No. of Recommendations: 0
Josh posted..

"A good friend of mine from high school just recently completed training at American Express Financial Planners and is now beginning to build a client base. From a strictly business perspective, what his company offers sounds like an okay deal. There's a one-time planning fee of about $350 and the plan is supposed to cover a time frame of about 2 or 3 years."

I have only briefly looked at the AMEX funds and they are usually some of the worst funds available. AMEX FP's tend to recommend their funds which are load funds. I would think twice about dealing with an AMEX FP unless I was willing and understood that any money I invested with him was to help a friend - not expecting much in return other than knowing I was helping a friend.

As far as I know AMEX funds usually fall in the bottom quartile of returns. Go to Money.COM or SMARTMoney.COM and see how the AMEX funds rank.


Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.