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I have been with Schwab for years but always manage my own investments. They offer a free portfolio check-up with suggestions. Has anyone ever used this? I am getting to the point where I am 20 years out from retiring and I want to make sure I am maximizing my time and making my money grow.

Anyone with experience? I think I need a little help.
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This is the one over the phone by the way. Even better, I would like to get both my Schwab IRA and Vanguard (current employer) 401k all considered as one pot and get suggestions but not sure if Schwab will do that or will they for a fee?
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I have been with Schwab for years but always manage my own investments. They offer a free portfolio check-up with suggestions. Has anyone ever used this?

I haven't had any experience with Schwab, but Fidelity offered a free check-up with suggestions and I took them up on it. I was supposed to gather all my stock and fund information beforehand and have it ready when I called. So, I did. The Fidelity guy seemed interested in having as much as possible transferred to Fidelity. (He wasn't interested in the funds I held in my 401(k), for example, as they couldn't be moved.) I had rather naively assumed that he would check out my asset allocation in terms of domestic/foreign, large cap/small cap, etc. But whatever asset allocation I had, he was OK with that. He didn't care. If I had an international fund, he suggested a Fidelity international fund instead. The general principle I think he was following is that if I had an investment in X, then he would suggest changing that to an investment in a Fidelity product that was in X.

I also signed up for a free educational session with TD Ameritrade. They talked about a few investing basics and then launched off into talk about some investment platform/service (or something) for trading options; it had all these nifty features and would cost only $499. I guess the whole thing was something like a web-based infomercial. It lasted several hours. I watched it for about an hour and a half (the whole thing went on for four hours), but then I stopped; I had other things to do.

As I said, I have no experience with Schwab but, FWIW, these were my experiences with Fidelity and TD Ameritrade.

--SirTas
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If it is free, go ahead.
Just take whatever they say with a grain of salt.
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I have been with Schwab for years but always manage my own investments. They offer a free portfolio check-up with suggestions. Has anyone ever used this?



not really.

they had something like that a couple years ago and just looked at asset allocation. i Failed .. (not enough of this /too much of that)


...don't see how it could hurt... see what they say, bring questions here
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I have accounts with both Schwab and Fidelity and done portfolio reviews with both. My experience was slightly better--but only slightly--than SirTas'. Essentially, they both apply simple pre-programmed portfolio allocation models based on your age and self-assessed risk profile. Then they try to to get you into their different funds as part of any re-allocation.

It's not a bad thing to do, and, being free, the price is right. But, as Ox and others note, don't take it at face value and you'll get better and more neutral evaluation here and on similar boards.
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Both Fidelity and Schwab will give you a canned portfolio, recommending you sell everything you own and buy what their canned portfolio contains. They can't deal with American funds or anything else you already own.

Sumap
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Both Fidelity and Schwab will give you a canned portfolio, recommending you sell everything you own and buy what their canned portfolio contains.

That's not been my experience, but perhaps I didn't go through the same "evaluation" as you.

They can't deal with American funds or anything else you already own.

They can deal with many funds; when I moved to Schwab they took in several funds that we had, but they cannot take in proprietary funds (we had to sell our Dean Witter funds, which was just as well since they sucked). That is a decision of those funds, I think, not Schwab or whoever.
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