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Posted: 8/24/2015 3:10:05 PM EDT
Any experiences with them?

Good, bad?
Link Posted: 8/24/2015 4:17:54 PM EDT
[#1]
They manage our 401k at work. They give out their card and you can meet with them 1 on 1. Although were able to manage our funds thru the paychex website sobi don't know how involved they are.
Link Posted: 8/24/2015 4:39:25 PM EDT
[#2]
the particular firm doesn't matter its all about the specific guy that will be advising you.
Link Posted: 8/24/2015 8:19:11 PM EDT
[#3]
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the particular firm doesn't matter its all about the specific guy that will be advising you.
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Agreed but I will add that all my relatives have been with them for many years and they have all been very successful, no complaints at all.  I have been out of the market forever and they tried to convince me to go with them a long time ago but I said no.  That has proved to be a HUGE mistake.  

So a while back I sent about 50K to the guy who works there that my family uses and sure enough, he turned it into 65K fairly quickly.  I have not looked at my balance from last Friday but I am very comfortable so far with them.  Wish I had done it 10-15 years ago.
Link Posted: 8/24/2015 11:06:29 PM EDT
[#4]
I used them when I was a kid.  My parents used them for more than 20 years.   The returns sucked.  Forbes had them listed as the worst large adviser firm for many years,  things changed and I haven't had money with them since 07, my parents since 2011.  Back then they took 5% upfront and the returns were at or below the market.  I was a kid and did what my parents did no questions asked.   One good thing about using them, it made me educate myself so that kind of stuff won't happen again.  Best of luck man.  If you want an adviser eval all the major ones and then ask yourself what do you need that they provide.
Link Posted: 8/25/2015 3:53:12 PM EDT
[#5]
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the particular firm doesn't matter its all about the specific guy that will be advising you.
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Yes and no.

Yes, the relationship is very important.  But, my experience is that the national chains (UBS, Fidelity, Edward Jones, Raymond James, Schwab, etc) push their reps to push certain funds/ETFs/products that they have relationships with, giving them more of a cut.  For example, you may want to invest in a particular Vanguard fund, or American Century, or whatever but your rep and Raymond James may not get as big of a piece of the action so will try to steer you to something else.  Not saying they won't let you, but they may tack on an additional fee, or price it higher than their preferred partners to make it less appealing.  And I was just using Vanguard and AC as an example.
Link Posted: 8/25/2015 4:54:36 PM EDT
[#6]
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Quoted:


Yes and no.

Yes, the relationship is very important.  But, my experience is that the national chains (UBS, Fidelity, Edward Jones, Raymond James, Schwab, etc) push their reps to push certain funds/ETFs/products that they have relationships with, giving them more of a cut.  For example, you may want to invest in a particular Vanguard fund, or American Century, or whatever but your rep and Raymond James may not get as big of a piece of the action so will try to steer you to something else.  Not saying they won't let you, but they may tack on an additional fee, or price it higher than their preferred partners to make it less appealing.  And I was just using Vanguard and AC as an example.
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Quoted:
Quoted:
the particular firm doesn't matter its all about the specific guy that will be advising you.


Yes and no.

Yes, the relationship is very important.  But, my experience is that the national chains (UBS, Fidelity, Edward Jones, Raymond James, Schwab, etc) push their reps to push certain funds/ETFs/products that they have relationships with, giving them more of a cut.  For example, you may want to invest in a particular Vanguard fund, or American Century, or whatever but your rep and Raymond James may not get as big of a piece of the action so will try to steer you to something else.  Not saying they won't let you, but they may tack on an additional fee, or price it higher than their preferred partners to make it less appealing.  And I was just using Vanguard and AC as an example.


I'm not sure if it's coincidence but my best friend and I both have edward jones in different states. One day he asked me what I had my 401k invested in (i've been dabbling since I was 10 in stocks but I haven't been active in 4 years) because his wasn't doing good and he thought I still kept up on that stuff.

I told him "fuck if I know, mine doesn't even beat inflation most years". He texted me a picture of his statement showing the different funds. He had 9 different funds with money in them. I had the same 9 with 1 other that I had just started.

As I said I don't keep up on that stuff anymore, my 401k is basically just my unemployment fund but I find it suspicious that ours matched that close.
Link Posted: 8/25/2015 6:19:32 PM EDT
[#7]
Yep because they have designated funds to use for mid, small, large cap, global, etc unless you specifically request certain funds. Their commissions are most likely higher on their picks and they most likely have goals to achieve of x amount of assets or x percent of assets in those "preferred" funds
Link Posted: 8/25/2015 6:51:59 PM EDT
[#8]

My experience at ameriprise was the same. the first advisor pushed oppenhimer and the second advisor pushed wells fargo.  They charged me 300 per year to "advise" me. when the first one quit the new guy said you don't need that and I stopped paying it.


If I were going to start over I would do one with low trade commissions and able to make trades online instead of having to call the advisor.  








Link Posted: 8/25/2015 11:46:43 PM EDT
[#9]
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the particular firm doesn't matter its all about the specific guy that will be advising you.
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Actually both matter very much so, some firms want reps to peddle crap and make them hit certain production numbers. Some firms don't have access to all the investments out there. Some advisors have no degree and worked as a bar tender before getting hired.
Link Posted: 8/26/2015 9:27:52 PM EDT
[#10]
Have a look at wealthfront....very low fees.
They manage the allocation over a few very low fee index funds.
They also do real good on taxes at the end of the year.
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