My parents passed away a few years ago and I have the majority of the money i Inherited in an account made up about 80/20 with vanguard products. It has never beat the S&P 500 and they charge me about 1% of the account value each year for “taxes, fees and expenses.” The account value is in the mid 6 figures.
My advisor is a long time family friend who has my best interest at heart and helped me through a lot to get everything in order since my parents passing was unexpected and I had no knowledge of how to handle larger sums of money.
Since then, about 3 years ago, I have been researching personal finance a lot and feel confident I could make it grow more by myself by even just putting it in an index fund and forgetting about it.
I have a good job and have no intention of touching this money for at least 20 or so years.
I reached out to him last week and he seemed mildly offended that I could even suggest wanting to do it on my own and he and his life insurance company were more than worth the fees, roughly $5,000 a year off the top.
I have a meeting scheduled today, is there any reason to consider staying with him?
Thanks!