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Does the bowl have thoughts on a part-time MBA?
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Mentor
Sure. 10bps and a 50k financial planning fee.
Sometimes the best client is the one you don’t take
I would have done the save. He would have made your life hell.
Coach
I would have done the same, 10 bps? Hahaha.
Play Columbo, tell him it sounds like he’s got it all covered and fees are the most important thing that keep him up at night. I would do it for .30 basis points if it was straight muni bonds, cash mgt is at like .10 basis points but a diversified portfolio at 10 million shouldn’t be less than .50 bps or your underselling you’re services. Penny wise pound foolish.
Way too much risk for the reward. Smart move.
Absurd request. Good luck to him.
Hahaha. What are you going to do when he comes back and asks what's the least you'll do it for?
You did the right thing!
Not at all, then he’ll meet someone to do it for 8 and he will leave...
The “writing is in the wall!” You don’t want clients like these
I probably would have done it. It’s still 10k, and really with a portfolio that large, it doesn’t get traded much anyhow
Until we take it for “nothing “ as we can make money on cash balances now!
Good for you!