Madison MoneySports - Personal Finance Thread

[V1GiLaNtE]

I bet if you got in a room full of wealthy people, the majority of them would tell you that they use some kind of money management services.  It's almost a given when you build serious wealth.  Unless you are an expert in finance, wealth management and actually possess licenses to obtain the best kinds of investments, the odds are that you're not going to perform as well as you could.  There have have probably been studies on that, I'm just too lazy to look them up.

Yes, if you are in the 10's to 100's of millions of dollars, then I agree.

For the rest of us?  I'd like to see some data that hiring this out is better in the long run.  Everything I've read says the opposite.

Agreed. For most of us "normal" people the term investing is mainly picking your funds, putting your money in there, and checking your investment allocation at a pre-defined interval (yearly, quarterly, etc.). If you're doing anything more than that you're basically speculating as you continue to attempt to time the market and make jumps. I can see having a FA to act as a confidant to help you choose funds, but any active management I think is going to crush you in terms of fees vs. gains. UNLESS, you're making buku money.