>>23284375Typically, wealth advisors take a percentage of the assets you have with them. 1% of total assets is a fairly common rate but it can vary. Depending on how much money you have, that fee is negotiable. Regardless, if you're going to pay someone 1% of your assets every year, you have to make sure that he earns that money with good investment advice. I have never met a financial advisor who was better at managing money than me and I'm hardly any good.
Also, in addition to the management fees advisors usually take, they may also charge unusually high commissions for buying and selling equities. Most brokerages have no commissions for buying and seeling equities. While I personally wouldn't pay any commission for trades on the major exchanges, I might tolerate a commission of $10 or maybe as high as $20 for foreign exchanges, which you are not using. I would also be tolerant of larger commissions if I were buying millions or billions of dollars of one stock although once again I'd be holding the commission taker's feet to the fire to ensure he earned the money.
Finally, I've already mentioned the possible commissions (hidden from you) that an advisor might earn from putting their clients in certain funds. In that circumstance, they are working for the fund first and you second, if at all.
You already seem to have heard of Sprott (PHYS, PSLV, CEF). They have an ETF (SGDM) that holds a bunch of gold mining stocks. The management fees are 0.50%, half of that of the Invesco fund. I would consider this before the Invesco fund.
https://sprottetfs.com/sgdm-sprott-gold-miners-etfIf your financial advisor pushes Invesco over Sprott, as why and take a day or two to think over his answer. If he doesn't give you a good answer, fire him.
