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nafddur1 06-18-2011 08:12 AM

FA recommendation
 
Being relatively new here, I'm not sure if it is appropriate to solicit recommendations for financial advisors. I'm 60, and retired - part time since 94, full time since 99. My spouse will be retiring within a few years. At that time, we will start using IRA's to supplement her pension and, of course, eventually SS.

I am currently with Ameriprise and investigating a possible switch. Like many others, I have become increasingly disappointed with the service Ameriprise provides, particularly considering the relatively large fees I pay. A lot of people appear to have switched (especially from Ameriprise) to Vanguard. If it is OK to ask for FA recommendations here, I'd be interested in talking to a Vanguard representative in SE MA - close to Plymouth would be ideal. Driving the 40 miles through Boston traffic to meet with my FA twice a year has always rubbed me the wrong way, especially considering that $800 annual advisor `fee' I get socked with in addition to the 1% I pay to manage my accounts.

Thanks in advance for any thoughts or contacts you might be able to provide?

REWahoo 06-18-2011 08:18 AM

Quote:

Originally Posted by nafddur1 (Post 1080903)
...especially considering that $800 annual advisor `fee' I get socked with in addition to the 1% I pay to manage my accounts.

Ouch! Insult on top of injury.

All my dealings with Vanguard have been by phone and online. I've never seen the need for face-to-face contact, but then I've always been the DIY type when it comes to investments.

nafddur1 06-18-2011 08:34 AM

Quote:

Originally Posted by REWahoo (Post 1080905)
Ouch! Insult on top of injury.

All my dealings with Vanguard have been by phone and online. I've never seen the need for face-to-face contact, but then I've always been the DIY type when it comes to investments.

Being not-so-much of a DIY'er with my retirement portfolio, I've never minded periodic personal contact. Though, for what it seems to be providing me (at least until we actually start living off our portfolio and will need to be more proactive), I've always thought a once a year personal visit would suffice. I've also gotten twice a year phone `consultations' (in between the 6 month face to face visits), but those too seem largely unnecessary. I think those are only to help justify that advisor fee. In fact, the latest touching base phone call was assigned to a new `kid' in the office - someone I had never met or heard of, even though I've been involved with this office for over 20 years. MY FA was apparently too busy to make that call himself. Another adding insult to injury, as you put it, REW.

Bestwifeever 06-18-2011 08:41 AM

Several threads about leaving Ameriprise, including this one: https://www.early-retirement.org/foru...elf-51548.html which describes the Ameriprise untangling one of the members here went through.

As REW touched on, Vanguard doesn't have physical offices to visit if that is important to you. Fidelity, Schwab, and T. Rowe Price (also often mentioned on these boards, among others) do have investment centers but you'll have to check if they are convenient.

travelover 06-18-2011 09:20 AM

I am a do-it-yourselfer, but when I need hand holding I use the local Fidelity office. I don't let them sell me anything and use their Spartan funds and iShare ETFs. If you need more help, I'd look for a fee only adviser - search here or on Bogleheads for specifics.


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