Personal Finance 101 for Young Lawyers

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Re: Personal Finance 101 for Young Lawyers

Postby Anonymous User » Wed Jun 12, 2019 8:30 pm

This may be a dumb question, so please bear with me. I have had an investment account with a money manager (like UBS, Morgan Stanley, etc.) that is heavily invested in publicly traded stock. I am going to start at a large firm in the fall and I will inevitably have some conflicts. What should I do? Should I ask the firm/whom should I ask at the firm? I already talked to my account manager and he just told me he would wait to get more info from me.

pithypike

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Re: Personal Finance 101 for Young Lawyers

Postby pithypike » Wed Jun 19, 2019 11:45 pm

Check with your internal compliance guys, but if you aren't making trading decisions it shouldn't matter.

Separately, you should instead DCA into a total stock market index or VOO. Doubt your guys are beating the market after fees.......

icansortofmath

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Re: Personal Finance 101 for Young Lawyers

Postby icansortofmath » Sat Jun 22, 2019 9:49 am

You have to ask your compliance. Policies err on the side of caution always so they end up stricter than is probably necessary.

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AVBucks4239

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Re: Personal Finance 101 for Young Lawyers

Postby AVBucks4239 » Thu Jun 27, 2019 3:12 pm

Anonymous User wrote:This may be a dumb question, so please bear with me. I have had an investment account with a money manager (like UBS, Morgan Stanley, etc.) that is heavily invested in publicly traded stock. I am going to start at a large firm in the fall and I will inevitably have some conflicts. What should I do? Should I ask the firm/whom should I ask at the firm? I already talked to my account manager and he just told me he would wait to get more info from me.

Regardless of your potential conflict issues, from a financial perspective, you shouldn't be paying anyone to manage your money, and you should just get a Vanguard account and invest in an S&P 500 index fund.



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