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When is it OK to "Skip the Dip"? - NEVER at an Ice Cream Shop!

Growing up in New England, we had several “regional” ice cream shops – many of which have faded into oblivion - unfortunately much like the NY Football Giants 2017 & 2018 seasons!  One of our local Connecticut favorites was Carvel’s Soft Serve whose owner Tom Carvel was the company’s iconic TV pitchman urging folks to buy among other treats – a whale shaped ice cream cake for “your Whale of a Dad”! 

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"Fire your Advisor and rent him a Beach House each fall - you'd be financially better off"!

I recently had a conversation with a couple nearing retirement who were considering hiring us as their primary Wealth Advisory firm. After our presentation and due diligence discussions including a deep analysis of the significantly high annual fees they were paying their current advisor, the couple expressed how difficult it would be to terminate that relationship. They went on to explain how they had been working together for over 12 years and “really liked him personally” but felt the fees were in fact “way to high” and the service and personal interaction “way to limited”. After I reran the calculation of fees they were paying annually, revealed to them that they were paying a 1.1% annual advisor fee plus internal mutual fund fees of .70% pushing their annual fees up over $22,500.

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