Kirby just inherited $250,000. He would like to hire a financial advisor to provide financial advice and to manage the inheritance. Kirby has interviewed two potential advisors. The first person indicated that he would not charge for his advice but would charge a 4.50% commission on any mutual funds purchased when managing the $250,000. The second person indicated that she would charge $2,500 to write a financial plan and 1% of any asset she manages. Which advisor should Kirby choose if he wants the $250,000 managed and is interested in minimizing his upfront expenses?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Kirby just inherited $250,000. He would like to hire a financial advisor to provide financial advice and to manage the inheritance. Kirby ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Bell expects to produce 1 comma 800 units in January and 2 comma 155 units in February. The company budgets 3 pounds per unit of direct materials at a cost of $ 10 per pound.
Answers (1)
What skills are involved with folding paper along a given line?
Answers (1)
Dominique is making a rice dish for 5 people that requires 4 teaspoons of salt. if she were to add just one more teaspoon of salt to the rice after tasting it, half of the time she would be able to notice a difference.
Answers (1)
Suppose the income tax rate is 0 percent on the first $10,000; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $20,000; and 40 percent on all income above $70,000.
Answers (2)
Provide two reasons why employer provided health insurance is a valuable form of in-kind income for damons family
Answers (1)
New Questions in Business
If you purchased a camera in Britain for 100 pounds what would be the price in U. S. dollars if one pound is worth 1.40? A:71 B:100 C:140 D:1400
Answers (1)
Gontier corporation stock currently sells for $64.18 per share. the market requires a return of 12 percent on the firm's stock. required: if the company maintains a constant 5.
Answers (1)
If someone asked you, "Why should I bother worrying about my credit score?" what would you say?
Answers (1)
Hall and Donnell reported findings of five separate studies involving over 12,000 managers that explored the relationship between managerial achievement and attitudes toward subordinates.
Answers (1)
On September 1, 2021, Daylight Donuts signed a $188,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2022.
Answers (1)