r/wealthmanagement

Hi everyone, I’m 55 and recently left my job retired after 31 years working in finance. I’m considering Charles Schwab Wealth Advisory and would really appreciate first-hand experiences from other early retirees.
My portfolio is approximately $1.8 million: $1 million in 401(k)/retirement accounts and $800,000 in taxable accounts.
My plan is to focus on growth for another 4–5 years, then transition toward generating retirement income. My target is around $6,000 per month after fees and taxes. I also plan to live abroad, primarily in Thailand, and Schwab has confirmed that they can continue managing my investments while I’m overseas.
The proposed advisory fee is 0.80% annually — approximately $14,400 per year on $1.8 million, before any underlying fund expenses.
If you’ve used Schwab Wealth Advisory, particularly with a $1 million–$2 million portfolio, was it worth the fee? How has performance compared with appropriate benchmarks after fees? Has the team helped you navigate the move from growth investing to sustainable retirement income? And if you retired in your 50s or now live overseas, how has the experience been?
Would you choose Schwab’s management again, or would you rather hold a simple low-cost ETF portfolio and manage it yourself?
I’m comfortable with the markets, but I want a sustainable income plan, thoughtful tax management, and peace of mind without having to constantly manage my investments. I’d appreciate both positive and negative experiences. Thanks in advance!

Hello, I am looking for a bit of advice on how to into wealth management. I am graduating from college this December with a BA of Sociology.

For the last 6 months I have been working full time at a mutual insurance company as a "Financial Advisor". Frankly I have zero interest in trying to cold call my friends and to sell them insurance. It's a good company but I hate the 100% commissions and the deceptive marketing. Since being here I have really liked the client meetings and actually designing portfolios and it's something I want to do at an actual WM firm.

I currently have my SIE and Im sitting for my 7&66 at the end of the month. I'm located on the west coast but I would really like to move to a few target cities with my girlfriend and find a better WM firm to work for.

I guess I'm just asking for any advice from anyone who is more familiar in the industry on what my next steps should be. I am planning on starting to reach out and apply to firms this month.

First off, sorry for another post from someone who isn’t even in the field yet asking about becoming a CFP lol. I’m 18 and trying to figure out if this career actually fits me and what I should be doing now if it does.
My current plan is to start community college online, transfer after about 2 years to a university for Finance, and eventually become a CFP. Long term, I’d like to work in financial planning/wealth management, become a good advisor, build a book of clients, and eventually own or buy into an RIA in the Greater Boston area.
What attracts me to the career is that I genuinely enjoy personal finance, investing, taxes, retirement planning, and learning how people can make better financial decisions. I also really like working with people, building relationships, and the sales/business-development side of things. The idea of eventually having my own clients and building a practice is probably what interests me most.
Obviously, I know the career probably looks different from the outside, which is one of the main reasons I’m posting. Based on that, does this sound like a career that would be a good fit for me? What are the biggest things about actually being an advisor that I might not realize yet?
I’m also trying to figure out what I should be doing from 18–22 besides just getting the degree.
Right now I do title/public-record research, and I’ve considered reaching out to RIAs or independent advisors to offer part-time help with things like prospecting/appointment setting, client or prospect research, CRM work, admin work, etc. I eventually want to practice in Greater Boston, so I’ve also wondered if I should specifically start networking with advisors there now.
A few other things I’d love advice on:
What jobs/internships would you prioritize during college?
Would reaching out directly to smaller RIAs for part-time work actually be worthwhile?
Is there any reason to take the SIE or pursue other licenses while I’m young?
What skills should I be learning outside of school?
What type of firm would you recommend starting at after graduation?
How important is learning sales/prospecting and eventually building a book?
Is there anything you wish you had done at 18–22 that would’ve helped your career later?
I’m not expecting to graduate and immediately make a ton of money or start my own RIA. My goal is more to use the next several years to become genuinely good at financial planning, understand the business side of wealth management, and set myself up to eventually build something of my own.
If you were 18 again and wanted to eventually become a CFP and own an RIA, what would you do differently, and does my current direction make sense?

Every offering memorandum highlights the strengths of a deal, but I'm curious where experienced people start digging first.

Moving back to India soon and transitioning into the RNOR tax status window.

I’ve decided to use Interactive Brokers (IBKR) for my global exposure and plan to shift fresh capital allocation toward US equities while managing my broader wealth planning in India.

Looking for recommendations on:

1. US Equity Research: Reliable momentum/tactical research tools or screening frameworks suitable for managing US stocks on IST hours.
2. RNOR Wealth Strategy: How returning NRIs balance US stock allocations alongside Indian fixed income/debt instruments during the tax-free foreign income window.
3. IBKR Setup: Any operational best practices for maintaining an IBKR account smoothly post-move.

Appreciate any insights!

Anyone start this role with experience in industry as an associate/service rep for the advisor/ I have a cfp/ never owned own book or relationship.

What is the training like?

What should a base salary be for mid size metropolitan area

How is bonus/commission structured- monthly? Quarterly?

Are they strict with KPI with new advisors wihh to no experience?

If branch had no leads- do they expect you to “door knock”/ cold call random people? Or are there branch clients that are not assigned to an advisor that the rep calls.