A 44-year-old Reddit user is contemplating whether to hire a financial advisor after two unsatisfactory experiences managing his $10 million portfolio. Despite spending $30,000 monthly comfortably, his past advisors provided limited engagement, offering basic plans without meaningful updates. Having fired the first advisor for slow responses and the second for unfulfilled promises, he questions the value of a new advisor who charges a $50,000 annual fee based on assets managed. His story reflects broader concerns about finding the right financial guidance after disappointments.
"After he sold his business, he worked with two different financial advisors, but he wasn't happy with either of them."
"Both of the firms he hired to help him completed a basic financial plan and worked with him to invest his money in a balanced portfolio."
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