- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Just Transferred $ from Vanguard to Ameriprise..
Posted on 3/13/14 at 3:59 pm
Posted on 3/13/14 at 3:59 pm
Our advisor is with Ameriprise Financial. We transferred $12,500 from a Vanguard target retirement fund to Ameriprise. The $ is still in that fund (though now at Ameriprise) and we're meeting with the advisor in a few weeks to talk about reallocation. I'm not a fan of target retirement funds due to high fees and "autopilot" factor. Any suggestions? It's my wife's $ and she's 37 with about a 20 year time horizon. Appetite for risk is moderate aggresstive. Also, she just started a Roth IRA @ $250 per month. Once that account reaches $1,000, we can purchase investments. What would you recommend for that? We're partial to Vanguard funds, but any suggestions would be greatly appreciated. Thanks!
8
Posted on 3/13/14 at 4:02 pm to FlowMaster
Just out of curiosity, why would you pull out of Vanguard if you like their funds? The expense ratios are nil
I pay .05 on two funds and .17 on another two.
I pay .05 on two funds and .17 on another two.
Posted on 3/13/14 at 4:08 pm to Lsut81
quote:
Just out of curiosity, why would you pull out of Vanguard if you like their funds? The expense ratios are nil
Not only that, he may also incur some brokerage fees while purchasing some of their assets as well, now that he is out of their umbrella.
Seems illogical.
This post was edited on 3/13/14 at 4:09 pm
Posted on 3/13/14 at 4:28 pm to FlowMaster
Ameriprise doesn't have a stellar rep and are not low cost. If the fund was transferred from Vanguard, that does not make good financial sense to me, if it was with another brokerage firm that might be a different story. Target date funds are good for those that don't want to deal with spending a lot of time dealing with their holdings. Target date funds rebalance to its stated target holdings which takes that process off the investor, but you still have to determine what level of risk exposure you desire and match the proper TD fund. It is true that some TD funds can have slightly higher cost being funds of funds and not allowing investors the lowest cost version of the independent funds, Vanguard's highest cost is .16%, which is cheap.
Compare the true cost of what Ameriprise is going to charge compared to self directed with lower cost shops and you will find significant differences.
My wife is sending me to a meeting with the company that took over her employers' retirement plan last September to grill them on the stable value fund that replaced the prior plan fund. It is going to be fun because they have purposely made the offering as opaque as possible when her employer frowns heavily on that kind of shite. The moral is don't get jerked around, read the fine print and ask questions. Ask the Ameriprise rep if he/she has a fiduciary responsibility to you and your spouse.
Compare the true cost of what Ameriprise is going to charge compared to self directed with lower cost shops and you will find significant differences.
My wife is sending me to a meeting with the company that took over her employers' retirement plan last September to grill them on the stable value fund that replaced the prior plan fund. It is going to be fun because they have purposely made the offering as opaque as possible when her employer frowns heavily on that kind of shite. The moral is don't get jerked around, read the fine print and ask questions. Ask the Ameriprise rep if he/she has a fiduciary responsibility to you and your spouse.
Posted on 3/13/14 at 6:54 pm to FlowMaster
quote:Curious why you don't like the autopilot feature.
I'm not a fan of target retirement funds due to high fees and "autopilot" factor.
Posted on 3/14/14 at 12:15 am to FlowMaster
1/2 in Vanguard 500.
1/2 in Vanguard Health Care.
Stay aggressive since 20 year timeframe.
1/2 in Vanguard Health Care.
Stay aggressive since 20 year timeframe.
Posted on 3/14/14 at 6:27 am to tirebiter
They replaced the cash account? Why and with what?
Posted on 3/14/14 at 10:40 am to Janky
quote:
They replaced the cash account? Why and with what?
No,not cash or money market. The original stable value fund which provided info on the fund + quarterly yield was replaced with a stable value fund wherein fees are assessed but the yield of the account is never posted plus an annuity with a multi year lockup/transitional period was placed upon those who had invested their funds in a fixed annuity with the prior provider. These clowns have yet to provide info on the yield of either. The prior provider allowed exchanges to any other investment in the plan, the new one does not, and the people in the prior annuity are locked into 2017. She had some funds in the prior stable value fund, lets just say it is going to get interesting. At the end of the day IDNGAS as her retirement plan is ~ 2% of our assets, but in this supposed age of 401k/403b transparency this 403b provider is doing no one any favors.
Posted on 3/14/14 at 11:39 am to tirebiter
Whoa, that sounds kinda squirelly. I feel for the other participants that do have to rely on those assets.
Posted on 3/14/14 at 1:16 pm to FlowMaster
i have an IRA set up with Ameriprise being that my company doesn't offer that as an option.. My buddy's gf is a FA there!
Posted on 3/14/14 at 4:23 pm to FlowMaster
Vanguard is the cheapest I've been able to find out there. All of my money is with Vanguard funds.
Posted on 3/14/14 at 9:38 pm to TDsngumbo
Ameriprise is total shite. You just did the reverse of what a good decision maker would do. Why?
Posted on 5/12/14 at 8:32 am to austiger
quote:
Ameriprise is total shite. You just did the reverse of what a good decision maker would do. Why?
Why do you say that?
Posted on 5/12/14 at 8:59 am to FlowMaster
You don't like the fees and autopilot nature of a Vangaurd Target, so you are having a person tell you what to invest in while charging you higher fees.
Sure, that makes sense.
Sure, that makes sense.
Posted on 5/12/14 at 9:32 am to FlowMaster
quote:
I'm not a fan of target retirement funds due to high fees and "autopilot" factor.
If you moved to Ameriprise because you think Vanguard fees are high, you are most likely in for a very rude surprise.
Posted on 5/12/14 at 2:10 pm to Cold Cous Cous
quote:
If you moved to Ameriprise because you think Vanguard fees are high, you are most likely in for a very rude surprise.
true..,..
Getting ready for front-end loaded funds or 2% annual fee. They also charge extra $ for their "plans"
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News