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Fixed Fee Advisors in Dallas?

1,578 Views | 9 Replies | Last: 3 yr ago by schwack schwack
TXAGFAN
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AG
Afternoon - Without going into all the details publicly, my mother has amassed in the low-mid 7 figures of investments since her divorce. The majority of these assets are in managed investment accounts with Fidelity where she paid $18k in fees last year. Rest of assets are a couple homes and farmland - no plans to sell.

Long story short, I consider myself very competent with my money, but I was never up for the responsibility of investing her money.

As her assets have grown Id like to find someone who can provide more comprehensive financial advice periodically (once a quarter and as needed?), especially since like most moms she believes "other" people over her two sons with four accounting/finance degrees between us haha. I'm involved with her money management and review quarterly, it's just when it comes from someone else it holds more weight for her.

How do I go about finding a good financial advisor in Dallas and what should I expect from them in terms of fee and services? I'd be happy to have someone who can invest even a portion of her assets and have more knowledge of her situation compared to these Fidelity sales guys who she thinks knows everything about her based on her balance and arbitrary risk rating she selected 10 years ago. She is also approaching her mid 60's when other information may be helpful like SS decisions, mandatory withdrawals, light estate planning advice, etc.

Her largest account at Fidelity is an IRA that she draws an SEPP from for her day-to-day living income.

Appreciate any insight. I was a little light on details, but if any other information is helpful let me know.
Bob Knights Paper Hands
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Look up Diana Bacon with Apella Capital. She might be able to help. If not she probably knows others that can. She is good people, worked for Fidelity before going out on her own, and her husband is an Aggie.
azul_rain
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Throw 75% in an S&P 500 index fund, the rest in various alternative investments. You're welcome
you may all go to hell and i will go to Texas
Cyp0111
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Not Dallas but call vanguard PAS if fees are a concern. I've been impressed with what they have done.
YouBet
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AG
Fidelity has multiple options to do this relatively cheaply if you want to hit the easy button. They have anywhere from a robo option to fully actively managed. Would start there since all of her money is there already.
TXAGFAN
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That's more or less how I invest at a relatively young age with no earnings potential issues, not the same situation for my mid 60's mother.
TechnoAg
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AG
Bumping this thread. Also looking for a Dallas based fixed fee CFA.
Schall 02
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DFW area: grunden.com
TMfrisco
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Are ya'll looking for recommendations, or just to find one?
I'm pretty sure there is an organization most of the flat-fee advisors belong to - sorry, I don't remember what it is.
cjsag94
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So, a divorced lady with several million dollars, multiple fixed assets, farm land, and 2 knows it all meddling sons with fancy degrees (that she doesn't listen to but keeps them involved)... Complaining about what sounds like about 35 bps in fees. Sounds like a fun client!
schwack schwack
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We used & were happy with Emerson Bell in Dallas. When we have extra money now, we just buy another rental property, but we've held the funds he recommended back when we were just starting to plan for retirement & they have done well. Likeable guy, too.
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