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Message
Ameriprise versus Vanguard
Posted on 4/10/15 at 2:54 pm
Posted on 4/10/15 at 2:54 pm
Just left a job and rolling $245k into a traditional ira. My Ameriprise advisor wants the ira check sent to Ameriprise naturally, but I am leaning towards sending it to Vanguard. Pros, cons, thoughts? Just seems like Vanguard is more solid, reputable....
6
Posted on 4/10/15 at 3:13 pm to FlowMaster
I am in the process right now of moving all my retirement and savings accounts from ameriprise to vanguard
ameriprise has many hidden fees (such as an IRA custodial fee, WTF) and their selection of mutual funds are subpar and many of them carry very high fees.
Vanguard seems to be a much better deal in my opinion. Much lower fees, no hidden costs, and a better selection of funds.
I have a 30 year window and the funds I'm looking to start with are:
VTSMX, VWUSX, VMGRX, VISGX, and VWIGX
ameriprise has many hidden fees (such as an IRA custodial fee, WTF) and their selection of mutual funds are subpar and many of them carry very high fees.
Vanguard seems to be a much better deal in my opinion. Much lower fees, no hidden costs, and a better selection of funds.
I have a 30 year window and the funds I'm looking to start with are:
VTSMX, VWUSX, VMGRX, VISGX, and VWIGX
Posted on 4/10/15 at 4:05 pm to white perch
Thanks Perch
Posted on 4/10/15 at 7:31 pm to FlowMaster
Doesn't mean that Ameriprise has to be a worse option. Depends on your advisor.
Posted on 4/10/15 at 7:57 pm to white perch
It depends how old you are, risk tolerance, other assets you have, current financial situation, but vanguard has lower fees...
That's all that matters.
That's all that matters.
Posted on 4/12/15 at 11:18 am to FlowMaster
Will your Ameriprise advisor make more money from one than the other? If so, then you would have to earn a higher return from that choice. Do you think that is probable?
Posted on 4/15/15 at 4:04 pm to FlowMaster
Both are solid companies and there are advantages to using both. At the end of the day it boils down to your long-term goals and which one would best be able to help you achieve them. Would be happy to have conversation outside the forum. Never hurts to get a second opinion.
Posted on 4/15/15 at 4:18 pm to white perch
quote:
ameriprise has many hidden fees (such as an IRA custodial fee, WTF) and their selection of mutual funds are subpar and many of them carry very high fees
I met a prospect who rolled over his 401-k to Ameriprise a couple of years ago. I asked him how much were their fees. He said he wrote the advisor a check for $1,000/year (Client has over $650k with them). Something didn't smell right so I dug deeper into his statements. The client was unaware he was paying 2% annual for fee based advisory account. He loved the advisor cause he hosted a "free" client crawfish boil every year. I told him that's where some of your $1,000 went to.
Posted on 4/15/15 at 4:56 pm to FlowMaster
VANGUARD!!!!!!
Posted on 4/15/15 at 10:58 pm to FlowMaster
quote:
thoughts?
The most important consideration is the adviser. If you get a good one, regardless of company affiliation, you will net more money. The "lower fees" argument drives me nuts. If you save 1-1/2% but net 2% lower returns you still make less money. Interview several advisers and go with the one that you feel the most comfortable with. Review your statements frequently and compare them to what the market is doing. Changing advisers is easy.
Posted on 4/16/15 at 6:54 am to FlowMaster
In general, it is rare to beat the market.
If returns are equal, the lower expense funds are the way to go.
It is possible to beat the market, but most advisors do not.
The percentage play is to keep expenses as low as possible and invest for the longterm.
If returns are equal, the lower expense funds are the way to go.
It is possible to beat the market, but most advisors do not.
The percentage play is to keep expenses as low as possible and invest for the longterm.
Posted on 4/16/15 at 7:46 am to makersmark1
quote:
The percentage play is to keep expenses as low as possible and invest for the longterm.
that's why I make the switch.
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