If you have a high net worth and want a custom, actively managed portfolio, Fisher Investments is an excellent choice. The fees are similar to working with many financial advisors, but you also get the investing experience of Fisher Investments’ team as a client.
That said, some alternatives might be better options if you want lower fees or to choose your own advisor.
Facet Wealth connects you with a dedicated Certified Financial Planner who works directly with you to help with services like retirement planning, asset management, tax planning, and even services like estate planning. The CFPs you work with are fiduciaries and can work with you to create a custom investment portfolio using your current brokerage account.
You have an introductory call with a Facet Wealth CFP that’s similar to Fisher Investments, so you can feel out the service. If you decide to move forward, Facet Wealth charges $1,800 to $6,000 annually depending on the services you use, not assets under management. If you have a very large portfolio, this could actually save money versus using an investment advisor that charges fees based on assets under management.
The Paladin Registry is a free registry of registered financial advisors who are also fiduciaries. It’s essentially a match-maker for financial advisors and clients who need assistance with wealth management. Advisors on the registry must have at least five years of experience and be either a Registered Investment Advisor or an Investment Advisor Representative.
The best part about Paladin Registry is that you don’t pay any fees; advisors are the ones who pay fees to be part of the network. However, if you end up working with an advisor, you pay fees to that advisor based on their rates.
If you want lower fees than Fisher Investments and access to human financial advisors, Betterment could be for you. This leading robo-advisor only charges 0.25% annually on portfolios under $100,000 and 0.40% for portfolios above this amount. But clients with $100,000 or more get free access to Betterment’s team of financial advisors.
Like other robo-advisors, Betterment keeps fees low by investing in a variety of low-cost ETFs and bonds. It builds portfolios to match your goals and risk tolerance, and you have plenty of portfolios to choose from, including ones that focus on socially responsible investing and ESG investing.