FYI: Apple Inc. should provide a boost to stocks this week.
Regards,
Ted
http://blogs.wsj.com/moneybeat/2015/07/20/morning-moneybeat-apple-to-push-tech-earnings-into-positive-territory/tab/print/
Cuirent Futures: (Positive)
http://finviz.com/futures.ashx

FYI: (Click On Article Title At Top Of Google Search) This is a follow-up article.
Hedge funds are known as heavy buyers of Puerto Rico bonds, but as the U.S. commonwealth works to restructure about $72 billion in debt, it is a pair of mutual-fund firms that may take the lead in negotiations.
OppenheimerFunds Inc. and Franklin Advisers Inc. together owned about $10.8 billion face amount of bonds, representing 15% of Puerto Rico’s debt as of March 31, according to The Wall Street Journal’s analysis of data from Morningstar Inc.
Regards,
Ted
https://www.google.com/#q=mutual+funds+are+front+and+center+in+puerto+rico+talks+wsj

While some have been selling their gold holdings old_skeet has been building a position in SGGDX while gold's price is back of $1250.00 an ounce; and, by my research this is below its all in cost to mine. Time will tell if building this position is prudent.

What I wrote is pretty much a one-line summary of the CR study; I think that serves as substantiation.
Chuck acknowledges that the free advice you get is limited by asking: "Do you need more customized advice or additional help with your financial situation? A personalized investment plan that’s created and implemented for you by a team of professionals could be the answer. " Schwab Private Client service.
So there's more advice that you're not getting right now. But you do need to pay up for it. And give him $500K to invest. As you noted, Schwab offers a variety of these services (this one is a bit cheaper - 0.90% for equities, 0.70% for bonds).
The knock on Schwab's robo manager (Intelligent Portfolios) is that they're making their money off of the cash they allocate to your portfolio. Ted posted an article to that effect in this thread:
Schwab 'Robo-Adviser' Bets Big On Cash And 'Smart' Beta
Here's a column estimating Schwab's take (mostly from the cash allocation, but also from using their own investment products) at around 1% - about what you'd get charged for most of the services discussed in this thread.
https://www.hedgeable.com/blog/2015/02/schwab-intelligent-portfolios-review/
"Regrettably, this promising program has turned out to be a lot of smoke and mirrors."
You may be thinking that I'm leading up to saying that the "free" advice you're getting is neither free nor advice. I'm pretty close to that, but not quite there :-)
The name of the game with financial institutions is asset retention. If they can give you something of value (limited advice) at little cost to them, and get you to keep assets there, they win. The advice they're providing has value, apparently enough for your purposes. And they're not charging you, but writing it off as a cost of business (asset retention).
If it works for you, great. When you pay, at EJ or with Chuck, you should be expecting more. At least Chuck gives you a money back guarantee.

In that space I would do 50-50 RPV and RPG and hopefully slightly outperform all of the above. Even more than RSP, weirdly. Check out past performance. Not responsive to your OP, admittedly. Like SCHD too.

Right. VIG is fine. Just depends which vehicle one likes better.
As for the fee of .20% vs. .10%, from what I understand, the existence of "front running" by traders adds a hidden but very real cost to any index etf -- a cost of maybe .2% or more per annum. So truly, the old fashioned open end fund -- at .20% -- may be cheaper.
However, the actual results over the past 5 years show an annualized advantage to VIG of right around .1% exactly -- hmmmm.
another good alternative: SCHD.

It seems that there is no set aum standard for having advisory help, you have to find what works best for you and research the person that will be advising if that is the route you decide to take. When I inherited a portfolio almost three years ago, it was larger than I was used to self managing, so hired a CFP at Merrill whom I knew for about 5 years. I pay less than .75%, AUM fee, get access to Institutional fund class funds, thus a lower ER on many funds and advice as often as I want. I like the idea of a second set of eyes and sometimes we disagree, but I make the final decision in the long run. Sometimes I was right and sometimes she was right, it all balances out.
Only disadvantage is they don't sell all funds like a fund supermarket or discount broker, perhaps that is why those houses charge more for managing or advising. I do still have a small acct at a discount broker for those times I do want to buy a fund ML does not sell. Just my $.02

