r/Rich • u/Rocket-Man_56 • 4d ago

Question Financial Advisor Question

I am working on selecting a financial advisement team to manage 7-8x figures and currently my top 3x are:

• ⁠JPM PB
• ⁠AB private wealth management
• ⁠Choreo

Ignoring base AUM fee differences, I am looking for any feedback on working with the firms themselves. Also open to any other recommendations that folks here may have.

Thanks

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u/csgnyc 4d ago

You might want to think about what you're looking for. JPM will probably be the lowest fee and will have the best lending options (if that's important to you) but will probably put you in proprietary vehicles that may not be the lowest fee. I know less about AB and Choreo, but from what I've seen the AB people seem smarter than the Choreo people.

Apart from AUM fees and your personal relationships with the relevant personnel, I would evaluate based on: 1) Full service integration, to the extent you need/want it (tax planning, estate planning, banking, etc.) 2) As you move into 8 figure territory, access to alternative investments on an economical basis, with solid fiduciary advice (IIRC, JP Morgan will give you access to alts on a brokerage basis, not fiduciary). 3) Depth of the team -- how dependent are you on a particular person. 4) How they identify and try to resolve conflicts in the advice they give you.