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A comment on Ask HN: I have $450K cash, what should I do to maximize my return?. Parent comment

Re:Ask HN: I have $450K cash, what should I do to maximize m... by nordsieck on Saturday August 01, 2020 @04:07PM (#24023482)
> I don't think most people need a financial advisor, but if I had a $450k pile of cash and I wanted to understand the tax consequences of various investments I would definitely pay for a consultation.

I think you have to be a little careful with this.

Shockingly, most financial professionals do not have a fiduciary duty to their clients. If you pay for advice, I'd definitely recommend getting one that does have a fiduciary duty to their clients.

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Re:Ask HN: I have $450K cash, what should I do to maximize m... by arcticbull on Saturday August 01, 2020 @04:14PM (#24023534)
Indeed, the Trump administration rolled-back an Obama era rule that financial advisors must be fiduciaries. I'm not sure most people realized that happened.
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Re:Ask HN: I have $450K cash, what should I do to maximize m... by arcticbull on Saturday August 01, 2020 @08:59PM (#24025387)
Sorry if that came off as political, I mentioned the leadership at the time as epoch markers as I didn't recall off-hand the specific dates. I suspect people didn't realize that the fiduciary rule wasn't a thing prior to 2015, let alone that it was over by 2018, and it is my understanding the Trump administration was looking at resurrecting the rule.

[1] https://www.nytimes.com/2018/06/22/your-money/fiduciary-rule...

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