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Fortitude Private Wealth

Investment Advice and Controlling Your Cost

It is important to minimize unknown variables with investing. One variable that can be minimized is the cost you pay for investment advice.

When reviewing someone’s investment statement, it is not uncommon that I discover that this investor may not know what fees they are paying. In fact, I would say this is quite common.

The owner of the investment account may not know what their fees are for receiving investment management or what the cost are on their actual investment holdings.

How to Find and Calculate Your Fees for Investment Management and Investment Holdings

Step 1: Calculate that your quarterly fee matches what you were told at the time your account was opened.

This fee should be listed on your monthly or quarterly statement.

Step 2: Review what the fee is of your actual investment holding or security.

This fee can be found by reviewing the prospectus for the security. Another good source for information is at: http://www.morningstar.com

Step 3: Get a second opinion from a CERTFIFIED FINANCIAL PLANNER™.

You may want help in calculating the fees and determining if they are fair and appropriate. Getting a second opinion from an independent, CERTIFIED FINANCIAL PLANNER™ practitioner who acts with a fiduciary standard of care may help. To search for a CFP® visit: http://www.letsmakeaplan.org

 

About Josh Zorger

Joshua D. Zorger, CFP® is the President and Founder of Fortitude Private Wealth, a fee-only registered investment advisor.

Categories: Blog

Certified Financial Planner Fortitude Private Wealth
600 E Carmel Drive, Ste #159
Carmel, IN 46032
Phone: 317-819-8550