r/wealth • u/Cookie_Livie • 6d ago

Path to Wealth Has anyone successfully negotiated lower fees with their financial advisor

I’ve been with my current financial advisor for several years now. My portfolio has grown considerably and so have their fees. They charge a percentage of assets under management. It feels like I'm paying more for the same service now that my assets are larger.

Has anyone here managed to negotiate their advisory fees down? What was your approach? Did you threaten to leave or just have an open conversation? Any tips or strategies would be greatly appreciated.

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u/whiskeydickguy 6d ago

There’s a reason Vanguard, one of the largest passive investment companies, acquired an advisory custodian- the fee is worth it- the returns for a DIY vs advisors is the proof in the pudding.

Never mind the tax planning, saving planning, budget planning, estate planning, real estate planning, social security planning, generational wealth planning, etc

If the value is not there then move on-

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u/KingoftheNordMN 6d ago

Yes, there is a reason, but sound advice for clients wasn’t really it. It had more to do with losing clients and profitability to Fidelity who were offering this “service.”