Should I sue/threaten/berate my money manager for 0 returns over the last ten years??

Answer 1

Not nearly enough information here to answer this question.

Your money manager should have a customized investment profile for you based on your particular circumstances and risk tolerance. That should be updated at least annually. If you have changed your risk tolerance over the past ten years, I could see a zero return. If you were aggressive in the late 90s, then after the tech bubble burst you switched to a much more conservative stance then you could be back to zero.

Also, are you positive that it is a zero return? You haven't taken any distributions at all? Maybe there have been some returns but they aren't up to your expectations?

I think you should meet with your investment manager and discuss your concerns and your expectations from a risk/return basis. I think firing him is probably rash, and suing him isn't likely to get you too far. When you opened your account, you probably signed an agreement that waives your right to sue. You would have to go through arbitration.

Answer 2

The only person who is responsible for your money is YOU. Even though you give your money to a money manager it is you who decides which money manager you give your money to. You will not be able to do any of the things you want to do to him since he is a money manager and I am sure he has a good disclaimer to protect him from any legal challenge.
How many years do you have left to retirement? Based on this information I would start to forget about your money manager and start to learn more about the game of investing yourself so you can take the control in your own hands. Handing over your money to a money manager gives him the control, I am very surprised that you let him control your blood sweat and tears for 10 long years with 0 result!!

Please do a Donald Trump and tell the guy 'your fired' and try to make a plan of what you want to achieve in the next ten years. When you know where you want to go think about how you could get there and start to learn the rules. If you want to invest in the stock market start learning about the stock market, if you think real estate will get you where you want to go then learn about that. Remember a money manager manages a lot of money and most of it is not yours so you are only a number... this guy does not spend all of his time looking after only your money, also even if things are bad for you he still earns his salary. If you do decide that this investing thing is too difficult then at least get a money manager who doesn't only earn a salary but who earns more investing... that way he will actualy know what he is doing. Your guy seems to know more about opening pay checks than investing... If you are unable to find a suitable money manager who earns more moey with investing than he does opening pay checks and you don't want to invest on your own, then for goodness sakes put your money on a bank so that it earns some interest for the next couple of years!!

Finally be glad that the guy didn't lose you money casue that could have happened too so get your money back and start working on your plan, put the money on the bank till you finish your plan and take back control before he starts losing your money and you end up with 0 return and 0 balance... Be proactive and get that remaining money working for you!!

Good luck and perhaps read a book like 'The automatic millionaire' by David Bach or 'Rich Dad poor dad' by Robert Kiyosaki or any other book or internet article that will help you make a plan!!

Answer 3

You should find a different money manager!

Answer 4

No.
It's your money, your life, your decision.
Go out and manage your own investments.
You may get it wrong, but at least it's your choice.

Answer 5

I agree with Billy... Your other options wouldn't do much good, you should have fired the guy long ago.

Answer 6

Fire the asshole!