Superrich Overpaying For Financial Advice (Black Quoted)

Barron's

“So what should you pay your advisor? Black provided Penta with a benchmark list of what a $10 million family should be paying in total…, both for their advisor and underlying investments…

Of course, selecting an advisor isn’t only about fees but also about the right fit… here’s a simple rule that will help: If your total portfolio is underperforming its benchmark by less than 1%, you should question your advisor, but if it’s regularly over 100 bps, you’ve got a real problem you need to address.”