I should have made 324,000 last year.

Here's an idea, why not start a conversation with the guy. Thank him for the returns that he has been getting for you (calculate what they are risk adjusted and then do the same for you own account and you might be surprised) Tell him you are interested in money management and show him what you are doing in your account. Ask him for advice and suggestions. If you come at him with humility and with a real desire to learn you (after all he is the professional and you are the greenhorn) you might be lucky enough to engage him in an ongoing dialog and even score an internship and get some invaluable experience. Worst case he is not interested and just keeps making you decent returns. When your personal account, through your trading prowess, surpasses the size of your college fund then that might be the time to think about taking over management.

Speculating with only a small fraction of your net worth is the way to go imo so you probably have the balance about right as it now stands.
 
I was a broker at MER and MS for many years. It sounds like you have a managed money account. The programs have different names at each firm, but basically your local broker is not doing anything. Your acct is being traded in a pool by a money manager like Rittenhouse, NWQ, or some other firm.

Your local broker is probably getting anywhere from .5-2% annually (billed quarterly).
Most wirehouse firms were moving in this direction in the 1990's. The idea was to get the broker away from making trading decisions so he or she could focus on raising assets.

Call and find out what your fee is. It's negotiable, but a $200k account doesn't have a ton of pull so the guy might not give you much of a break.

Here's the NWQ site. Looks like they were bought by Nuveen.
www.nuveen.com/nwq/about/Default.aspx?ct=20070201

Personally I think the programs are pretty good. I had about 60% of my book in them back in the day.
 
Quote from cashmoney69:

do you think I'm ready to manage such a large account?

cm69
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from your past posts, it appears you consistenly lose money. why would you think you can manage any account?
 
The question is, how would you allocate the 200k and how much risk are you willing to be exposed to? Unless you can handle a lot more risk then I think your money manager is doing a pretty good job. If i remember correctly I think you're like 20 years old...that's a pretty nice chunk of change to have before you're out of school...i'd say be safe with it.
 
Quote from hidethereal:

If you have to ask this question then the answer is no.
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Spot on. Honestly, the times any person does the best is when the have a sound method to suceed and the utmost confidence in themselves, not arrogance, but confidence.

Sorry, but you obviously don't have that confidence, otherwise you won't be polling opinions on ET. That's ok everyone has been there, including me. It's good for you to find out the cheap way, instead of coming back to ET and saying............Oh my god I just blew up my 200k nest egg, what do I do!!???

The OP that said you should strike up a conversation with your broker is giving you good advice. You have nothing to lose and everything to gain. You have some leverage with him, not a ton, but you are his customer, so tread lightly and see what happens.
 
And by the way....when I started a thread asking for opinions on what I should do with the 40k in capital gains from the house my parents bought me for college I got a few lashes for being a spoiled twat.....where'd this 200k come from anyway??Someone let him have it already!!
 
cash - do NOT touch this money. I have read your posts over the months and in my opinion, you are not prepared for this type of money.

As others have suggested, talk with the broker and money manager. Perhaps you can talk about a more aggressive strategy on a portion of the money.

You are in a VERY fortunate position to even have an account that size at your age. Don't blow it b/c you think you know everything and can churn the hell out of that account.
 
Why not pretend like you have the money and allocate it on paper? Then see how you do over time with the make believe portfolio. If you do well enough and feel confident, then take a portion of the money from the account manager. Lets say 50,000 and then allocate it.

Start slowly and go from paper to a small portion and then ease your way up to the whole thing. Dont use margin.
 
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