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re: I have an account with Edward Jones... am I an idiot?
Posted on 5/8/14 at 2:29 pm to Janky
Posted on 5/8/14 at 2:29 pm to Janky
quote:
Why would you exclude 2008. Isn't the tactical nature of an actively managed account built to help avoid 2008 scenarios?
What I was trying to imply is the OP should look at performance since they first made an investment, which was in 2008.
1
Posted on 5/8/14 at 2:30 pm to GoCrazyAuburn
quote:
There are plenty of reasons to go A-shares over C-shares.
Like anything else in the financial world, there are plenty of tools in the toolbelt. Depending on the situation, a particular tool could be perfect or disaster.
Which is why it's so imporant for any financial advisor to take the time to get to know the client, and not just have a boilerplate reccomendation for everyone that comes in through the door.
Posted on 5/8/14 at 2:32 pm to LSUFanHouston
quote:
Which is why it's so imporant for any financial advisor to take the time to get to know the client, and not just have a boilerplate reccomendation for everyone that comes in through the door.
ding ding ding. Nice to finally see some people echoing this around here. It was so lonely for a while
This post was edited on 5/8/14 at 2:33 pm
Posted on 5/8/14 at 2:32 pm to LSUFanHouston
quote:
What I was trying to imply is the OP should look at performance since they first made an investment, which was in 2008.
Gotcha.
Posted on 5/8/14 at 2:42 pm to LSUFanHouston
Great post. Exactly the kind of info I was seeking. Yes, it's the same advisor I've had since '08. I like the guy on a personal level. I'm not wise enough to judge him on a professional level. Considering the time I got in with him (Dow was about 8000, S&P about 900), I don't think it is possible not to have had good returns. I'll have to look closer at the funds later to compare their performance. But I do like how he'll look over my work accounts (MassMutual, formerly The Hartford), and make recommendations for allocations for the available funds.
quote:
The front-end fee is a sunk cost. That should have no bearing on your decision to cash out or not. I'm guessing based on your account value you probably have a nice capital gain your taxable account, so you do need to consider that before you cash out.
Yeah, I'm just not sure of my options here. If I do decide to sell the funds but not withdraw the money from the account, could I then roll it over into another account to buy funds and not have to pay the taxes? And assuming the funds are performing comparably well, I'd likely be better off keeping them, huh?
quote:
3) If you really want to do index funds, there is no reason to keep an advisor. If you want to do anymore complex than that, you have to decide if you want to put the time in to research investment choices, or, to pay someone to do it.
I think this is my main thing if I just start using Vanguard...I still don't completely trust myself 100%. I do want advice. I want someone to sit down with me about once a year or so, look over all of my accounts and either confirm that what I'm doing is correct or fix my mistakes before they snowball. I want unbiased recommendations based on my short and long-term plans, and not based on commissions. I think I def need to find me a fee-only CFP or RIA or something.
Thanks for the great info and insight!
Posted on 5/8/14 at 2:43 pm to Janky
Of course a shares are sometimes the best fit. It's not often however and especially not as often as I see on Ed jones statements.
Posted on 5/8/14 at 2:50 pm to roguetiger15
I like that info about the 7 yrs it takes to make the a shares worthwhile. Knew there had to be some sort of timeframe, but didn't know how long. And FWIW I've been in those a funds for 5 1/2 years now. So I guess I didn't completely screw up.
This post was edited on 5/8/14 at 2:54 pm
Posted on 5/8/14 at 2:55 pm to roguetiger15
quote:
Of course a shares are sometimes the best fit. It's not often however and especially not as often as I see on Ed jones statements.
Rogue, so when you are investing in c-shares, is this still not for the long term? I realize you aren't keeping them in the same fund long term, but the different c-share funds are still charging higher fees long term, plus selling fees (if under 1 year), no?
I guess, what I'm trying to understand, is your position that you can get that much greater of a return over the long term, going between c-share funds, to justify the ongoing higher fee's, than leaving it in an A-share funds within the same family, and gaining break points over time?
This post was edited on 5/8/14 at 3:20 pm
Posted on 5/8/14 at 3:16 pm to That's BS
quote:
If I do decide to sell the funds but not withdraw the money from the account, could I then roll it over into another account to buy funds and not have to pay the taxes? And assuming the funds are performing comparably well, I'd likely be better off keeping them, huh?
If you sell shares in a taxable account, you are going to have a capital gain or loss. No ways around that. There is the old mantra of "buy low, sell high". You bought low, good job. Is this the high? I have no idea.
I've always been of the opinion that if you have high quality funds that are consistently beating the market, and you have a balanced investment strategy in place, then there is no need to sell them today.
Posted on 5/8/14 at 3:34 pm to LSUFanHouston
Usually it's 18 months to two year outlook
Posted on 5/8/14 at 3:45 pm to roguetiger15
Then what do you do after that?
Posted on 5/8/14 at 3:48 pm to roguetiger15
You churn funds evry 2 years?
Posted on 5/8/14 at 3:52 pm to Janky
No. Our outlook is for 2 years and we re assess. Like I said my bulk of business is fee based. It's important to remember that.
Posted on 5/8/14 at 4:18 pm to roguetiger15
What is your fee?
Posted on 5/8/14 at 4:32 pm to That's BS
quote:
I think this is my main thing if I just start using Vanguard...I still don't completely trust myself 100%. I do want advice. I want someone to sit down with me about once a year or so, look over all of my accounts and either confirm that what I'm doing is correct or fix my mistakes before they snowball. I want unbiased recommendations based on my short and long-term plans, and not based on commissions. I think I def need to find me a fee-only CFP or RIA or something.
Would you be up for someone that can help you out and could review your accounts easily twice a year? Possibilty we may already know each other.
What's your email?
Posted on 5/8/14 at 4:45 pm to NtzDawg
I'd be curious what a financial planner or whatever costs. I've looked briefly, saw a bunch of zeros, and stepped away. I see the usefulness, just don't think it's quite worth the squeeze for most middle income people.
edit: After going back and looking, there was very little that didn't reach into the $2,000 plus dollar range. Maybe I'm not looking in the right places. Which wouldn't be surprising because I have no clue what I'm looking for.
edit: After going back and looking, there was very little that didn't reach into the $2,000 plus dollar range. Maybe I'm not looking in the right places. Which wouldn't be surprising because I have no clue what I'm looking for.
This post was edited on 5/8/14 at 4:50 pm
Posted on 5/8/14 at 5:35 pm to NukemVol
It really depends on what you are looking for. If you want a cookie cutter Ameriprise plan then it's not too expensive. If you want a comprehensive plan done by a CFP then it could be quite expensive. General rule of thumb would be about .10% of net worth for a decent plan.
Posted on 5/8/14 at 6:18 pm to Janky
So you are saying that an individual with a net worth of 1MM would only be expected to pay $1000.00 for a good plan ?
Posted on 5/8/14 at 6:25 pm to NtzDawg
A competitive fee based account can range from 1.25 percent to .90.
It's just like any other business, the bigger the size the lower percentage you are charged. Some firms now have a minimum of 1.5%
It's just like any other business, the bigger the size the lower percentage you are charged. Some firms now have a minimum of 1.5%
Posted on 5/8/14 at 6:25 pm to NtzDawg
Pretty much. Now, if they want/need extra items addressed it would be more. I should also preface this with saying that was around the going rate a few years ago when I was do the planning part. I no longer do that part of it.
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