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|Subject: Any reason to keep my financial advisor?||Date: 3/2/2012 12:57 AM|
|Author: CitizenH||Number: 70260 of 76899|
About a year ago I seeked help from a Financial Advisor. A friend recommended Ameriprise to me and now part of my assets are under this guys control.
The reason I went with this approach is so that I can focus on other things in life but after a year of working with them the following things bug me:
- $1200 yearly fee
- $1,25% in fees for money under their control
- $1.15% fees for funds (apparently front load fees are not paid for by me)
- Constant pushing of Ameriprise products (Life Insurance, Disability Insurance)
- Request to sell pretty much all my stocks that I have with Scottrade and move over to Ameriprise
- Even if I would go with all the products they push... there is no package deal. It just all becomes more expensive.
- I get advice on how to allocate my 401(k) and 529 plan - but I never get a full financial picture on how my entire financial situation is doing. Only for the part of the money that is under their management.
I need an approach that will allow me to not spend to much time thinking about my investments. I don't want to pick any individual stocks anymore (I tried Hidden Gems). And I don't want to get ripped of - which seems almost impossible with Financial Products.
Is Scottrade and a good asset location of Vanguard Index/Dividend Funds/Bond and REITS my best option here?
Thanks for any help or advice,
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