Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: thatfoolpeter Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 25318  
Subject: Employer flipped my 401k to Schwab....GRRRRRR Date: 1/10/2006 10:41 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
The company I work for was acquired last year. They decided that they would "move" my 401k from Fidelity to Schwab. No chance to opt-out. They stuck me with the bill for selling some of my shares too early (some of my Fidelity funds had holding periods) and they sold me out of several Fidelity funds that were doing quite well (and at least one that is now closed to new investors).

Recently, I got access to the schwab website and reviewed what they had done with my money. It's been jammed into similar funds at schwab that I know nothing about. They promised more choices...but I swear there are less funds to choose from now. I've got to research my choices all over again and possibly rebalance my portfolio. Who knows if that is going to generate more fees:P The clincher is that the schwab 401k site doesn't support downloads into MSMoney or Quicken. Either automatically or by manual download. Apparently there is some "e-statement" I can get which gives me a link to get my transactions. Why I can't get those transactions when I log in and click activity is beyond me. I do everything in Quicken so this is a key feature for me.


FAQ states:

Can I download my account information into Quicken or MSMoney?

This capability is being developed and we plan to implement it in the future. The best way to get information to aid in your data entry is to request a 30-Day Transaction Statement via the SchwabPlan Hotline at 1-800-SCH-PLAN (724-7526).


Only had my account there for a few days. Already hate it! GRRRRRR!!!

Sorry, had to vent.

I hate, I hate, I hate Peter Pan....I mean charles schwab!
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement