I'm looking to find the best type of firm (Fisher, Vanguard, Schawb, private etc.) to help a friend invest. I'm not looking for investment advice per se, I'm looking for guidance on where to send someone looking for support.
She's a lady in her late 60's who just inherited her father’s estate. About $2M +/-. She talked to someone willing to manage her money for 4-5%. We told her to hold on that because one, that was way, way too much and two, her money was in seven banks(!) and she didn't know how much she had among the banks and the various accounts (savings, checking, CDs) within them. So we were worried that hundreds of thousands could 'disappear' and she wouldn't have known about it. We helped her consolidate and put it all on a spreadsheet so at least she knew what she had.
But now she needs advice, and I don't want to be responsible for that. 1 to 1.5% would be a lot for me, as I can manage my own money, but she just can't do it. Not to disparage her, but she's just not educated, and at this stage in her life she just isn't going to be. Sweet, hardworking yes. A CPA? No.
What does the reddit investment community recommend for someone like her? Thanks in advance.