No. of Recommendations: 3
Limited success rate. My broker has left to go to Smith Barney.

Since he has had limited success for you, let him go. Give him a pat on the fanny, a candy bar, and say "good bye & good luck to you".

According to broker, he will pay my transfer fees from Fidelty to Smith Barney and if he is not sucessful in growing my accounts the first year he will pay transfer fees to another brokerage house.

Let me translate this: "He will churn your account to increase his commissions to cover any expenses for the transfer. He will hold onto your money with a death grip until he has bled it out of your account." Unless he puts his promise in writing it is worth nothing, and he isn't going to do that. Even if he does put it in writing, he has demonstrated that he hasn't made money for you.

I tell you what--ask him if he will put in writing that your account will grow by 10% or more during the first year (after fees & commissions of course) or he will refund all fees and commissions to you for the entire year.

Or should an inexperienced investor like me consider online broker?

You have lots of experience. Your broker has been unsuccessful. Learn from the experience and start doing it yourself. Open an account at on online brokerage and put your money in some nice, index funds while you learn. You have the great advantage that you do not have the inherent conflict of interest any broker has. You want your account to grow -- the broker wants to get the most commissions he can possibly bleed out of you.

The money I have in mutual funds is divided about equally between SPY, MDY, and QQQQ. Others will have their own favorite funds, but in any case you really need to study enough about investing to make you own decisions.
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