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tychosmoose@lemm.ee 10 months agoThat’s all fine, but just be sure you know how much you’re paying them for that service. Before we switched to self-managed a number of years ago our guys were taking 1.4% off the top of the whole account just to pick a bunch of index ETFs. Market goes up 5% and I only see 3.6% of it. Not good. Plus the ETFs they picked had higher expenses than just going with a whole market choice.
They offered to get us on a plan at 1%. Ha, no thanks.
GuyDudeman@lemmy.world 10 months ago
Yeah that’s bad. We’re with JP Morgan through our local Chase branch and their fee when all is said and done is averaged down to less than 1% of the total account balance.
tychosmoose@lemm.ee 10 months ago
That’s better for sure. Still too much for me. Our all-in investment cost is 0.05% now. That’s a lot of free compounded yield compared against guided investments which are themselves no better than the average market (on average).
GuyDudeman@lemmy.world 10 months ago
Who are you with?
tychosmoose@lemm.ee 10 months ago
We are on Fidelity. But self-directed on all the big ones are no fee and free trades these days - Vanguard, Fidelity, Merrill and probably others. Just need to watch the fund/ETF fees to have a total cost.