Are "Boutique" Money Managers for Affluent People Worth it?
I had known a financial planner through business networking a few years years ago. He joined Pavilion Investment, it looks like Mercer bought them since then. Back then, he said that you needed a half million in liquid assets to be able to use their company. It seemed like a pipe dream at the time and I didn't think more of it. Flash forward a few years and things have changed, we just recently passed that number, have over $400k household income this year and over 30 years until we hit 65, making me think that we might need to consider some professional advice or a money manager.
I'm pretty well versed on the basics of index investing, though I seem to invest at the high points so far since a lot of our earnings have come more recently...
Just wondering what you think about these groups - can and do they provide novel investment opportunities or good advice for allocation, tax advantages, etc? What kind of investments could be available to wealthier people that aren't available to others?
Sorry for the "flex" but it's pertinent to the question. PS I hate the word affluent, haha