Here are something significant with VPAS:
- It's not an one shot deal. Unlike most of the free service offers, VPAS enables you to develop an ongoing relationships with the advisor, you can talk or exchange emails with your assigned advisor to ask any questions you may have.
- You are not in driver's seat. With VPAS, you can't buy or sell in the managed account, your advisor will do it for you.
- Not much other value-added services. VPAS focuses on accumulation / distribution of assets, not much income tax strategies, estate planning, or insurance analysis, nor cash flow and budgeting issues.
The Bottom Line
If you are very capable of managing your own assets, don't bother with VPAS.
If you are financially savvy and know what you want to do with your assets, go with the free service offers. If you think you could benefit from advice from a CFA, go with the .3% plan.