I'm relatively new to the investment world, but I know enough to realize that my retired parents are getting raked over the coals with the 2 IRA mutual fund portfolios they hold with a brokerage center (Raymond James… not that it matters). Here's the problem I have with their portfolio, and the reason for my post: their money has been spread out over FIFTEEN different mutual funds… most of which are funds consisting of class “B” and class “C” shares. I'm talking about 5% front end loads, 1.75% expense ratios, deferred loads…. the works. I want to get them into 2 or 3 different index funds with Vanguard that have low operating expenses and no loads, and at the same time getting them to realize they don't need a broker to purchase mutual funds. They feel ashamed for being so naïve, but I have taken it upon myself to get them out of this quagmire. I know the kinds of funds I want to get them involved with, but here are my questions: should I advise them to transfer their money out of these ridiculous funds at all costs? Does the fact that they hold traditional IRAs present any problem when transferring? I realize I'm probably asking for simple answers to a complex problem, but I would be EXTREMELY grateful to any advice you could impart in helping my folks get out of this pickle.Sincerely,Travis M
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