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12/23 Thread (General):
Any RTO mail? EY
Additional Posts in Personal Investment Chatter
what’s the most you’ve spent on brunch 🤣
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Emotional ball tickling to make you feel special and the odd gift.
Other than that, wealth managers are good at navigating the legal, regulatory, and tax implications of utilising large sums of money effectively.
If you don't do anything with your money apart from vanilla consumer saving/investing, it's not worth paying for one.
Better to hire an accountant, attorney, and CFP if you feel the need. Complicated schemes cooked up to “improve performance” are riddled with fees for the advisor.
I work with a couple of CFPs and they have been well worth it for our family. Let me know if you want their contact info. Can’t hurt to have the conversation.
Pending your “level”- they may have investment opps not available to the general public like IPO allotments, Secondary markets to PE funds, exchange funds (not to be confused with similar sounding but vastly different ETFs). Sometimes these products are trash and not worth it and collect high fees - other times they are good. The main benefit in my opinion is having a one stop shop for all your financial needs and a single person quarterbacking it. Also have seen some interesting liquidity options if you have a liquidity constraint (want a $50M art piece but you have a significant portion for your wealth tied up in PE funds or some stock position you can’t exit- they’ll cut a loan using your yacht as collateral)