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buylower,

You wrote, Does anybody have a suggestion as to a good place to hold a 403(b)? My wife needs to set one up and fortunately you are free to choose anyone you want. I tried Scottrade but they can only do 401(k)'s. I'd like to be able to choose mutual funds and/or individual stocks and with low transaction costs. Scottrade would have been nice as they have no-fee mutual fund transactions. Anybody else have a suggestion besides Fidelity? TIA

Have you checked into Vanguard? TIAA-CREF? T. Rowe Price? These are all excellent fund companies.

Personally, I'd stick with a mutual fund company when setting up a new new retirement account. Brokerages tend to cost too much in fees for a transaction, so you'll probably be stuck buying into no-fee mutual funds for a while anyway. Once you accumulate some assets, rolling some or all of the funds over into a brokerage might make sense.

In any case, I don't think you'll find many brokerages that offer a 403(b); but many mutual fund companies do.

- Joel
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