A $2M inherited portfolio paying $29,000 a year: is 1.45% too much?
As seen on the 24/7 Wall St. homepage on October 16, 2026.
Yes. You are being taken advantage of, if you are capable of moving your money to Vanguard you can manage it your self or and advisor there will charge you .03 or $6,000 per year. Digital advisor would be 3k.
A $2 million inherited portfolio is paying about $29,000 a year for little more than investment management and phone calls, and 158 commenters agree that is roughly double the going rate. If your advisor bills over 1%, ask what tax and estate work you are actually getting for it.
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A family consolidated roughly $2 million into an advisory account charging 1.45% a year, about $29,000, for investment management and phone availability alone, with no tax planning, estate coordination, or withdrawal strategy.
Commenters put a fair all-in rate for full-service wealth management at 1% or below, and the top reply noted the same money at Vanguard would run about $6,000 a year.
The family also had to dig through the custodian's own website for account, fee, performance, and cost-basis information they had already asked the advisor to provide. Readers called that access problem a red flag on its own.
A fee-only CFP in the thread tied real advisor value to tax planning, citing inherited accounts that must be distributed over ten years. The consensus: roughly double the going rate for about half the expected service.