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re: How much should I pay a fund manager?
Posted on 1/25/13 at 2:33 pm to Janky
Posted on 1/25/13 at 2:33 pm to Janky
He works for Iberia bank. But deals a lot with franklin so he is familiar with it. He sat down with me to gage how aggressive/conservative i wanted to be. Showed me several mutual funds and which ones he really doesnt advise and which ones he likes.
There is a yearly 1.3% (2 others with similar percent) yearly service charge fees. And that's it. No commission. No back end. Etc.
Anything else to watch out for?
Thanks again.
There is a yearly 1.3% (2 others with similar percent) yearly service charge fees. And that's it. No commission. No back end. Etc.
Anything else to watch out for?
Thanks again.
This post was edited on 1/25/13 at 2:35 pm
Posted on 1/25/13 at 2:40 pm to LSUTigers00884
quote:
There is a yearly 1.3% (2 others with similar percent) yearly service charge fees. And that's it. No commission. No back end. Etc.
Sounds like C shares. And if you get out in the first year, there is a back end probably. And there is a commission. You just don't see it.
Posted on 1/25/13 at 2:40 pm to LSUTigers00884
So, he wants to put you into a bunch of c share funds? I would like to know which ones he advises in particular. Either way. Good luck.
Posted on 1/25/13 at 4:28 pm to LSUTigers00884
quote:
There is a yearly 1.3% (2 others with similar percent) yearly service charge fees.
Did you expect no annual fees? After what was discussed in this thread? If you want to pay that go for it. Entirely up to you.
quote:
And that's it. No commission. No back end. Etc.
LINK
LINK
quote:
Class C funds are mutual funds whose loads are paid annually as long as the fund is held. They may look like No-Load funds because there is no fee on the front end or back end(depending on time held), but the load is there in the annual fees. Class C funds can't be converted to the other classes.
If that is what you want, knock yourself out.
I'd suggest starting to educate yourself on investing. trust me, you do not have to be a rocket scientist to pick some mutual funds and manage them yourself. It is not as hard as "broke" makes it out to be.
I'm sure if things fall through "broke" will definitely hook you up. There could be a reason he is nicknamed "broke". he might break his clients.
This post was edited on 1/25/13 at 4:56 pm
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