My husband and I have been using a FP via ameriprise and we were very happy with her and the results. Then he accepted a job with a large financial services company that starts with "F". The terms of his employment were that we have to move all of our money inside that company and trade from there (insider trading concerns).
So as an employee we qualify for totally free services, including that we can buy any funds we want with no loads or exit fees, no transaction fees, etc. Even Vanguard funds. LOL
They had a team of advisors put a proposal together for us. (we have in excess of 1.5M with everything included) And it is TERRIBLE! 28 funds! 65% in Large growth or value. And if you really want a laugh look at these awful funds they included
OAKMX, MFOCX, SBLGX, USGLX, PCRRX, MIQBX, CIVVX
We are both shocked.
So we will be doing it ourselves, many of you will be happy to hear that. ;-)
I have been looking at various sample portfolios so will work from there and post something for all of you to look at and comment.
Why would they recommend such bad funds? Incompetence or something else?
So as an employee we qualify for totally free services, including that we can buy any funds we want with no loads or exit fees, no transaction fees, etc. Even Vanguard funds. LOL
They had a team of advisors put a proposal together for us. (we have in excess of 1.5M with everything included) And it is TERRIBLE! 28 funds! 65% in Large growth or value. And if you really want a laugh look at these awful funds they included
OAKMX, MFOCX, SBLGX, USGLX, PCRRX, MIQBX, CIVVX
We are both shocked.
So we will be doing it ourselves, many of you will be happy to hear that. ;-)
I have been looking at various sample portfolios so will work from there and post something for all of you to look at and comment.
Why would they recommend such bad funds? Incompetence or something else?