No. of Recommendations: 0
He said the advantage to
going with him over Schwab is that I'll have the benefit of his advice.


If he's your friend, he may give you advice anyway. Either way, in the end it is best that you know about the things you're investing in for yourself and not blindly follow any advice from your friend or anybody else.

My question is, should I go with
Schwab and just pick my own funds that I want to invest in?


If you have the time to do the research to pick your own funds (or your own stocks, or go with something like the Fool 4), that is always better than having someone else do it for you. Keep in mind that most managed funds do not beat the S&P 500 over the long term. It's very possible that your friend won't either.

Interesting side note - I was looking in a magazine the other day - Money, I think - and they had some ads for mutual funds. They generally showed the 1-year, 3-year, and 5-year returns. I don't remember the exact numbers, but it was something like 55.5%, -1.2%, and 6% respectively. I just felt like laughing. Great! A 55% return for the past year? What do I care about that! Anybody can do that, but almost anybody can beat 6% over 5 years too! And they were just advertising this in a magazine?! I couldn't believe anybody would choose that fund with those numbers...
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