someone to handle your accounts. First you are only considering what you want. In order to be a “fair” deal you must consider what the advisor wants. If you’re looking for someone that is active, I understand the fiduciary standard is a nightmare. Besides the rules and regs, the documentation necessary to make anything other than a generic recommendation leads them limit the amount of time and advice they can give to people wanting to be “active”. So what you have are “good advisors” who want to make a living, paring back the number of people they can physically handle. Those clients left then need to pay the advisor a “living wage”. That living wage defines not only their lifestyle but growth of lifestyle. This will come from upgrading clients not adding clients. As “active” advisors, with any decent reputation, a shortage of clients are not an issue when fiduciary standards become de rigueur.



Now Those that learn to scale then pick up what the “good” ones give up. The ones that scale can only do so by providing boxes of models to pigeon hole clients into so as to streamline reporting and documentation. As a client to them you are one of the multitude you would need to be compliant and pay enough to be worthwhile. If they “beat” the market for any length of time you still run the risk of falling by the wayside if you’re not paying full bore. That leaves you newbies, losers and non-professionals. Not a very enticing group to be active managers.



So in order to hire someone capable of doing something active what do you bring to the table? Although it’s true you say that you need just a “small amount of monitoring”, you still take up one spot on somebodies roster. So for you fiduciary standard is probably the beginning of the end to your being able to hire someone who is “active investing” at what you might call a “fair” price.



Personally I like paying people for ideas they bring to me. No ideas, no pay. Lots of ideas, mucho dinero. Learn who I am, what I’m interested in, show me why the idea works, I’ll decide. When I’m done making decisions any robo ETF model will likely be fine. In fact at that point I won’t care anyway. My heirs might……
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