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Starting an IRA on your own vs through a financial advisor
Posted on 12/28/13 at 8:59 am
Posted on 12/28/13 at 8:59 am
I'd like to set up a SEP IRA through my business. I can go to Scotttrade on Citiplace here in BR and give them a check and they told me it would be available to invest in 2-4 hours after. There may be a $17 load charge. If I were to go to a financial advisor here in town, what do they typically charge? And is it on the front end or back end, or both? I know that's a vague question bc different advisors probably charge differently, but just trying to get an idea of what to expect.
2
Posted on 12/28/13 at 9:36 am to BullredsRus
My step dad has one through Vanguard. Said he likes it, I'll ask him about fees. It's a SEP he has also.
Posted on 12/28/13 at 10:41 am to windshieldman
vanguard do it yourself
Posted on 12/28/13 at 11:18 am to tigersmanager
quote:
vanguard do it yourself
Posted on 12/28/13 at 6:51 pm to jimbeam
Ameritrade has all of mine. No fees.
Posted on 12/28/13 at 7:04 pm to BullredsRus
A financial advisor would likely charge you 1-2% on top of whatever management fees you pay on the funds. I would suggest going scottrade or vanguard, they'll both have access to plenty of no-load funds.
Posted on 12/28/13 at 7:40 pm to Chris Farley
No respectable advisor will charge you 1-2% management fee and also charge you loads. I am not even sure if that is legal.
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