Financial Services

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Financial Services

Postby Concerned » Thu Aug 27, 2009 7:46 pm

When I got laid off from my job a couple of years ago, I transferred my 401K to an indpendent management firm. With the recent economy, it obviously has not performed well but even with the latest uptick in the markets it continues to do poorly and I need to make a change.

1) Does anyone know a good website to be able to anlyze the performance of various IRA mangement companies like Fidelity, Schwab, Ameriprise, etc.? I've checked the web but the info seems to be very scatterred.

2) Does anyine have any experience they are willing to share about their experience in managing thier 401K/IRA - who's good, bad , etc?

Thanks in advance for any information.
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Re: Financial Services

Postby JBass » Fri Aug 28, 2009 8:13 am


I had the opportunity to switch from a 401k to an IRA a few years ago. Effectively I wanted to get the funds away from Charles Schwabb just because I was never impressed with them.

I chose Fidelity. It was a significant amount which availed to me the services of a V.P. out of Burlington MA. He set me up with a fund THAT NEVER WENT IN THE RED during "the crisis" as opposed to a work 401k where I lost a tidy sum. This fellow even sent me a Christmas card!

Good luck!
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Re: Financial Services

Postby Jeannine Stergios » Fri Aug 28, 2009 11:47 am

Stay away from Waddell & Reed in Manchester. Their customer service is non-existent. My company has their employee 401K plan through them and no one has even contacted us in 2 years.

On a personal note, I have a Roth with New York Life that I'm very happy with. They have many options to choose from. My husband has also used them to rollover his 401k since he got laid off. Their agent is very helpful and has even shown up at my office with lunch. His name is Martin Michaud and phone number is 233-0512 and email is
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Re: Financial Services

Postby ragin cajun » Fri Aug 28, 2009 11:13 pm

I use T. Rowe Price for my Traditional and Roth IRAs. They have a long track record of high quality mutual funds that also have low expense ratios and are no-load funds. If you have questions, their customer service reps are friendly and helpful in the few interactions I've had with them. In the handful of years I've been with them, my funds have outperformed the benchmarks like the S & P 500 and the Dow.

Another alternative would be going through Vanguard, who also have very low expense ratios and a solid history of returns.
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Re: Financial Services

Postby Concerned » Sat Aug 29, 2009 2:12 pm

Thanks to everyone for your replies so far. I am starting my research now and contacting the various companies mentioned.

I need a company that tells it like it is, offers various programs with detailed performance history, will lay it out as to the pro's and cons and offer solid recommendations based on FACTS - not their monthly program of the month.
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Re: Financial Services

Postby Tom Williams » Sun Aug 30, 2009 9:09 pm

Read this book: Unconventional Success: A Fundamental Approach to Personal Investment, by David Swensen. Then transfer your IRA to Vanguard (because their mutual fund management fees are the lowest) and manage it yourself.
Tom Williams
"Treating businesses and affluent people as prey, rather than assets, often pays off politically in the short run-- and elections are held in the short run." -- Thomas Sowell
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Re: Financial Services

Postby spnorm » Mon Aug 31, 2009 7:52 am

I have personally been very satisified with my Ameriprise office - Paul A. Pouliot & Assoc. in Bedford. He has been very proactive in finding alternate investment strategies to make the most of changing economic conditions.
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