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Replies: 36
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Walk-On [119]
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Investment Firms
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Feb 3, 2024, 10:28 AM
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Who is the best investment firms?
Looking to roll over a 401k. Thanks
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Heisman Winner [134660]
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I like Fidelity***
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Feb 3, 2024, 10:30 AM
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Legend [17782]
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Stratton Oakmont***
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Feb 3, 2024, 10:38 AM
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All-American [560]
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Re: Stratton Oakmont***
Feb 8, 2024, 3:11 AM
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^^^^This 1111^^^^^
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All-In [40100]
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Vanguard
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Feb 3, 2024, 10:42 AM
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Has some of the best fees especially index funds. Fidelity and Vanguard are essentially a wash both are great.
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Team Captain [490]
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Re: Vanguard
Feb 10, 2024, 11:07 PM
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Has some of the best fees especially index funds. Fidelity and Vanguard are essentially a wash both are great.
In the last 2 years, Vanguard service has fallen off a cliff. I think it's just another example of corporate greed by upper mgmt, resulting in overworked and poorly-trained customer service reps. We had several conversations wherein the reps promised they would make account profile changes, and then did not. (We found this by checking after them, after 15 days, multiple times.)
Moved my retirement funds out of Vanguard.
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All-American [594]
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Re: Investment Firms
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Feb 3, 2024, 10:45 AM
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There are local offices of Morgan Stanley in most all cities, including Greenville, Spartanburg, and Anderson. We are the best full-service investment firm in my opinion, but I'm biased since I've been at the one in Spartanburg for over 31 years.
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CU Guru [1019]
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Re: Investment Firms
Feb 23, 2021, 9:46 AM
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And you are mine and an excellent one! 😎
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110%er [5063]
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Re: Investment Firms
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Feb 3, 2024, 11:39 AM
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As an investment adviser, I am biased!
Some advice: Most will tell you to go with fee based business. I can do both, but generally stay with commission based. The reason? It is better for the client. Go to fee based, and they can select the fee they charge. Depending on the amount you invest (they charge more for smaller accounts), this fee can be higher than 1% up front. But they also charge you the same percentage every year there after! With a commission account, you are charged a % set by the fund, not the agent. For small purchases, it can be as high as 5%. For large purchases (over $100 k) it is 3%. With even larger purchases, it drops down to as little as the original 1% of the fee based example. But the kicker is that in commission based, you are usually charged 0.25% each year after that! Doing the math, it is easy to see that in the long term, commission based is better for the client.
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110%er [5454]
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Assuming you have an advisor that isnt churning the account.
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Feb 7, 2024, 8:44 AM
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Which at that point probably means the investor should just go into a no load fund to save on expenses. Just pay the low internal expense ratios with Fidelity, Vanguard, etc.
Advisors are rarely useful for investment advice (e.g. they don’t beat the market). People should put in a little effort to determine their risk tolerance and asset allocation. Advisors would be recommended for financial/estate planning for high net worth clientele.
Bottom line, the majority of people do NOT require a financial advisor and are just leaving money on the table because they don’t have the confidence to put in just a mediocre amount of effort.
Source: I used to be a registered rep but left the business because I couldn’t take the hypocrisy of selling individuals on financial services that they didn’t need.
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110%er [5063]
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Re: Assuming you have an advisor that isnt churning the account.
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Feb 7, 2024, 2:05 PM
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If you were selling people financial services that your clients did not need, then it is good that you left the business! It sounds like you were a captive agent...that is what happens when you sell your soul! Some of us saw that being a captive agent was wrong, and left that controlled environment and set out on our own. I honor my fiduciary responsibility and do what is best for my clients. And I have a very good record vs the indexes. As to beating the "market" that is generally not possible when the person is retired! If you have retirees and are trying to best the Dow or S&P 500, you are not doing right by your clients!
And I have never churned any accounts. For those who may not know, it appears that "stud" was told to come back every few years to move the clients money so new commission could be generated!
Keep in mind...if financial advisers are as much of a hindrance that you say, why are there so many of them around? Don't project your lack of success onto the rest of us!
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110%er [5454]
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Besides the fact that you made an insane amount of false assumptions
Feb 7, 2024, 10:33 PM
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about me in your post that I’m not going to entertain replying to, nothing that I said in my original post was incorrect.
I’ve previously answered your lone question; but to summarize for your condescending pleasure, it’s people’s lack of confidence. Most think they need investment advice…what they actually need is wealth management; and wealth management is rarely needed by anyone but the rich.
Next time go and patronize someone who can’t think for himself. And hey, maybe you can turn him into a client.
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Freshman [7]
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Re: Assuming you have an advisor that isnt churning the account.
