About victor mader Expertise I`m not a broker therefore I can assure that I earn no monies from my unbiased advice. I usually don`t comment on specific stocks but rather how to avoid getting "taken" by any unethical brokers, financial advisors, etc. I have 35 years of personal experience and stay well informed. My goal is to make you a better informed investor. I`ve been told by several stock brokers that I know more than many registered brokers.
Experience I spend an average of 1-2 hours per day reading about investments and have since 1965. I now have accounts at DLJ and Goldman Sachs, two very fine firms.
Expert: victor mader Date: 3/14/2002 Subject: How to find a money manager?
Question Hi, I have a $500K portfolio that I've been managing myself during the past 10 years. I'm interested in finding a money manager that can provide me with fee-based advice/managment.
Frankly, I don't trust the "separate account" services provided by most brokerage houses.
Do you have any advice on what is the best way to look for such a manager?
Thanks for your help.
Answer I don't like to pay money managers a fee because they've rarely proven they can beat a standard index fund. I'd take my 500K, determine what portion I wanted in stocks vs bonds, visit a Fidelity Investments office nearest you (set up appt) and invest in their S&P 500 Fund or Spartan Total Market Index Fund. I prefer the later.
These funds have no load, no commissions and only 1/5 of 1% annual management fee vs whatever for your money manager, who, in most cases will do worse over the long haul.
These are the facts as proven via national averages over the past 20 years.
