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For better or worse, my 85 yo mom asked me to look over a weigh in on her IRA which is allocated in several funds and being managed by an advisor. The advisor communicated with me that she encouraged a higher % of the assets being directed into her Own company's Value & Income fund which has lagged the index over several time periods by 3-4% and of course has a higher mgt. fee benefitting the firm and wealth manager (Munger incentive bias). This did not pass our sniff test.

After speaking frankly with mom & my older brother, we elected half of her assets to be split equally between BRKB, RSP & QQQE. The wealth manager will allocate the rest towards her firm's value & income fund (keeping it status quo) and some non-China low fee EM and international funds. Glad she was open to advice and realized that it was lagging performance + higher fees. It is a balancing act to be aware & involved enough but not over step one's boundary. The manager was probably not thrilled but my obligation is more to family rather than the advisor. I cannot be the only one in this situation.

The wealth manager will allocate the rest towards her firm's value & income fund (keeping it status quo) and some non-China low fee EM and international funds. Glad she was open to advice and realized that it was lagging performance + higher fees. - WEBspired

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If the wealth manager realizes performance is lagging and fees are higher but still keeps half your moms assets in those same under performing conditions, then it is time to find a new advisor. Better still, eliminate the advisors and associated fees all together and split your moms assets between three or four broad index funds (or ETF's) with ultra low fees below 0.1% such as those from Vanguard where I have mine. Is the asset manager still managing the assets you directed go to RSP, etc. If so, is she still taking her 1 or 1.5% AUM fee on that half of the assets?

My father in law's advisor had him in about 20 different actively managed funds, all stocks, high fees plus a 0.75% advisor fee on top.

We put the whole lot in a single Vanguard Lifestrategy 60/40 fund.

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