Feb 8, 2024, 10:00 AM
[ in reply to Re: Assuming you have an advisor that isnt churning the account. ] |
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If you aren't beating the Dow for your retired clients, what the heck are you doing for them? Just an FYI, I've been retired 13 years and I've beaten the Dow over that time by about 50 bps. That trails the S&P, however you have you have to remember that I've been taking 8-12% a year in distributions which are basically assets out of the investable market. Returns would have been much higher with those assets invested.
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110%er [5063]
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Re: Assuming you have an advisor that isnt churning the account.
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Feb 10, 2024, 11:01 AM
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Fiduciary responsibility. Most of my retirees have less than $300,000 with me. If I went too heavy in the markets, they could lose too much, and not have enough time to make it back due to their age. If I were to beat the Dow every year with retirees, when the markets lost, they would lose. I do not want to explain to a retiree that the Dow lost 25%, but they only lost 10%! That would be too high of a loss for them to sustain (even though they "beat the Dow"). Most are happy to get a return of 8-9% a year with no losses, at that age. Most of my clients that are young, made over 70% the two last years of Trump.
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Freshman [7]
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Re: Assuming you have an advisor that isnt churning the account.
Feb 10, 2024, 11:36 PM
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I understand what you are doing for your clients, I've seen it a lot. I do agree that it's a bit more difficult to do a good portfolio with less than $300k. That does limit what you can do. Still it can be done with a relatively low risk portfolio. When is the last a 3 year annualized return of the DOW had a negative return?
Also, what's trump have to do with anything? I remember in 2000 sitting in an investment meeting (I worked for one of the top small cap value institutional managers in the US) and our analyst that covered real estate investors completed a presentation about where we should put money in this area and his final words were "what ever we do, avoid anything associated with a guy named Donald Trump, he's a crook, liar and he doesn't pay his employees if he can get away with it".
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110%er [5063]
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Re: Assuming you have an advisor that isnt churning the account.
Feb 11, 2024, 4:57 PM
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The whole Idea, and what I wrote is that I need to avoid ANY year with a loss. We know the Dow had a big loss in 2020. Many retirees that see a 20+% drop in their savings, either make you go safer (because they can't lose any more, regardless what you say), or move their money somewhere else, forcing the losses to be counted on my guidance (which effects all of their friends opinion of my job)! Where the Dow has made a yearly average of about 9 percent since the beginning of 2020 to now, my retirees have gotten close to that without any losses, and no lost clients. I would take that all life long!
The reason that I used the last two years of Trump, was simply because I remember the time period, but not the years. The last two years before covid were great years for all markets. Those are facts, and have nothing to do with politics, other than the fact that Trump did place the tariffs on China and other countries, which brought manufacturing jobs back to America (which Obama said could never happen again).
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Freshman [7]
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Re: Assuming you have an advisor that isnt churning the account.
Feb 14, 2024, 5:49 PM
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My clients typically had a minimum of a $100 million in the market. We typically managed 5-10% of their assets. Our annualized 20 year net return was 12.6%. We worked in the small cap value asset class. We were value/contrarians. At the peak we were managing $2.4 billion with 10 employees and we were doing all of our own research. We had a very well educated team, everyone had at least one post graduate degree and all but one analyst had a CFA. He was relatively new and completed his CFA 2 years after I retired.
Since retiring 13 years ago, I've used those basic fundamentals applied to large caps for my own portfolio, it's worked quite well. Very low turnover, very low risk profile.
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Orange Blooded [2275]
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Re: Investment Firms
Feb 10, 2024, 11:40 AM
[ in reply to Re: Investment Firms ] |
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I am just curious what some of you think of Stash, Robinhood, Acorn? I have friends that love these platforms but I am not sure how safe they are to invest.
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Commissioner [921]
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Re: Investment Firms
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Feb 3, 2024, 11:43 AM
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I have 8 years experience at one of the large investment companies and here's my advice.
Find someone you like. Find someone you trust. Forget about the firm name.
I have friends at Edward Jones, Raymond James, Merrill Lynch, UBS and some independent firms. We're all pretty dang similar.
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Orange Blooded [2055]
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Re: Investment Firms
Feb 7, 2024, 8:54 AM
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Brokers are not fiduciaries.
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Orange Blooded [3901]
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Re: Investment Firms
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Feb 3, 2024, 12:03 PM
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Who is the best investment firms?
Looking to roll over a 401k. Thanks
Look up Evan Price with Edward Jones in Anderson. He is a great guy and a Clemson graduate.
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110%er [5677]
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Re: Investment Firms
Feb 3, 2024, 1:56 PM
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Any firm or person that will let you blackball "Black Rock"...
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CU Guru [1760]
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Re: Investment Firms
Feb 3, 2024, 2:10 PM
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just rolled over a 401k to a vanguard rollover IRA. super easy. you can photo the check using your phone on their app.
