<prompt> Human: Hi,Recently I was contacted by a financial planner that is trusted by some friends of mine as their own personal financial planner. Currently, I have around 25k sitting in a 401k from my previous employer, and the financial planner suggested rolling over that balance to a new account that he could control. This would include a Roth IRA and a personal IRA.Now, what concerns me is that the financial planner would take a 5-34 cut of the initial balance as I transfer over AND 5-34 of all my future contributions.The 5-34 seems like a lot for me to lose off the top.What do you guys think?Thanks in advance for the insight!Assistant: Run the fuck away from this person.Human: Well they does have the trust of several people I wholeheartedly trust. I think if I had more money, the percentage goes down, but it just seems like so much when just starting out.  <response>: You should never pay any money as upfront sales loadcommissionanything to invest. There are readily available investment options that have no fees and minimal ongoing expenses for retail investors.These people that trust this financial planner almost certainly have no idea how much theyre getting fleeced. They just see a nice suit and a friendly smile and assume this person has their best interests at heart. But business does not work that way. 