My longtime boyfriends's mother passed away last week. Boyfriend has been a bit of a wreck since mom's passing, but his brother who's executor is moving through the money things pretty quickly. Mom left a mid-six-figure estate and boyfriend stated that he intends on using a financial adviser for investment advice using the proceeds of the estate.
He already has a Fidelity account and has no desire to use any other brokerages, so he has a good of a start there. I know that he should find a fee only adviser that is a fiduciary. And I've read that he should probably choose an adviser does not also sell insurance, since the fiduciary duty applies only to investments.
Any other advice on choosing an adviser? Any recommendations on DMV-based advisers?
I know I could easily coach him on a setting up a Boglehead three-fund portfolio or even something more tailored, but I would feel uncomfortable having that kind of responsibility to be hanging over me, especially since that could cause resentments during a market dip. At this point, I'm going to do my best to recommend that boyfriend slow down and not make any big decisions quickly. I'm not quite even sure I'd like to give him a single specific adviser, but I'd ideally like to give him a list of "good" advisers and give him the tools to properly vet whoever he chooses.