"For starters the advisory fee at Fidelity is stated as "between 0.63% and 1.7%" according to the link msf provided."
Charles wrote: "So, they [EJ] charge you 1.5% each year to manage your life savings". I simply responded with the same phrasing, figuring we both knew what that meant. The article states that EJ "charges up to 1.5%", so apples to apples, EJ still looks cheaper than Fidelity.
" I don't think that either Charles or I (I'm sure about me) were suggesting that EJ or anyone else (e.g. Fidelity, Schwab etc) other than the issuing fund company were collecting the loads charged."
Charles continued: "Will sell you American's front-loaded funds, which takes 5.75% off the top (and Edward Jones pockets)." It sure sounded like Charles was suggesting that EJ collected the loads.
You may have meant something different, but your article quote was: "Jones last year earned $49.4 million in revenue sharing from sales". Those are loads (and/or trailing commissions, another form of loads, per SEC). That's $49.4 million of loads collected by EJ. (Well, technically collected by American funds and "shared" with EJ, hence revenue "sharing".) That's why I noted that this amount was in addition to the servicing fees received by EJ from the funds.
-----
@Maurice - what Fidelity suggests with Premium services is that you "Talk to your [Fidelity] financial consultant about a referral to an independent, registered investment advisor who can provide customized portfolio management, advice, and specialized products."
It seems Fidelity Premium Services does not provide advice - you need to go elsewhere and pay for it.
No pressure for high rev products at Fidelity? When I moved an annuity out of Fidelity, they called me at 6:30 in the morning local time, and spent a half hour trying to talk me into undoing that. They even got an annuity specialist on the line midway through the conversation.
The products for which reps get the highest compensation, i.e. trailing fees, are Portfolio Advisory Services (PAS) and annuities.
I figure that's why my rep kept reminding me for a few years that I could offload all my portfolio management work onto PAS. He gradually accepted my statement that I prefer to do this myself, and has since gently tossed a product idea or two my way from time to time. A much improved working relationship.

NOBL looks great. I like the fact that it is a compact portfolio, and I like the fact that it is equal-weighted. Also I can live with the .35% management fee.
In the same vein is the open end fund VDAIX, where the index requires only 10 years of consecutive dividend increases vs. 25 years for NOBL. Management fee is .20% and it holds a cap-weighted gaggle of 181 names.
I would not consider QVAL. I am unfamiliar with the quantitative screens it uses, although I have little doubt that they have all back-tested very well. To me, these somewhat esoteric screens add uncertainty and violate the KISS principle. Further, it is billed as an actively managed etf which not only gives humans a chance to mess it up, but which costs .79% annually. My guess is that over time it will lag the others mentioned here for that reason alone.
I feel that chances are all of these mentioned will do fine. The phrase "6 of one half-dozen of the other" comes to mind, but for a certain type of weirdo (present!) it is fun and interesting to split the hairs. Thanks for pointing out NOBL, scott.

"So they will charge you 1.5% each year ...." As opposed to someone like Fidelity, who will charge you, um, 1.7% for a Portfolio Advisory Service account (which just puts you into one of their model portfolios based on risk/objectives), or if you've got $200K, they'll come down and match Edward Jones' 1.5% for an SMA account.
With respect to that supposed front end fee - EJ receives the equivalent of 0.024%/year of AUM from American Funds (assuming no sales load). Converting that into a one time sales load (rather than ongoing trailing fee), EJ receives the equivalent of 0.247% in loads. With most fund families, EJ doesn't get sales load revenue at all (just trailing fees).
Now EJ does also receive recordkeeping fees for keeping track of individual investors' accounts and bundling into omnibus accounts. For that it receives up to 0.25% from the fund families. So the total payment/year received is about 0.274%.
Contrast that with the 0.40% or so that Chuck (Charles Schwab) receives for selling you NTF funds. Or even with what Chuck gets for selling you TF funds!
("Most [Transaction] Fee Funds pay Schwab a low annual asset-based fee, typically 0.10% annually of the average fund assets held at Schwab, although the fee can range up to 0.25% annually.")
The money's not in commissions, it's in AUM fees. For which the investor is receiving advice. Same as with Fidelity and other "discount" providers that charge comparable fees. Even Vanguard doesn't give that away for "free" (0.30%/year).
Here's EJ's rev share disclosure (where that $49.4M figure came from).

That's not accurate, Charles. I hold AF shares at EJ. There is no wrap fee. My sole fee is the ER which is second smallest in the mutual fund industry. EJ (including my advisor) is paid from the 12b1 (.25) which is included in the ER.
Also the load can be reduced or eliminated depending on the amount invested.
EJ is of course wanting more from customers like me, that is what is behind their Portfolio Solutions program and their new proprietary funds.

That's driving the costs of managing the actual money lower, though it's not clear the benefits are always being passed to investors.

I get irked each time I pass an Edward Jones store front. Each time I see an Edward Jones commercial on MLB TV.
So, they charge you 1.5% each year to manage your life savings. Will sell you American's front-loaded funds, which takes 5.75% off the top (and Edward Jones pockets)... and will put you in a new front-loaded funds each year for the rest of your natural life.
A fear I have ...

I think this might be the list Ted intended to link to:
http://dailyalts.com/list-of-new-liquid-alternative-funds-launched-in-2015/
If not I'm sure he will correct me.
FWIW, none of these funds appeal me in the least but I would love to collect all the fees they charge.

