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Author: ewInquiry Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 17886  
Subject: Finding a better 401K Brokerage Date: 3/1/2013 4:23 PM
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The company my mid-size employer has selected to administer our 401k plan has been terrible. To be fair, their customer service has been okay, but their fund selections are extremely limited. Even for their self-directed brokerage option, the selection is poor, each trade carries a $50 commission and, on top of that, the brokerage charges an additional $100 annual maintenance fee for doing nothing. Finally, their websites pales in comparison to most discount brokerages.

Can anyone suggest a 401k administrator/brokerage that they think is really good?

Thanks!
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Author: Yumoroz Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17827 of 17886
Subject: Re: Finding a better 401K Brokerage Date: 3/1/2013 5:17 PM
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I have limited experience, only as an employee,
our company (~100 employees) had two 401K administrators, both were not very good, but better than you describe,
first was Principal (very limited selection of funds), second John Hancock (selection was not bad),
both charged "hidden fees", Principal 0.7-0.8% a year, Hancock only about 0.3%, but it was on top of advertised 0.7%

And some better experience we've had with my wife's 401K,
The Standard,
http://www3.standard.com/net/public/!ut/p/c1/04_SB8K8xLLM9MS...

better fund selection, no hidden fees, although total fee, I believe, was around 1% a year

also, you might want to ask this question on "Discount Brokers" board as well

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Author: ewInquiry Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17828 of 17886
Subject: Re: Finding a better 401K Brokerage Date: 3/1/2013 6:09 PM
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Thanks for the feedback. I'll also get the question posted on the other board as well and track this board to compile a list of 401k administrator input.

I think this would also be a good subject for an upcoming article in Rule Your Retirement. A title like, "Helping HR Pick a 401K Administrator That's Right For Your Future"

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Author: CABob Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17829 of 17886
Subject: Re: Finding a better 401K Brokerage Date: 3/1/2013 8:00 PM
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I would also suggest the Foolish 401k board at http://boards.fool.com/foolish-401ks-100160.aspx?mid=3052632...

Bob

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Author: Volition One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17830 of 17886
Subject: Re: Finding a better 401K Brokerage Date: 3/8/2013 11:05 PM
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Fidelity has offered 401k plans tailored to small businesses for over 10 years.

https://www.fidelity.com/retirement-ira/small-business/401k-...

I can't speak to the fund offerings or fees.

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Author: gtechie Big red star, 1000 posts Mission Olympia 2 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17833 of 17886
Subject: Re: Finding a better 401K Brokerage Date: 4/22/2013 10:51 AM
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My company uses Wellington as a middle-man between us and Schwab. Wellington allows us to control our own investments, taking small fees and not forcing us into craptastic mutual funds. Good plans are out there; good luck finding one.

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Author: r2lmorrow Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17843 of 17886
Subject: Re: Finding a better 401K Brokerage Date: 9/20/2013 5:33 PM
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My company just switched 401Ks from Vanguard to Fidelity as a cost saving move, however, Vanguard provided lower fees to me. Also, the managers of the Vanguard funds I selected had much longer tenure than what Fidelity is offering. I really thought that Vanguard provided a good service for about the best price in the industry along with a long-term proven track record. The fidelity funds I have chosen that are equivelent to the VG funds I use to have seem to be doing well in the current market and their fees are still reasonable, but many of the managers ahve only been on board since 2010 or 2011. I know the past performance doesn't indicate the future returns, but I would rather have a manager with 20 years of results instead of two.

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