An 86-Year-Old With 92% in Stocks: Is Her Advisor Right?

A viewer named Terri wrote in about her 86-year-old mother. Her mom has about $150,000 in an IRA, an advisor at a big Wall Street firm built the portfolio, and now that advisor is leaving for a new firm and wants Mom to follow him. Terri thinks the account is far too risky. In this video I evaluate it the way I would if it were my own mother's money.

*Resources*

Morningstar (free fund research): https://www.morningstar.com
JPMorgan Mid Cap Value Fund, Class A (JAMCX): https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-mid-cap-value-fund-a-339128308
Lord Abbett Fundamental Equity Fund, Class A (LDFVX): https://www.lordabbett.com/en-us/financial-advisor/investments-and-performance/mutual-funds/fundamental-equity-fund.class-a.html
Invesco Global Core Equity Fund, Class A (AWSAX): https://www.morningstar.com/funds/xnas/awsax/quote
Vanguard Total World Stock ETF (VT): https://investor.vanguard.com/investment-products/etfs/profile/vt
Vanguard LifeStrategy Moderate Growth (VSMGX): https://investor.vanguard.com/investment-products/mutual-funds/profile/vsmgx
SEC — Regulation Best Interest (Reg BI): https://www.sec.gov/rules-regulations/2019/06/s7-07-18
FINRA — Senior Investors: https://www.finra.org/rules-guidance/key-topics/senior-investors

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0:00 An 86-year-old's advisor-built portfolio
1:41 Is 92% in stocks too risky at 86?
2:10 The three funds she owns — all Class A
2:34 Over 1% a year in fund fees
3:18 What's actually inside each fund
5:44 Do these funds beat the index?
7:23 Back-test: Invesco vs. a global index fund
10:23 Class A shares and the 5.25% front load
12:10 Broker or fiduciary? Who she's really dealing with
13:42 Reg BI: the "best interest" rule
16:18 Why three fund families? The breakpoint question
18:33 What I'd tell my own mom to do

ABOUT ME

While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. I've since sold my websites, bought them back, and started a new website and this YouTube channel.

I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (https://amzn.to/3by10EE)

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.

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