financial advisor?

[premieritzone]

Originally Posted by peter64

My wife and I have 120k combined in our ira's. Our financial advisor has not advised us in 8 years. We just keep putting in $500 per month. Our money is with American Funds. We pay a sales charge of 3.5% on each deposit. The fund has an expense ratio of .64.
Questions:

Should we just tranfer to a Vanguard no load fund and drop the F.A.?

If we leave the exist. money with American Funds does the adviser make a % of our money even if we don't add any new funds?

Does the F.A. get paid a % of the sales charge or the expense ratio or both?

How does the fund take the expense charge. Is it taken out of the share price?

How much does the Financial Adviser make on our money?

sounds really great, you created very nice thread

[Ozi Uddin]

Dear All,

We from Salvador Brothers are currently looking for Advisors who we would like to be part of our board. Are main focus is in the UK markets as well as the International markets. We request anyone who wishes to come forward to be part of this journey.

Kind Regards
Ozi Uddin

[maxgadgetuk]

this is really nice thread you shared

[Patty.Harris]

A financial adviser that does no actual advising is a red flag. I would recommend that you consult with Cold Spring Advisory. They were able to help me recover a lot of funds from my mismanaged brokerage account.

[MegaMan45]

Vanguard index investing is the best way to go. It's the easiest way to match the returns from the entire stock market. You can either use ETFs (which I prefer) or mutual funds. Vanguard typically has the lowest expense ratios as well.

[aseel]

Nice topic for . i am interested

[companyformation]

All reply are very informative and useful.
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[BRodgers]

Thanks for sharing that info Matt.