Met with an advisor today who acted like he didn’t understand income and long term capital gains tax brackets and dismissed the fees stated in his firm’s ADV Part 2A as being a “worst case scenario” and not something that I should worry about. He also tried to justify having funds with higher expense ratios as being tax efficient from a capital gains perspective in a taxable account when he had the same fund and allocation percentage in a tax advantage (IRA) account.
I’m thinking I should run based on what I perceive as several red flags…what say you?