Originally Posted by
APC225
Completely agree about index funds, and target date retirement funds are especially hands off. The closer in the fund's date, the more conservative it's managed. If you want more risk you can just pick a date decades away. I used a couple of these for most of my 401k/B Fund. I recently went to mostly cash, but wanted to see what a broker might do with some (10%) of my savings. A bit of an experiment.
A good advisor will pay for his services with what you get in return. It's not just about annual returns- there are tax consequences, estate planning issues, multiple retirment sources to mesh, and structure for best tax treatment as well as medical costs/insurance considerations and finally cash flow. These become most important as you near retirement and you would want to have an established relationship for a few years before you hang up the hat.
I said "good advisor". Unfortunately they are few and far between, hidden amongst a lot of so- so mediocre guys that just use some computer program and follow a few axioms to handle your account. There are also some crooks and incompetents.
Remember the advisor ( Schrenker) that faked his own death when he bailed out of his Malibu over southern Alabama? His first victims were Delta pilots.