Zhang financial has an online reputation of gold, so we approached them two years ago to manager our money. While their fees are extroidinarily higher than other firms, we were intrigued by the "fee only" approach, meaning they only charge a fee and don't charge per transation.
Ironically the fee only approach is to Zhang Financial's benefit. We would have paid less to a traditional "big box" financial institution as Zhang Financial only executed about two transactions for our money over the two years we worked with them and Charles Zhang. We even went to meetings telling them that we had more money to invest to make our money "work better for us," to which they would not follow through on calling and effectively telling us what to invest and when.
Fast forward two years later, Zhang Financial has lost us tens of thousands of dollars while our personal 401k's have performed better than Zhang Financial (how could that be given those are very cookie cutter approaches to investments). All this with an extroidinary fee - significantly higher than that of the well known entities. Our personal investment account managed by us fared better than Zhang Financial. The S&P, the Nasdaq even performed better than Zhang Financial during the tenure with them.
Zhang financial is operated by Charles Zhang who is beyond arrogant in his market approach and approaches investing in a very old school way. This is illustrated effectively by the approximate two transactions that were made for us during our time with him. Charles Zhang will sell you on the progress his fund has made over the years, and then will fail to execute if you are not one of his $5MM customers.
Posting this with the hopes of educating other young professionals to take their money elsewhere.
Zhang Financial Reviews
Zhang financial has an online reputation of gold, so we approached them two years ago to manager our money. While their fees are extroidinarily higher than other firms, we were intrigued by the "fee only" approach, meaning they only charge a fee and don't charge per transation.
Ironically the fee only approach is to Zhang Financial's benefit. We would have paid less to a traditional "big box" financial institution as Zhang Financial only executed about two transactions for our money over the two years we worked with them and Charles Zhang. We even went to meetings telling them that we had more money to invest to make our money "work better for us," to which they would not follow through on calling and effectively telling us what to invest and when.
Fast forward two years later, Zhang Financial has lost us tens of thousands of dollars while our personal 401k's have performed better than Zhang Financial (how could that be given those are very cookie cutter approaches to investments). All this with an extroidinary fee - significantly higher than that of the well known entities. Our personal investment account managed by us fared better than Zhang Financial. The S&P, the Nasdaq even performed better than Zhang Financial during the tenure with them.
Zhang financial is operated by Charles Zhang who is beyond arrogant in his market approach and approaches investing in a very old school way. This is illustrated effectively by the approximate two transactions that were made for us during our time with him. Charles Zhang will sell you on the progress his fund has made over the years, and then will fail to execute if you are not one of his $5MM customers.
Posting this with the hopes of educating other young professionals to take their money elsewhere.