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Old 06-18-2011, 09:12 AM   #1
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FA recommendation

Being relatively new here, I'm not sure if it is appropriate to solicit recommendations for financial advisors. I'm 60, and retired - part time since 94, full time since 99. My spouse will be retiring within a few years. At that time, we will start using IRA's to supplement her pension and, of course, eventually SS.

I am currently with Ameriprise and investigating a possible switch. Like many others, I have become increasingly disappointed with the service Ameriprise provides, particularly considering the relatively large fees I pay. A lot of people appear to have switched (especially from Ameriprise) to Vanguard. If it is OK to ask for FA recommendations here, I'd be interested in talking to a Vanguard representative in SE MA - close to Plymouth would be ideal. Driving the 40 miles through Boston traffic to meet with my FA twice a year has always rubbed me the wrong way, especially considering that $800 annual advisor `fee' I get socked with in addition to the 1% I pay to manage my accounts.

Thanks in advance for any thoughts or contacts you might be able to provide?
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Old 06-18-2011, 09:18 AM   #2
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Originally Posted by nafddur1 View Post
...especially considering that $800 annual advisor `fee' I get socked with in addition to the 1% I pay to manage my accounts.
Ouch! Insult on top of injury.

All my dealings with Vanguard have been by phone and online. I've never seen the need for face-to-face contact, but then I've always been the DIY type when it comes to investments.
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Old 06-18-2011, 09:34 AM   #3
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Originally Posted by REWahoo View Post
Ouch! Insult on top of injury.

All my dealings with Vanguard have been by phone and online. I've never seen the need for face-to-face contact, but then I've always been the DIY type when it comes to investments.
Being not-so-much of a DIY'er with my retirement portfolio, I've never minded periodic personal contact. Though, for what it seems to be providing me (at least until we actually start living off our portfolio and will need to be more proactive), I've always thought a once a year personal visit would suffice. I've also gotten twice a year phone `consultations' (in between the 6 month face to face visits), but those too seem largely unnecessary. I think those are only to help justify that advisor fee. In fact, the latest touching base phone call was assigned to a new `kid' in the office - someone I had never met or heard of, even though I've been involved with this office for over 20 years. MY FA was apparently too busy to make that call himself. Another adding insult to injury, as you put it, REW.
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Old 06-18-2011, 09:41 AM   #4
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Several threads about leaving Ameriprise, including this one: Hi all...glad to find this site but now disgusted with myself! which describes the Ameriprise untangling one of the members here went through.

As REW touched on, Vanguard doesn't have physical offices to visit if that is important to you. Fidelity, Schwab, and T. Rowe Price (also often mentioned on these boards, among others) do have investment centers but you'll have to check if they are convenient.
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Old 06-18-2011, 10:20 AM   #5
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I am a do-it-yourselfer, but when I need hand holding I use the local Fidelity office. I don't let them sell me anything and use their Spartan funds and iShare ETFs. If you need more help, I'd look for a fee only adviser - search here or on Bogleheads for specifics.
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