<prompt> Human: So, my wife and I are in our early 30s. We have good income as lawyers but also a lot of student debt. We wanted some help with big picture goals paying off debt, saving for homechildren, investing our savings, etc., so we started to consult with a financial adviser who is a friend of a friend. Im looking for some input on what has been recommended to us because we are not familiar with what is standard in the market or what other options might exist.This adviser is recommending that we put our current savings and future monthly savings into what he calls a wealth coordination account with SEI Investment Trust Company and name him as broker. It would be an investment account that would aim to earn 1-2 above inflation based on our risk aversion and short-term goals, we would not select a more aggressive portfolio. Quarterly fees are .035, but there is a one-time set-up fee of 10,000, which is a big red flag to me that someone is trying to pull one over on us. Any idea on who might be making the commissions or taking home the set-up fee on this between the financial adviser or the investment company? Does this even remotely resemble a normal accountservice? Much appreciated.  <response>: Well, I dont know whether the fee structure is normal for the industry but it seems like youre being taken for a ride. With a desired interest rate so low why wouldnt you just put funds into a savingsmoney marketchecking account for free?My advice is stay far away.Edit: misread the 1-2 as the investment objective, not 1-2 above inflation. I still think my point holds, though perhaps instead of a traditional baking product you may want to research low cost fixed income mutual funds and ETFs. 