Hi,
I inherited a retirement IRA a few years ago and had it set up with a bank, the financial advisor left at the bank where i moved it to, and someone recommended Ameriprise. I am not good with knowing what types of fees are charged,, so any help I can get on here will be greatly appreciated. I did not put all of my money with ameriprise, even though the advisor wanted me to, but they have roughly 150k since last November. ( I called for the amount toay) 100 in a 10 year annuity, 40 in some industrial thing and 15k (which was sitting in limbo from a fixed account at the bank and he moved it to ameriprise. Anyway, I do not seem to be making money, The advisor at ameriprise received 600.00 in a signing check from me at signing last year. I was told by the other advisor at the first bank I had the money, that since taxes were not paid on the inherited accounts, the Irs wants me to take them out within 5 years of inheriting them. The advisor at ameriprise said that is not the case and I foolishly put 100k in with riversourse. I want to take all my money out of ameriprise as I do not feel it is making anything, I am exactly where I was a few years ago except for a fixed account ( which he wanted tranferred to ameriprise and I refused. ) That is the only thing that has made me money and a savings account. I can't even tell what type of fees ameriprise takes out, but my gut feeling is this is a losing situation. My paperwork states an early termintation is almost 10 grand of the riversourse, but I am not sure what else they will take from the others. Can anyone refer a company to use? I am willing to lose the 10 grand for the riversourse just to get rid of them now. Thank you so much, sorry for being ignorant, but I just don't know about these things as I should.
I inherited a retirement IRA a few years ago and had it set up with a bank, the financial advisor left at the bank where i moved it to, and someone recommended Ameriprise. I am not good with knowing what types of fees are charged,, so any help I can get on here will be greatly appreciated. I did not put all of my money with ameriprise, even though the advisor wanted me to, but they have roughly 150k since last November. ( I called for the amount toay) 100 in a 10 year annuity, 40 in some industrial thing and 15k (which was sitting in limbo from a fixed account at the bank and he moved it to ameriprise. Anyway, I do not seem to be making money, The advisor at ameriprise received 600.00 in a signing check from me at signing last year. I was told by the other advisor at the first bank I had the money, that since taxes were not paid on the inherited accounts, the Irs wants me to take them out within 5 years of inheriting them. The advisor at ameriprise said that is not the case and I foolishly put 100k in with riversourse. I want to take all my money out of ameriprise as I do not feel it is making anything, I am exactly where I was a few years ago except for a fixed account ( which he wanted tranferred to ameriprise and I refused. ) That is the only thing that has made me money and a savings account. I can't even tell what type of fees ameriprise takes out, but my gut feeling is this is a losing situation. My paperwork states an early termintation is almost 10 grand of the riversourse, but I am not sure what else they will take from the others. Can anyone refer a company to use? I am willing to lose the 10 grand for the riversourse just to get rid of them now. Thank you so much, sorry for being ignorant, but I just don't know about these things as I should.
