I echo going with a fee only FA. A little knowledge can go a long way, but if you want to be your own FA, it can also cost you dearly. I once told my FA that I try to resist becoming “informed” in investment matters to avoid becoming “opinionated”, and therefore forging views that may conflict with his. Since I am paying him to advise me and not the other way round, that makes sense to me. I got the feeling from his reply that his life would suffer less angst, if other clients were similarly disposed. I do however look at the bottom line, and form an opinion as to his performance, and that seems to keep priorities on an even keel. The trouble with brokers and commissions is that charges can be opaque and can bite into your portfolio’s performances.
