No. of Recommendations: 0
My company currently uses a full-service brokerage for
our SEP IRA's. With some work, I convinced "my
personal broker" to not invest in a 5.75% front-loaded
fund because of the high commissions, and instead find
a cheap S&P 500 index fund. One week later, he calls
back and happily informs me my money is
safe in an index fund that I had never heard of.
He said "Don't worry, all index funds are the same." On further
research, this fund ("Mainstay ..") has a 3% front-load
and 1.05% annual fees, despite just tracking the
index!

So here's the deal. I think I could convince the
powers that be to switch away from the full-service
broker, if I could find a SEP IRA administrator
with the following traits:
* automatic monthly purchasing
* a small list of diverse funds, for people who
aren't comfortable being self-directed
* low-commission brokerage services
* user-friendly

I currently use Waterhouse for my taxable investing.
I'm not sure if they do SEPs, and they're not as
user-friendly as may be necessary for my non-Fool
workmates. Does anyone know some other possibilities?

thanks,
Andrew
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.