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A comment on The Rich Are Already Using Robo-Advisers, and That Scares Banks. Parent comment

Re:The Rich Are Already Using Robo-Advisers, and That Scares... by charlesdm on Sunday February 07, 2016 @10:37AM (#11053179)
Most also charge a fee based on assets under management. Regardless of performance. So if you have $50m in invested assets, they will charge you (0.)x% on that in a good year (the ones where you make 20-30% in the stock market) and in a bad year (the ones where you lose 20%).
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Re:The Rich Are Already Using Robo-Advisers, and That Scares... by delazeur on Sunday February 07, 2016 @10:45AM (#11053221)
The key phrase here is "fee-only advisor."
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Re:The Rich Are Already Using Robo-Advisers, and That Scares... by benmanns on Sunday February 07, 2016 @10:48AM (#11053229)
Fee-only advisors still charge fees for assets under management. It's just that they don't get paid commissions for selling you products. What it seems you're looking for is to pay hourly fees only.
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