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Old 05-21-2016, 12:58 PM   #61
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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.
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Old 05-21-2016, 03:25 PM   #62
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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.

This is absolutely not true. All of those companies have A B and C share funds. A shares are frontend loaded. Those are funds that should be held for more than 5 years. After 5 years A shares cost less to own than C shares. C shares are not front loaded and probably most of you people are investing in those types of funds.

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.


I do not get charged either. There is a commission when you buy shares in your mutual funds. There are 12b1 fees to manage those funds. If you think those companies are not then you might want to take a look at them. As for having my hand held this is again why I dislike asking for advice here. If I were an investor and wanted to day trade I think I would ask you but since I am not day trading I would prefer to work with someone I know.


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.

And your point is?

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.

It is not her hard earned money. It is mine. I am gifting it to her.

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.
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Old 05-21-2016, 03:29 PM   #63
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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 .
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Old 05-21-2016, 03:40 PM   #64
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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.
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Old 05-21-2016, 03:46 PM   #65
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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 look spectacular but not when invest in them. I think must be high fees.
But I'm stuck with Vanguard .
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 .
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Old 05-21-2016, 03:49 PM   #66
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Fine so moderators are GOD here. See you.
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Old 05-21-2016, 03:50 PM   #67
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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.
none of my fidelity funds have loads , classes or 12b1 fees .
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Old 05-21-2016, 03:52 PM   #68
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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 .
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.
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Old 05-21-2016, 03:54 PM   #69
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Fine so moderators are GOD here. See you.
I'm no longer a moderator (note the "emeritus"). Guess that makes me a retired GOD.
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Old 05-21-2016, 03:55 PM   #70
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Fine so moderators are GOD here. See you.
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.
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Old 05-21-2016, 04:01 PM   #71
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Well, this is now in the past. Perhaps we can get back on topic, which is
Vanguard Personal Advisor services.
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Old 05-21-2016, 04:24 PM   #72
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Well, this is now in the past. Perhaps we can get back on topic, which is
Vanguard Personal Advisor services.
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.
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Old 05-21-2016, 04:35 PM   #73
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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.
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.
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Old 05-21-2016, 04:47 PM   #74
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Well, this is now in the past. Perhaps we can get back on topic, which is Vanguard Personal Advisor services.
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.
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Old 05-21-2016, 06:08 PM   #75
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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.
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Old 05-22-2016, 09:23 AM   #76
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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.
Another option I didn't see mentioned was with a low fee wealth mgmt firm such as betterment or wealthfront. Any of these choices (including Vanguard FA) would be better than going with the firms that fee you to death.

I think a bigger problem with a substantial portfolio is transitioning to a managed setup without incurring a lot of taxes. I guess you'd have to do it over time, which could be years.
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Old 05-22-2016, 09:31 AM   #77
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Any of these choices (including Vanguard or Fidelity FA) .
I reviewed two proposals from Fidelity for family members. While there were no 12B1 fees or loads, some of the funds were expensive. These were all active funds, no index funds or ETF'S. The non-Fidelity funds had 1.5% - 2% fees. Both proposals featured a collection of ~25 funds from many fund families. YMMV
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Old 05-22-2016, 10:58 AM   #78
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It would be interesting to see how the managed Vanguard account advice compared to the Financial Engines recommendations. I've used the Financial Engines offering on Vanguard and played a bit with the risk scenarios and re-allocation advice and, not surprisingly, it comes up with a heavier tilt to the Vanguard index funds (no real argument from me) and moving more money into international funds.

I've done similar explorations within my Schwab and T-Rowe Price accounts and they don't differ too widely in their general asset allocation strategies but more in which company funds they recommend. No surprise there. In the end my real question would be how different would the advice be from the "active" Vanguard advisers versus using some of the tools that they offer?
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