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| How much should I pay a fund manager? Posted by LSUTigers00884 Talking to a fund manager at my bank (Iberia). How much should I expect to pay him for managing my mutual funds?  on 1/22 at 11:49 pmShould I pay him to open an IRA account? What about should I pay him for opening Bonds, etc.? I am meeting with one soon and am new to investing. I want to start young. Thanks. Reply • Back to Top |
Congrats on beginning your investing career young, wish I had started ten years earlier. Be very careful with bank financial managers, a lot of times you're just talking to a salesman, not an investing professional who will teach you. Always better to meet with a couple of investing professionals before buying anything, find one you are comfortable with that has the heart of a teacher. As far as your questions go? quote: Unless he's a Fee Only Adviser, Nothing, he's not managing any funds. You may pay a front end sales charge or "front load" when purchase shares, or when you sell shares "back load". But other than that, you don't pay him anything. quote: No, as long as you have the minimum initial investment, this shouldn't cost you anything or maybe a small service fee. quote: Have no idea how to "open a bond" lol. You pay a broker fee when buying stocks, bonds, etc. Have no idea what your bank charges for this. I'd not recommend single bond or single stock purchase for beginning investors. Get your feet wet with index/ mutual funds and ETF's first before jumping into the shark tank. Reply • Back to Top |
quote: You aren't talking to a fund manager. You are talking to a financial consultant, investment rep, etc. I don't find bank FA's to be very good at what they do. You will pay a yearly IRA fee of around $75. You will pay a commission on the bonds and probably a front end load on the mutual funds. Reply • Back to Top |
| Thanks guys. Any other thoughts? Reply • Back to Top |
Oh yeah, independent(s) are the most astute advisors out there.  Once again, depends on the advisor and the firm. They have good and bad everywhere. Definitely go with someone or institution that is reputable. Reply • Back to Top |
quote: It's my opinion. Nor do they stick around long. Reply • Back to Top |
quote: They normally move on to an independent where their payout is better. Reply • Back to Top |
quote:  Reply • Back to Top |
| Broke, Are you an independent? How hard is it to make transition? Reply • Back to Top |
quote: With those boobs? It's very hard Reply • Back to Top |
quote: Not as hard as your existing B/D makes you think it is. You'll lose some clients but I kept about 90% Reply • Back to Top |
Posted by LSU9102 on 1/24 at 10:15 am to Vols&Shaft83 Trudat! Anybody make transition from captive to independent? Reply • Back to Top |
quote: What do you mean by captive? I went from a large B/D to indy. Reply • Back to Top |
| Captive is when you don't own the book your company does. Reply • Back to Top |
quote: Ok, well I did that then. But that fricking book was mine. Nobody worked for that book but me. So I took it with me. And was promptly sued.  Reply • Back to Top |
| ZERO Reply • Back to Top |
quote: which is ridiculous and why he needs to open a ROTH IRA with vanguard. quote: yep, yet another reason why not do to this. Reply • Back to Top |
quote: Listen to this Fat Bastard, he's very wise. Reply • Back to Top |
quote: I own a black and decker drill. Gonna do my own dental work from now on too. I watch Judge Judy, gonna do my own litigation. Moron. Reply • Back to Top |
quote: Porter-cable is the way to go. It is cheaper and has performed better. It only has two attachments, but that doesn't matter. Over time it will work itself out. Reply • Back to Top • Refresh |
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