I currently have stocks and other investments with a brokerage firm. My financial advisor has apparantly left
Question:
thank you
Answer:
Usually fifty dollars. Visit your brokerage's web site and look at the fees section.
you may have to pay up front fees again if you are going into load funds, or you could go online to troweprice or vanguard,or fidelity, call them up and they can transfer it all over to them and you dont really have to pay anything, just the normal management fees and they are usually under .8% or so through those companies, they have alot of choices,but if you arent into investing your best best is to call troweprice, tell them to put you in the target date fund that matches the year you want to retire, then they adjust it as you get older
that way you just add money and forget it for 30 years and not ever worry about reallocating or diversifying,they do it for you
Some brokerage firms will charge an account termination fee (typically on IRA's) which usually is around $50 to $100. If you have to sell positions you currently own because they can not be held at another broker, you will pay the broker transaction fee and you may owe taxes on realized capital gains on positions sold in non-retirement accounts.
Before you hire another advisor, read my blog article entitled "What are you paying for?" before you commit. The blog url is http://www.investonpurpose.com... Generally speaking, fees and performance are inversely related.
I will help you for FREE if you have less than $1,000,000.00 USD.
I am a Portfolio Manager with over a decade of experience in the Stock Markets.
I had the same situation, and moved my stuff over to Schwab without paying any fees.
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