maddog
Confused about dryer sheets
This is my first posting. I have been reading for a while and there are a lot of informed folks here so I am hoping you can help in a decision I have to make.
I am on a 401k plan provider selection committee at my work. We are not happy with the current provider and have it narrowed down to two:
1. Fidelity =
a. Average 1% TOTAL fees
b. We are able to select up to 15 funds from all the Fidelity family (including ETF's) we can also select outside funds but this would more than likely result in a higher fee. Fidelity has a lot of great funds so we may not need to consider this.
c. Each employee would be responsible for their own fund selection and allocation within the 15 funds selected by the committee.
d. Minimum one on one advice on a quarterly basis for each employee as needed.
1. Wells Fargo =
a. Fee is 1% plus the fund charge itself. All funds are at the institutional no load amounts and no additional trading cost with no limits on the amount of buy/sell transactions.
b. Personal advisor would be an "Active Manger" of your account on a weekly/monthly basis. The larger your individual account amount the more active that advisor becomes on buy/sell recommendations. He is working on a straight 1% fee o the more he makes you and the less your losses on the down side the more he makes.
c. They include a full blown personal plan to establish life goals, risk tolerance, allocations, wills, insurances, etc
I always have been a long term investor so I am attracted to the 1% total from Fidelity but Wells Fargo made a really good presentation as to what they can offer with the active management of your account and the complete personal planning they provide.
Any thought and recommendations would be really helpful. Its a big decision and I want to make the right one.
I am on a 401k plan provider selection committee at my work. We are not happy with the current provider and have it narrowed down to two:
1. Fidelity =
a. Average 1% TOTAL fees
b. We are able to select up to 15 funds from all the Fidelity family (including ETF's) we can also select outside funds but this would more than likely result in a higher fee. Fidelity has a lot of great funds so we may not need to consider this.
c. Each employee would be responsible for their own fund selection and allocation within the 15 funds selected by the committee.
d. Minimum one on one advice on a quarterly basis for each employee as needed.
1. Wells Fargo =
a. Fee is 1% plus the fund charge itself. All funds are at the institutional no load amounts and no additional trading cost with no limits on the amount of buy/sell transactions.
b. Personal advisor would be an "Active Manger" of your account on a weekly/monthly basis. The larger your individual account amount the more active that advisor becomes on buy/sell recommendations. He is working on a straight 1% fee o the more he makes you and the less your losses on the down side the more he makes.
c. They include a full blown personal plan to establish life goals, risk tolerance, allocations, wills, insurances, etc
I always have been a long term investor so I am attracted to the 1% total from Fidelity but Wells Fargo made a really good presentation as to what they can offer with the active management of your account and the complete personal planning they provide.
Any thought and recommendations would be really helpful. Its a big decision and I want to make the right one.