MSLC
Morgan Stanley Pathway Large Cap Equity ETF
stockNYSEETF

My mom has been complaining about poor returns from her 1% AUM FA for years. I did a deep dive and I’m curious if anyone else can take a look. She selected a conservative return on purpose, despite living off her pension, having 400K in cash, and not needing to take a cent in withdrawals. Many of the funds in her portfolio have higher-than-average expense ratios, and there’s a lot of overlap between funds in each account. Can someone take a look and let me know if this is typical for financial advisors or AUM fees? I also wish she didn’t feel the need to keep so much of her wealth in cash (especially considering she has a pension and does not to withdraw from investments anytime soon), and I don’t think she necessarily needs a financial advisor. But she feels more comfortable with one. The best I can do for now is to convince her to consider switching to a new advisor if warranted. Current values: - IRA: 1.401 million - Roth IRA: 114K - Taxable Brokerage: 71K - Separate Account (no AUM fee): 297K (183K in cash and 114 in short term mutual funds) - Credit Union Savings: 200K Portfolio: IRA: 1.401 million Bonds: 48% - MAHQX (Blackrock Total Return Fund) 12% - FBND (Fidelity Total Bond ETF) 12% - BND (Vanguard Total Bond) 10% - PTSPX (PIMCO Short Term) 2% - PFTPX (Pimco Low Duration Fund) 12% US Equities: 36% - IWF (iShares Russell 1000 Growth) 12% - IVV (iShares S&P 500) 4% - IWD (iShares Russell 1000 Value) 3% - IWP (iShares Russell Mid Cap) 4% - GSFTX (Colombia Dividend) 5% - LSGRX (Loomis Sayles Growth Fund) 4% - OANMX (Oakmark Fund) 3% - WFMIX (AllSpring Mid-Cap) 1% International Equities: 16% - IEFA (iShares Developed Markets) 5% - CIVIX (Causeway Int Value Fund) 3% - GQGIX (GQG Emerging Markets) 3% - IEMG (iShares Emerging Markets) 3% - GSIMX (GQG Int Opportunities) 2% Roth IRA: Bonds: 32% - TIIUX (Morgan Stanley Core Fixed Inc) 22% - TSDUX (Morg Stanley Short Term Fixed Inc) 5% - TIFUX (Morg Stanley Int Fixed Inc) 3% - THYUX (Morgan Stanley High Yield Fixed Inc) 2% US Equities: 46% - MSLC (Morg Stanley Large Cap) 38% - MSSM (Morg Stanley Small Cap) 8% Int Equities: 21% - TEMUX (Morg Stan Emerging Markets) 8% - TIEUX (Morg Stanley Int Equities) 13% Taxable Brokerage: Bonds: 32% - TIIUX (Morgan Stanley Core Fixed Inc) 22% - TSDUX (Morg Stanley Short Term Fixed Inc) 5% - TIFUX (Morg Stanley Int Fixed Inc) 3% - THYUX (Morg Stanley High Yield Fixed Inc) 2% US Equities 46% - MSLC (Morg Stanley Large Cap) 38% - MSSM (Morg Stanley Small Cap) 8% Int Equities: 21% - TIEUX (Morg Stanley Int Equities) 13% - TEMUX (Morg Stan Emerging Markets) 8% Separate Account (no 1% fee) - LUBAX (Lord Abbot Short Bond Fund) 56K - PSDTX (Putnam Short Duration Inc Fund) 57K