I put money in two funds recommended by adviser a year and a half ago (IMRFX and JALGX). They are steadily tanking and I know times are tough but should I let them sit or do something before they are totally gone?
What To Do With Your Funds
October 6th, 2008 at 06:33 am
October 6th, 2008 at 07:56 am
Pardon my expression, but that's the first thing I thought of when I saw the funds.
The front loads are 5% and 5.75%. The expense ratio is 1.13% and 1.41%.
Also, their YTD return is atrocious, though grantedly, everyone is doing poorly.... Actually, I take it back. As of right now, this year's market is returning roughly -17%, and yet, these two funds are STILL under-performing that. Despite all the fund managers that's involved.
Am I being too harsh? Maybe. I do think that it's a Buyer's Market right now, and that people should continue to invest into it. However, if you're going to under-perform the market, there are much cheaper ways to do so.
October 6th, 2008 at 08:22 am
October 6th, 2008 at 08:56 am
October 6th, 2008 at 09:02 am
Forget the advisor, when he switched to MetLife, we didn't have to pay an annual fee like we did with Ameriprise, but now we never hear from him like we did when he was with Ameriprise. If we aren't paying him or MetLife, why should he care?
October 6th, 2008 at 12:58 pm
But yes, I would move my money out, if only because I assume this is Amerprise(?) and I don't trust outfits like that looking after my money.
Even if they are legitimate, the fees are way too high. The market losing money is one thing, but when you're guaranteed to lose because of your investment firm wants to overcharge you? No thanks. There are much better places to take your money. T Rowe Price, Fidelity, and Vanguard off the top of my mind.
October 6th, 2008 at 01:50 pm
Does Vanguard provide services to move it for you and help you determine this and that, like the Schwab commercial I saw?
Thanks for you help!