I am relatively new to this group and investing. My question is basically: Should I pay .82-.89% of my managed portfolio to Fidelity wealth management team.
Portfolio:
I have 490k in 401k with a slight catch. 200k of that is currently held in current company’s 401k account for which I opted for Fidelity’s personalized management plan for which they charge .48%. The other 290k , I reached out to Fidelity wealth management team and they said they can do it for .88% .
Note : I am a novice in investing. I have 150k in cash in bank account which I plan to use for downpayment of new home after paying off the current home(Have to finish 300k . Home value :800. Should reach to 100 remaining in next 2 yrs)
The Fidelity advisor asked me to transfer the 150k to cash management account which was good advice I think. I didn’t even know about this. My question is straightforward. Should I use the wealth management service for the 290k , 401k ? I am not that good in investing but ok to take risk because I am 37 now. Please advise