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November 01, 2005


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The thing about these people seeking professional management for their fortune is because when the asset reaches certain size, it becomes a full time job to manage it. It's not about financial planning, it's about portfolio management, the day-to-day grind of it. I am pretty sure if I have a couple of million in my account, I would either quit my job and manage that money actively, or send all the money to the direction of my money manager.

I believe there is a point of advantaged return where the 1% fee to a financial planner is peace of mind and frees up the investors time in a more profitable way. I'm not sure where that inflection point lies, but I would guess it is in the several million dollar amount. This might make a good topic for discussion on FMF.

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