My wife and I are looking for a financial advisor. I am 52 and she is 48. We have a million plus in assets, with most of that in 401k...about 500,000 in brokerage account. We have found a company/person we like. Our choice seems to be financial advice (goal setting/asset allocation...etc.) for a monthly fee, or asset management for 1% of our portfolio (this would also include the financial advice). My research makes it appear that all of this is standard so far. My wife feels we should turn everything over to them (asset mgt.). I am not so sure, because they would only actively manage our brokerage account...where we would be paying a 1% fee on all of our assets. Their pitch is that their investment philosophy would likely help us do 1% better on our investments. The ultimate question is whether or not asset management would be money well-spent. What am I missing?

My wife and I are looking for a financial advisor. I am 52 and she is 48. We have a million plus in assets, with most of that in 401k... about 500,000 in a brokerage account.

We have found a company/person we like. Our choices seem to be financial advice (goal setting/asset allocation...etc.) for a monthly fee, or asset management for 1% of our portfolio (this would also include the financial advice).

My research makes it appear that all of this is standard so far. My wife feels we should turn everything over to the asset management service. I am not so sure, because they would only actively manage our brokerage account... where we would be paying a 1% fee on all of our assets. Their pitch is that their investment philosophy would likely help us do 1% better on our investments.

The ultimate question is whether or not asset management would be money well-spent. What am I missing?