FYI: (Build It And They Will Come)
The following table provides a list of new liquid alternative mutual funds, ETFs, ETNs and closed-end funds that have been launched in 2015.
Regards,
Ted

FYI: How’s your macro?
Not too good? Terrible? Unsure what that even means?
Let’s start here: Macro refers to the large geopolitical moments, and the natural and man-made disasters, that some investors track as potential market moving events. Large economic trends or reversals, diplomatic breakthroughs, political crises and even war are all macro events.
Regards,
Ted
http://www.washingtonpost.com/business/get-there/the-travels-and-travails-of-the-macro-tourist/2015/07/16/31eeaf64-2b2d-11e5-a5ea-cf74396e59ec_story.html
When Hawks Pray On Bulls:
http://www.allaboutfunds.com/other/tragedy_special2.html

@hank - I think that's really a very good, rational response. Instead of using rigid rules of thumb like 4% annual drawdowns, the better advice is to be more flexible and to adjust as conditions change. It sounds like that's what you are doing. While there may be some lean times, in general this should enable you to spend more ("splurge", if you will) over time.
Regarding SS and DB (I think that's what you meant) pensions, I'd be more concerned with the latter, as companies providing pensions planned on good market returns that did not materialize. SS is more a matter of demographics (since it's largely pay-as-you-go). Worst case with SS appears to be a drop to 75% of benefits around 2033, if nothing is done.
Latest SS Status Report (2014)

My fear or lack of fear in spending varies with the conditions. If the markets are raging ahead and my IRA has been increasing at 7-10% annually, I'm inclined to splurge more (on vacations, home improvements, etc.). The past couple years the IRA's been stuck in a rut. That's partially due to some longer-term speculative plays that haven't yet worked out, but also due to slower growth in the major equity and bond indexes. So the IRA hasn't grown much the past year or so. As a consequence, I'm less likely to spend.
Another concern is the intense political rhetoric about curtailing SS which seems to ebb and flow. We're also dependent on a couple DB pensions, so the speculation re SS and pension solvency both have an impact on our thinking. While I can control our investing and spending, I have no control over what the politicians and courts do in regard to those other two matters. Probably a dumb response - but there's an emotional component to all this that's hard to escape.
I was probably 45+ when we finally got down to hard-tacks and paid off all our revolving credit and instituted an annual written budget. It was than that savings really increased. The first few years were excruciatingly difficult for us. Drove worn out vehicles and curtailed discretionary travel among other things. In retrospect, it was the smartest thing we ever did.

Wow linter and all. We couldn't be more opposite. If I want something I buy it. If my wallet doesn't have money in it I stop at an ATM. I hate being cold so I turn the heat up in the winter. I would never waste my time clipping coupons. I'll buy the more expensive beer because it taste better. If I'm in the mood for a lobster tail I go to the store and buy a couple (my wife likes them too). My wife loves gardening. Every spring she probably spends well over $500 on plants and the other stuff that goes into beautiful gardens. How do you argue with that. It makes her happy.
I understand everyone trying to save a dollar here or there, but denying myself life's small luxeries to save $200, $500 or even a thousand a year doesn't make sense to me. Life is to short and unexpected things happen.
So I guess I'm the guy who is afraid to go into debt but not afraid to spend the money we worked for all our lives... and at 61, still working. I much prefer this way then having to clip coupons in "early retirement".

let's see. i stopped smoking not for health reasons but just because ciggies got too damn expensive. gave up drinking for other reasons -- sigh -- but doing that gave me an excuse to no longer go to bars, so i'm saving a ton of money that way. no more liquor store expenses either. constitutionally, i don't like going out to eat, so i bet that saves me some money right there. just got rid of my cable TV service, moving over to the Kodi home theater thing (which is giving me fits).
my town is small, so i bought an electric bicycle to do all my errands with. haven't started my car for short hops in a few months. bought and modified a bike cart so i could take my dog to the park and elsewhere w/ me.
several years ago, before leaving town for several months, i hid $4k somewhere in the house and have been unable to find it. i've spent hours searching, to no avail. it's driving me crazy.
similarly, during y2k, i took $10k in small bills and hid it in a strong box. then i forgot about it, until 8 years later, when i saw the strong box and wondered to myself, hey, i wonder what's in there. lo and behold ....
but i digress.
i will wait until i'm sweating bullets in the heat and my dog is nearly comatose before i turn on the stupid, electricity-sucking air conditioners.
often being pound wise and penny foolish, i will spend hours on slickdeals looking to save a few cents. most recent ***big*** find: norizal anti-dandruff shampoo, which dropped from $10 for 7 oz to $8.07 with amazon subscribe and save. yeah, man!
refuse to buy organic meat a/ because it costs so much more and b/ because deep down i believe the organic label is just another ploy and/or marketing scheme.
love thursdays, when the weekly supermarket circulars arrive. i grab em, hop in bed, and begin looking for what's on sale that i normally buy. 75% of what i get is from these circulars.
and on it goes, much to the dismay of my loved ones ...

FYI: Gold is supposed to be a haven amid hard times and soft money. So why, even as Greece has defaulted, the euro has sunk against the dollar, and the Chinese stock market has stumbled, has gold been sitting there like a pet rock?
Regards,
Ted
http://blogs.wsj.com/moneybeat/2015/07/17/lets-be-honest-about-gold-its-a-pet-rock/tab/print/
M* Snapshot GLD: http://www.morningstar.com/etfs/ARCX/GLD/quote.html