merlin3942
Recycles dryer sheets
- Joined
- Jun 9, 2014
- Messages
- 67
I have a question about using TIAA-CREF long-term for my retirement portfolio after retirement (which looks like Jan. 2016!!!). I've heard folks tout the merits of Vanguard, Fidelity, and Schwab for that purpose, but no one talks much about TIAA-CREF.
TIAA-CREF currently holds about 1/2 my retirement portfolio (through my employer). I spoke with one of their advisors last week, who told me that if I were to transfer all my "outside holdings" to their firm, they would be happy to help me decide on an AA plan, income producing strategy, etc, at no charge (I'd have to actually do all the work myself, but with their advice/oversight). The TIAA-CREF advisor looked at all my outside holdings, and said everything could be transferred "in kind" initially (don't have to sell anything unless/until I want to as part of the AA plan, re-balancing, etc). He did tell me that some of the funds from one account could transfer in and be held, but that I'd no longer be able to re-invest the dividends into that same fund. He also disclosed that there might be of fee of $9.99 to sell some of the ETF funds in the outside portfolio eventually, but I don't need to do that right away. He also said TIAA-CREF would reimburse me for any/all "closing account" fees that the outside firms might charge me.
All in all, it sounds like a good deal. I plan on managing the account myself going forward, but definitely need some help to set everything up initially. I've not had much luck finding an FA willing to do that on an "hourly rate" basis - everyone pushes their "managed account" option. TIAA-CREF will do that essentially for free (as long as they hold all the assets, and I suppose eventually will get paid out of buying/selling commissions).
I've had my primary retirement account with them for >35 years, so I'm comfortable with them. Just wondered if there's anything I'm overlooking, or should ask about, before I commit to transferring my outside investments (including some Traditional and ROTH IRA accounts) there?
TIAA-CREF currently holds about 1/2 my retirement portfolio (through my employer). I spoke with one of their advisors last week, who told me that if I were to transfer all my "outside holdings" to their firm, they would be happy to help me decide on an AA plan, income producing strategy, etc, at no charge (I'd have to actually do all the work myself, but with their advice/oversight). The TIAA-CREF advisor looked at all my outside holdings, and said everything could be transferred "in kind" initially (don't have to sell anything unless/until I want to as part of the AA plan, re-balancing, etc). He did tell me that some of the funds from one account could transfer in and be held, but that I'd no longer be able to re-invest the dividends into that same fund. He also disclosed that there might be of fee of $9.99 to sell some of the ETF funds in the outside portfolio eventually, but I don't need to do that right away. He also said TIAA-CREF would reimburse me for any/all "closing account" fees that the outside firms might charge me.
All in all, it sounds like a good deal. I plan on managing the account myself going forward, but definitely need some help to set everything up initially. I've not had much luck finding an FA willing to do that on an "hourly rate" basis - everyone pushes their "managed account" option. TIAA-CREF will do that essentially for free (as long as they hold all the assets, and I suppose eventually will get paid out of buying/selling commissions).
I've had my primary retirement account with them for >35 years, so I'm comfortable with them. Just wondered if there's anything I'm overlooking, or should ask about, before I commit to transferring my outside investments (including some Traditional and ROTH IRA accounts) there?