“How many of them have been paying 1% to their friendly advisor for 30 years, never realizing how much it’s actually costing them?
If they have an advisor, call them (your parents) today and ask how much they’re paying”
This is a tweet from Ramit Sethi. He wrote the book “I Will Teach You To Be Rich“
The issue relates not to value, as it’s subjective, but understanding fees that are payable. As stupid as it sounds, many investors do not fully understand the charges they pay. Only when you understand can you then determine value.
Ramit Sethi’s point is to open up dialogue. Whilst paying 1% on relatively small sums can be acceptable, there is a point where 1% becomes totally unacceptable. How do you judge what is fair or not? You need to understand more and ask more questions about what wealth managers are doing. It is the job of wealth managers to charge as much as possible.
Perhaps an Investment Audit may help you.