Regular poster but given the topic, decided to "sock up"
Wife and I had two windfalls in late 2017 that pushed us into millionaire status and are now sitting on roughly $2m cash. I'm in my mid 30's, and my wife is in her late 30's. We have 2 kids and no debt.
I would say I'm fairly savvy when it comes to markets/investments, but don't want the pressure of managing our own money. We've spoken to a number of prospective financial advisors, but we were both left uninspired. The people we spoke to either a.) try to sell us front end loaded funds or b.) tell us to buy index ETFs and charge an absurd management fee.
It does look like we hit the minimum wealth requirements for some private banks. From my limited research, it looks like one of the perks of private banks are the advisory services you receive. Would advisors through a private bank be a good direction? or should I continue trying to find someone independent?
Wife and I had two windfalls in late 2017 that pushed us into millionaire status and are now sitting on roughly $2m cash. I'm in my mid 30's, and my wife is in her late 30's. We have 2 kids and no debt.
I would say I'm fairly savvy when it comes to markets/investments, but don't want the pressure of managing our own money. We've spoken to a number of prospective financial advisors, but we were both left uninspired. The people we spoke to either a.) try to sell us front end loaded funds or b.) tell us to buy index ETFs and charge an absurd management fee.
It does look like we hit the minimum wealth requirements for some private banks. From my limited research, it looks like one of the perks of private banks are the advisory services you receive. Would advisors through a private bank be a good direction? or should I continue trying to find someone independent?