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.