Mom is retiring and has money in a deferred comp account through her govt job. She is going to rollover this account to a traditional IRA and invest the money in VT. At age 67, she will begin gifting the annual gift limit to my sibling and I so that we don't inherit a large IRA that needs to be liquidated in 10 years.
The FA at her bank is offering her the following fee structure:
\-.5% on buys and sells
\-No fee on RMDs, dividends, or gifting
Personally, I think it sounds like a solid deal as we arent going to be actively trading in the account. I know enough about investing to be dangerous but I do find value in having a professional we can go to for advice, estate planning, etc. Also, it takes away the responsibility from my sibling and I to manage my mom's stock accounts.
Any huge red flags with the strategy or fees?