Midpack
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
So you choose to shun us for having a POV that differs from yours? Interesting...
Anyone used Vanguard's Personal Advisor Services?
- Thread starter David1961
- Start date
target2019
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
In any public forum you will get lightly tossed, pummeled, or stoned. I say that with tongue in cheek. Understand that people here have very strong convictions. If you have a minority opinion, it will get challenged.
The way to discuss this is with hard facts. For example, you started a Roth for daughter. That's an excellent way to teach. I did that with mine at 14 or so, I think. She had earnings, so we took advantage.
I am trying to pass on to her what I've learned. So we agreed to:
VTSAX Vanguard Total Stock Mkt Idx Adm Fund VTSAX Quote Price News
I am convinced that is the only way to go. She doesn't need a higher expense fund than that, or much more complexity in her 20's.
You have a different opinion. That is fine with me.
MRG
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Apr 9, 2013
- Messages
- 11,078
GolfingDuo,
People here genuinely try to help, it's not about just different opinions. Please post your fund picks, if they perform better I'll look to your guy.
Meanwhile please do some reading. Search this site for other threads about Ameriprise or Edward Jones and the ilk. Here's one of a forum member that figured out who Ameriprise was helping out.
http://www.early-retirement.org/forums/showthread.php?t=77796
I am sure if you poke around independently you will find all kinds of folks who figured out the same thing.
Good luck to you.
People here genuinely try to help, it's not about just different opinions. Please post your fund picks, if they perform better I'll look to your guy.
Meanwhile please do some reading. Search this site for other threads about Ameriprise or Edward Jones and the ilk. Here's one of a forum member that figured out who Ameriprise was helping out.
http://www.early-retirement.org/forums/showthread.php?t=77796
I am sure if you poke around independently you will find all kinds of folks who figured out the same thing.
Good luck to you.
GolfingDuo
Recycles dryer sheets
No I shun folks who think they are smarter than everyone.
Another Reader
Thinks s/he gets paid by the post
- Joined
- Jan 6, 2013
- Messages
- 3,413
Vanguard and Fidelity do not have Class A, B, or C shares. There is no commission to buy their funds. At both houses, a lot of ETF's are also commission free. Most of the index funds at both have fund fees of less than 0.10 percent.
If you feel you need your hand held, Vanguard will set you up for 0.35 percent. I have enough money at Fidelity that I can sit down with the person that handles my account to review things a couple of times a year - no charge.
Ameriprise will put you in loaded funds and charge an account management fee. There is nothing they will do for you that you cannot do yourself if you spend a little time looking into investing.
People here dislike both Ameriprise and Edward Jones because they have seen the results of working with these companies many times. Please do some research on Ameriprise before giving them your or your daughter's hard earned money.
If you feel you need your hand held, Vanguard will set you up for 0.35 percent. I have enough money at Fidelity that I can sit down with the person that handles my account to review things a couple of times a year - no charge.
Ameriprise will put you in loaded funds and charge an account management fee. There is nothing they will do for you that you cannot do yourself if you spend a little time looking into investing.
People here dislike both Ameriprise and Edward Jones because they have seen the results of working with these companies many times. Please do some research on Ameriprise before giving them your or your daughter's hard earned money.
Fedup
Thinks s/he gets paid by the post
I put my daughter's Roth money at a Vanguard Capitol Opportunity, it's now closed. I don't know if this is good return or not, it shows close to 9% since investing, according to Vanguard. Before that her money was in Vanguard Star fund, she started when she was either 15 or 16.
Last edited:
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Whether you choose to shun this forum or not, please, for you and your daughter's financial well-being, do some independent research on Ameriprise and their business practices.
Please don't take this personally. I think you will find many members receptive to the idea that some people may benefit from advisors, just not Ameriprise. There are better options out there. And in the case of Ameriprise, it's not that members feel they are smarter, just more experienced.
Last edited:
GolfingDuo
Recycles dryer sheets
Target I get that part but the original poster ask about one. I don't say any of you are wrong. I do know when I am being lied to and I know my friend a lot more than you do.
MRG I know that as well. In this case we are going to start the process. We are not transferring 1 million dollars to it. If the funds under perform we can fire him.
So bottom line here is I was not asking anyone here for help. I offered an alternative to the original poster.
MRG I know that as well. In this case we are going to start the process. We are not transferring 1 million dollars to it. If the funds under perform we can fire him.
So bottom line here is I was not asking anyone here for help. I offered an alternative to the original poster.
GolfingDuo
Recycles dryer sheets
Nothing personal but I have been with other companies and they have not done me anything that I would give a recommendation for. So with me being comfortable with this person and he is someone I can work with I will stick with it Ameriprise not withstanding.
I get it that some of you folks don't like Ameriprise. I don't like Putnum, Fidelity, Vanguard, and Charlse Schwabb so we agree to disagree.
Fair enough.
GolfingDuo
Recycles dryer sheets
So you dislike Ameriprise but I can tell you that I have had a Fidelity FA sell us stuff and it was loaded. I have had a fund in Putnam and it was loaded. So none of what you have told me has swayed me away.
