Row 8498

Row ID: 8498 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 8498 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

Awkward position; my mom’s long-time financial advisor (30 years plus) upped her fee rate to 1.25% (from 1.0). She has over $1M with them and this seems ridiculous.

Further, I finally got a peek into her account when she was frustrated that she had no gains at the end of April for the year. I told her I was up 10% for Q1 then lost half of it in April, it has rebounded in May.

But I am very put off by some of their choices. Is it normal for an FA to buy individual stocks? All I’ve seen before is ETFs and mutual funds.

They seem to be value-trap investing. Verizon, Intel, Pfizer, and my least favorite, Lucid. They are continuing to monthly buy shares of all of these companies and have large losing positions on all of them. None of them are huge; $5-$20k each. But they have some huge loss percentages.

I’m thinking of contacting them to ask them to stop building positions in these stocks and stick to funds. And try to get her rate back to 1.0%.

I also think I will see if she will take 10% of the account and roll it into an account I manage. Thinking the same equity/bond mix but just in VTI and a general bonnd fund and give her a comparison point to her manager.

Any other suggestions? I’m mostly worried about the value trap investing but I’d like to eventually take over her management for her for free. My 401k has more than doubled the returns of her account over the last 5 years (partly because I’m more aggressively in stocks), and even in 2022 her losses were only a few % less than mine. She’s been working with them for decades and I don’t want her to feel bad about her decisions. But, she already is disappointed with their performance.

FieldValue
text Awkward position; my mom’s long-time financial advisor (30 years plus) upped her fee rate to 1.25% (from 1.0). She has over $1M with them and this seems ridiculous. Further, I finally got a peek into her account when she was frustrated that she had no gains at the end of April for the year. I told her I was up 10% for Q1 then lost half of it in April, it has rebounded in May. But I am very put off by some of their choices. Is it normal for an FA to buy individual stocks? All I’ve seen before i…
label r/investing
dataType post
communityName r/investing
datetime 2024-05-19
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url_encoded Z0FBQUFBQm5Lak9IY1F5YTJwc2tfRjFQUDF6LUVIdjBYV21LUWNlcEtlcDRSWmVaQng4OEt5bm53RFRKeElZWkdwMkIxQjRQMTdfQ3NNbzdaX3NkZGxzdmdVRVNiYk1XcndxQ1MyTTN5NFNMeXhqTEFQZnRNb0ktb29rVTBDVFhYV3JiQWpMaE5SMHByYngzQWZpZlZyRHJ3ZmtENFN6T1l1NndoRDFuMzZndzNvbnczV0UxblM3ZEJ1UlhpNGJ6TlJwVi1JUUNxSUd1MlBlZVNBZUREZVU2X1BCWFVGRXd0QT09

Raw Record

{
  "text": "Awkward position; my mom’s long-time financial advisor (30 years plus) upped her fee rate to 1.25% (from 1.0). She has over $1M with them and this seems ridiculous.\n\nFurther, I finally got a peek into her account when she was frustrated that she had no gains at the end of April for the year. I told her I was up 10% for Q1 then lost half of it in April, it has rebounded in May.\n\nBut I am very put off by some of their choices. Is it normal for an FA to buy individual stocks? All I’ve seen before is ETFs and mutual funds.\n\nThey seem to be value-trap investing. Verizon, Intel, Pfizer, and my least favorite, Lucid. They are continuing to monthly buy shares of all of these companies and have large losing positions on all of them. None of them are huge; $5-$20k each. But they have some huge loss percentages. \n\nI’m thinking of contacting them to ask them to stop building positions in these stocks and stick to funds. And try to get her rate back to 1.0%.\n\nI also think I will see if she will take 10% of the account and roll it into an account I manage. Thinking the same equity/bond mix but just in VTI and a general bonnd fund and give her a comparison point to her manager.\n\nAny other suggestions? I’m mostly worried about the value trap investing but I’d like to eventually take over her management for her for free. My 401k has more than doubled the returns of her account over the last 5 years (partly because I’m more aggressively in stocks), and even in 2022 her losses were only a few % less than mine. She’s been working with them for decades and I don’t want her to feel bad about her decisions. But, she already is disappointed with their performance.",
  "label": "r/investing",
  "dataType": "post",
  "communityName": "r/investing",
  "datetime": "2024-05-19",
  "username_encoded": "Z0FBQUFBQm5Lakw0SU1FT1RtWkozRXdia3pLNEZMWVE1dVdSNlZGby1JYUNSanRSVkxDTHdubTNvRFBMakoySWhtYy1lYWo4UnptLTNZN2t4NzFHbk9KVVh0bkhIaXdRMHc9PQ==",
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}
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