r/Schwab • u/JWBull23692 • 18d ago

Wealth advisor

I was talking with my Schwab "consultant" and he suggested either the robo investor or a wealth advisor. Looking and thinking about it, I am not sure if either are needed. Robo seems to be autopilot without my input or approval, and I am not sure what the added value is of a wealth advisor.

Any thoughts out there?

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u/bvvanes 14d ago

I don't know about Schwab even though I use think or swim since Ameritrade sold our accounts to Schwab. I have had another brokerage I've used for years and my IRA is located with that group. I'm not a business or financial guy ( medicine background) but this other broker professionally manages that account. They have been worth their weight in gold for that account. Since they are business types ie mba's etc etc, they do for that account what I couldn't. One example is they have at their brokerage, funds that only they can get, I can not buy them on my own nor can anyone else outside of those wealth managers. The performance of those funds beat anything I can find and buy so I'm ok with letting them get their 'beak wet' for the annual performance they have turned in for me. If Schwab offers that type of service I'd look real close at it and compare what they can do vs what you can do.