For those who are above $1M and have a financial advisor / wealth management team, what does your allocation look like? And what % are you paying them?
I'm 39 with a family, and I have mine managing a portfolio of $1.8M+. I also have a couple of brokerage accounts that I manage on my own.
My asset allocation they put me in:
Domestic stock - 57.2%
Foreign stock - 28.8%
Bonds - 11.2%
Short term - 2.1%
Other - 0.7%
Their fee is 0.903% - I'm still trying to negotiate that down.
I'm not a fan of how fragmented my portfolio is, with many positions being under 0.05% and have overlap with the ETFs, but I like how they focus on tax avoidance, estate planning, retirement planning etc. I'm wondering if going to a fixed-fee fiduciary for both planning and investment management would be best.