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Hall of Famer [21614]
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Freshman [7]
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Re: Investment Firms
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Feb 7, 2024, 6:43 AM
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I'm retired from an institutional investment firm, I use Charles Schwab and they do a good job for me. Most of the major firms, Fidelity, Vanguard, etc will probably do a decent job for you. It really depends on what kind of help you need with your investments. I manage all of my investments, stock selection, asset allocation, risk management, etc. So I don't use an advisor other than as a source for research. However, if you need help in this area, get a referral, get someone who's been in the business for a long time, get someone you can trust. Look for someone with a CFA, CPA or possibly a CFP after their name, they should be better than a rookie.
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CU Guru [1462]
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Re: Investment Firms
Feb 7, 2024, 8:22 AM
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Fidelity. Their customer service is outstanding.
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Orange Blooded [2055]
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Re: Investment Firms
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Feb 7, 2024, 8:52 AM
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Not financial advice>>>>insurance is NOT an "investment".
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Standout [316]
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Have enjoyed Ameriprise for years...
Feb 7, 2024, 8:56 AM
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But I have built a relationship with my planners and trust they know what they are doing. Positive results annually so they back it up. Like another poster, I think it's about where you feel comfortable placing your trust and finances.
Names aren't that important unless of course you are Stratton Oakmont.
The world of investing can be a jungle. Bulls. Bears. Danger at every turn. That's why we at Stratton Oakmont pride ourselves on being the best. Trained professionals to guide you through the financial wilderness. Stratton Oakmont. Stability. Integrity. Pride.
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Standout [316]
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Re: Investment Firms
Feb 7, 2024, 9:00 AM
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I'll also add... I'm also self employed with multiple companies. I invest heavily in real estate but I leave the financial planning to Ameriprise in coordination with my CPA and bookkeeper. So it may also depend on your situation. If I don't set money aside for retirement, education, etc, I wouldn't have any other way to do it and I don't need to try investing in mutual funds myself. I am aware of my areas of expertise and I don't consider paying a good financial planner to manage those accounts.
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Standout [316]
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Re: Investment Firms
Feb 7, 2024, 9:02 AM
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Don't mind paying a good financial planner to manage those accounts.
*Price is what you pay values what you get.
*If you think hiring a professional is expensive wait until you hire an amateur.
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All-TigerNet [10640]
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Re: Investment Firms
Feb 7, 2024, 9:12 AM
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I use a financial planner that I pay a percentage of my portfolio. He uses Charles Schwab as our trading platform and I do not pay for and stock trades as they are included in the fee. I told him when I started with him that I never wanted to buy any products ..... insurance, annuities, etc. I merely wanted him to manage my retirement account. He does an excellent job and working with Schwab he is able to keep track of the trends and continually balances my portfolio.
If I felt like I did not need an advisor, I probably would just buy a couple of different index funds and not worry too much about buying and selling individual stocks.
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Starter [356]
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Re: Investment Firms
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Feb 7, 2024, 9:27 AM
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I use Charles Schwab for an IRA that was a rollover from my 401K when I was laid off years ago and my personal savings. They will walk you through the simple paperwork. Plenty of research available, trades are free, and I enjoy managing my own investments.
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Legend [19933]
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Get yourself a piece of The Rock
Feb 7, 2024, 2:11 PM
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Prudential
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Varsity [215]
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Re: Get yourself a piece of The Rock
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Feb 7, 2024, 6:42 PM
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I've always handled our investments myself (wife & I) but did use online stock broker (Quick & Reilly) as a flat fee buy/sell agent. All I needed from Q&R was their platform for data and research. Never talked to a human at Q&R. Being self employed I could put in funds each year (15%) of my gross salary and I could match that. Don't know how that works today. Helll I turned 76 yesterday..
The years roll buy and I had just sold some stock shares and had $$$ in cash account. My research led me to Google and their IPO. Finally got in for 1,000 shares at $88.50 (I think less than 90). Rode GOOG for a several years and sold all at $605.00/sh) Nice return. All in tax defered account. Oh, after 72.5 YO the IRS comes calling.. Fine with me'
For years I had owned shares in DOW Chemical. The had VERY high dividends and P/E was moderate (24). Stock got high and I sold at around $55/sh and moved on.
Many years later I saw Dow chemical trading at less the $10/sh WTH.. My research told me to load the wagon, I did. Years later I sold my 10,000 share for $42/sh . Nice return.
These 2 buy/sell trades I did myself at a cost of about $9.00/each. Why pay some person money when you can do it yourself. I made over $1,000,000 on GOOG and DOW tax deferred.
I don't trade anymore. All our cash in CDs (Edward Jones) and dirt. Got lots of dirt.
WT
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Head Coach [768]
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Re: Investment Firms
Feb 10, 2024, 4:26 PM
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Don't use the one working with FSU...they don't know the definition of contract!
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Starter [388]
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Re: Investment Firms
Feb 10, 2024, 11:17 PM
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Do it yourself. Choose an online broker and make your own investments.
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110%er [6139]
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S&P 500 index?***
Feb 11, 2024, 5:24 PM
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Replies: 36
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