I'd like to resurect this discussion for a bit, albeit on a slightly different topic.I've found an agent that can properly look up my account information as well as transfer it into a host of different funds (most of which will likely do better than the annuity it's in now). I'm basically giving this new agent a shot to see what he has to offer. Although, this is really just lip service because I'm thinking of moving it all to Vanguard. (I'd keep everything, for the moment, under the ubmrella of a traditional IRA and I'll likely start converting it all to a Roth starting next year.) Anyway, Mr. Agent says he can move my money into any of around 10,000 funds of the 15,000 (estimated) available funds on the market. He likes the funds from American Funds but can put it into just about anything including Fidelity, T. Rowe, Janus, et cetera. So now I'm confused by how he's getting paid. Since he can't skim off the top of my bottom line is his paycheck coming as a commission from the funds I invest in? So he says, "the better I (investor) does the better he (agent) does." I'm sure... But if my expense ratios are the same from any of these companies if I were to invest with them directly it would appear that it wouldn't hurt me to keep the agent. I know that logic can't be true - he's getting paid from somewhere but I don't see it. Any thoughts?
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