Now as to which fund I chose I picked Columbia Balanced fund. I expect this to be the first of a few funds I get into over the years. If it is a dog we will change but Morningstar has it as a 5 star rating. If you guys have an opinion on this fund than chime in but leave Ameriprise out of the equation. Otherwise if you decide that you know better than me and want to belittle me bite your tongue or you will not ever see me back again. I suffer no insults. So far I have put up with a lot.
Last edited:
Fedup
Thinks s/he gets paid by the post
I don't like Vanguard nor Fidelity. One is bad at customer service, one used to like selling me things. And back then, I can't remember when I closed my account, the returns seemed spectacular but not when invested in them. I think must be high fees.
But I'm stuck with Vanguard .
But I'm stuck with Vanguard .
Last edited:
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
mathjak107
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 27, 2005
- Messages
- 6,205
i have been with fidelity for almost 30 years , had all kinds of consultations through the years and they never tried to sell me a thing . i have some money at vanguard too but prefer fidelity .
GolfingDuo
Recycles dryer sheets
Fine so moderators are GOD here. See you.
mathjak107
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 27, 2005
- Messages
- 6,205
none of my fidelity funds have loads , classes or 12b1 fees .
Fedup
Thinks s/he gets paid by the post
I've been with them longer than Vanguard. I went down to attend some seminar in person when I was in Boston in 1982. That was my impression of Fidelity. Not always correct. Also they made it hard to transfer to, if I remember correctly. After I closed the account, my main emotion from that experience is to never ever do business with Fidelity. They do have excellent customer service though, unlike Vanguard. At Vanguard, they seem to be running by the 3 stooges, and not for laughs either. I too swear to myself to never ever want to deal with Vanguard. But as long as I do things online without their customer support, I can live with it.
Last edited:
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
I'm no longer a moderator (note the "emeritus"). Guess that makes me a retired GOD.
LOL!
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 25, 2005
- Messages
- 10,252
I had a few thoughts which I hope you will not read, so these comments are for other folks.
1. This is the internet.
2. Posters here are not clients and there is no real need to try to keep posters happy. Sure, the owners of the web site make money from the advertisements and clicks, but they are not paying for content and moderators either.
3. The moderators and other members tend to offend every person at least once if not multiple times. Being offended is a rite of passage in life.
Last edited:
Well, this is now in the past. Perhaps we can get back on topic, which is
Vanguard Personal Advisor services.
Vanguard Personal Advisor services.
W2R
Moderator Emeritus
Good idea.
Personally, I think they are probably fine although I didn't use them. I am a great believer in "nobody cares about your money as much as you do". So, I was reluctant to depend on what any advisor might tell me.
Instead of getting an advisor, I read books and tried to educate myself about investing as best as I could. I found the Boglehead philosophies had great gut level appeal to me and just rang true (to me! not to everyone obviously). I discussed my plan over at the Bogleheads forum to get different viewpoints. Continued to read, since I had just discovered the Bogleheads book list which I really like. https://www.bogleheads.org/readbooks.htm
Then, devised and wrote my financial plan down since the books say that's the best idea. In fact, it was because I know what to do when the market starts gyrating/plunging/whatever. Following my plan and otherwise doing nothing seems to get me through most anything.
I am happy with my plan. It works and I really like it. From my point of view it seems perfectly tailored to me, my psychology, my financial situation, and my lifestyle.
Presently, I don't feel that I want or need an advisor. But if I did, the Vanguard service has a very good reputation AFAIK.
Last edited:
target2019
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
All understood by me.
$800 for a complete plan is fantastic, compared to what some have paid for a fee-only plan. And, if the plan is directing you to, or supporting your choice of, low-cost funds, all the better. Without seeing the plan, it is impossible to determine how comprehensive it is.
Most around this forum do not recommend robo or AUM advisors. Hence, not many can be found to support Ameriprise.
target2019
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Great idea!
One point I would want ot understand before signing an agreement, is what happens if I terminate the agreement.
For example, say the advisor company agreement has you in institutional funds. If you terminate the agreement, it is possible that you will need to liquidate all funds, establish a new account, and choose new investments.
I do not know the details of Vanguard PAS, but I would want to know all the terms before signing.
I am a very happy Vanguard customer. I'm reasonably knowledgeable regarding my allocations, short and long term financial needs, etc etc. Vanguard has been of tremendous help to me in those areas where I needed it, respectful of my position on certain aspects, and never tried a hard-sell on me for additional services.
As part of my follow-up discussion with them, they once offered that 0.3% service to assist with asset reallocations. But, that offer was germane to my discussion with them at that very point. I had mentioned my concerns for my wife in the event of my early passing on. When I said thanks but no thanks, that was the end of it, there was no further attempt to upsell this to me.
To each his/her own, I guess.
As part of my follow-up discussion with them, they once offered that 0.3% service to assist with asset reallocations. But, that offer was germane to my discussion with them at that very point. I had mentioned my concerns for my wife in the event of my early passing on. When I said thanks but no thanks, that was the end of it, there was no further attempt to upsell this to me.
To each his/her own, I guess.
