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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79108  
Subject: Re: After meeting with a Financial Advisor Date: 10/3/2003 1:26 PM
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aida2003 writes,

With regards to investing, he said that Vanguard is a great company (who doesn't know that yet??!!). I said to him that I want to have a Roth IRA for myself and I asked him if he would do it for me (in case we want him to be our advisor), or I just go and open an account with Vanguard or Fidelity. His answer was “Vanguard and Fidelity are no-load funds, so you can do that by yourself. If you wanted me to do, then I would offer load mutual funds such as Oppernheimer <wrong spelling?, Templeton, Fidelity Advisors, etc. that are good load mutual funds, but I cannot really say anything right now because for my advice I would expect to be paid.” Then I thought to myself that performance of load mutual funds does not differ much from the no-load mutual funds, so at least I would save on expenses if I go with Vanguard. Am I right? The advisor said that load mutual funds have 4-5% expense ratio.

I don't think Warren Buffett himself could give you investment advice good enough to overcome a 5% load.

I'd run away from this guy as fast as you can. If you need life insuracne, buy term and invest the difference in cost between term and VUL in a low-fee mutual fund.

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