Financial advisor: flat fee vs. percentage (i.e. 1%)
We have been working with a financial advisor for a few years, primarily for retirement investments. We really like our financial advisor, but sometimes I flinch when, at the end of one of our bi-annual meetings, he shows us how much we paid him for the past year of investing. With that in mind, I would greatly appreciate some advice regarding whether it is worth paying a financial advisor 1% of the portfolio he/she managers or whether it is better to go with an advisor that charges a flat fee. My husband is adamant that you get what you pay for and does not want to more away from the percentage approve.
Thanks in advance for any advice.