Thanks for the advice. You're correct that they're very concerned about risk (although I could argue it's more risky to leave the money where they're being charged thousands per year).Perhaps I would put a portion of the money into a money market account portion as someone else suggested.I might suggest that they consider transferring the balances over to a brokerage with an online interface, and I could let them know I'd watch over the balances and allocate the funds as needed. They could still have access, and I'd make sure they'd have a very conservative strategy. My dad makes enough that soon as my sisters are out of school they should be able to greatly increase the balance, and I just hate the idea of some money manager making thousands every year by transferring funds between one mutual fund to another.. it's just moronic.
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