It should not be an annual fee if it a planning fee as your situation will not change enough over a year to revise the plan. Plan revisions should only take place when something material changes and should not be the full price because alot work is already done.

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Posted by reb13

Member since May 2010

10905 posts

Posted on 7/17/14 at 11:01 pm to KABoss02

quote:
Did you not read anything else posted and just reply with a smart arse comment?

I mean most 401k plans have at most 20ish offerings, I mean I'm sure some guy at Ameriprise financial isn't going to squeeze out his fee in increase from what the casual American can do by putting it in target funds. I mean I "manage" my moms 401k and I beat the market and I do small, mid, and large cap and bonds. WOW that was hard.

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Posted by ram03reg

Member since Sep 2009

198 posts

Posted on 7/18/14 at 12:24 pm to KABoss02

Some advisors charge for plans..some don't. We don't because our clients are long term/high net worth. If someone was just wanting a plan then we would charge.

Ameriprise is an okay firm...their advisors only use A shares and have relationships with mutual fund manufactures . They will tend to push these funds more because they get bonuses based on this..lookout if he pushes riversource products.

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Posted by KABoss02

Dallas

Member since Jul 2009

1362 posts

Posted on 7/18/14 at 3:07 pm to reb13

quote:
mean most 401k plans have at most 20ish offerings, I mean I'm sure some guy at Ameriprise financial isn't going to squeeze out his fee in increase from what the casual American can do by putting it in target funds. I mean I "manage" my moms 401k and I beat the market and I do small, mid, and large cap and bonds. WOW that was hard.

my point is that if all I am going to be doing is managing a 401(k), then yes, paying someone to do that would be pointless. WOW, that WAS hard....

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