Should I Fire My 1% Financial Advisor To Save on Fees? Boston 25 News [Video]

Deciding to save and invest are great habits. But once you check that box, your job isn’t done.

You still have to choose whether to manage your own investment portfolio, invest via a robo-advisor or hybrid advisor, or hire a full-fledged financial advisor.

The more services you get, the more you pay in fees. The fees you pay play a huge role in determining your long-term wealth. It can make a difference of tens or even hundreds of thousands of dollars across your lifetime.

It’s a careful balance between avoiding unnecessary fees and recognizing your strengths and weaknesses.

Should I Fire My Financial Advisor?

At Team Clark, we spend a lot of time helping you understand what a fee-only fiduciary is. It’s crucial that your financial advisor isn’t getting paid to recommend specific investments. You need a person that’s legally required to look out for your best interests.

Financial advisors have become adept at representing themselves as fee-only fiduciaries. …