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Re: Free consultation with a Fidelity Advisor

Most of the folks here are right that the "advisor" has an incentive to get you to roll money over to Fidelity. I can't speak from experience but it's common knowledge in the industry the top advisors aren't in that position. You probably wouldn't want to retain them. At your asset level i...
by Beelzebozo
Thu Apr 25, 2013 1:09 am
 
Forum: Investing - Help with Personal Investments
Topic: Free consultation with a Fidelity Advisor
Replies: 21
Views: 2097

Re: Small Business 401K

Much of this depends on your definition of small business. The primary factor is whether your plan has more or less than $1MM in total plan assets. If you're under $1MM, then there's very few low cost options. Look at Employee Fiduciary, The Online 401(k), & Ascensus/Vanguard for fully bundled R...
by Beelzebozo
Thu Apr 25, 2013 1:00 am
 
Forum: Investing - Theory, News & General
Topic: Small Business 401K
Replies: 2
Views: 1016

Re: Share Classes

Anyone who tells you $25MM is a small plan is not familiar with the industry. There's a lot of providers who will bend over backwards to close a $25MM deal. At that asset level you can get institutional shares of almost ANY fund, most certainly PIMCO. Strangely enough, Vanguard is an exception to th...
by Beelzebozo
Thu Apr 25, 2013 12:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Share Classes
Replies: 5
Views: 493

Re: Best choice for 401k for a Small Business

The key thing to remember when looking at plan providers is that investment expenses are completely separate from recordkeeping & admin expenses. You can have cheap funds and still be getting bilked. No plan is free or "almost free". Plan providers have to make money somewhere; the iss...
by Beelzebozo
Mon Apr 01, 2013 7:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Best choice for 401k for a Small Business
Replies: 3
Views: 822

Re: Success changing 403b fund options

Good on you. The sad fact is it probably took them less work to add those funds than it did for you to write the letters. If you're still even slightly dissatisfied with the fund menu, consider lobbying for a Self-Directed Brokerage Account feature. This would allow you, upon signing a waiver, to ge...
by Beelzebozo
Sun Mar 24, 2013 8:14 pm
 
Forum: Investing - Theory, News & General
Topic: Success changing 403b fund options
Replies: 3
Views: 428

Re: Q? re: admin fees paid for 401k/403b (spec at TIAA-CREF)

It may depend on the size of the plan but it's very likely you can accomplish exactly what you want while sticking at TIAA-CREF. They do have an open-architecture platform where you can get almost any fund your heart desires, including Vanguard funds. It's newish and TC does not encourage people to ...
by Beelzebozo
Sun Mar 24, 2013 8:11 pm
 
Forum: Investing - Theory, News & General
Topic: Q? re: admin fees paid for 401k/403b (spec at TIAA-CREF)
Replies: 11
Views: 1723

Re: 403b Question: Individual vs. Group Custodial Agreement?

Other posters are correct that the main reason the change was made was to make the plan available to move to another provider. HR may be considering moving or may already have a new vendor in mind. Asking about this is certainly a good idea. Fidelity is better than 90% of 403(b) vendors if used appr...
by Beelzebozo
Sun Mar 24, 2013 8:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Question: Individual vs. Group Custodial Agreement?
Replies: 5
Views: 603

Re: 403b Bad Choices!

Mutual of America is one of the worst out there. I have never seen a single case where they were priced competitively. There is absolutely no way to change they list of investments they offer. That list is basically repackaged mutual funds with an extra fee of .50 - 1.25%. Remember, you don't need t...
by Beelzebozo
Sun Mar 24, 2013 7:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Bad Choices!
Replies: 25
Views: 1506

Re: 401(k) - What's your opinion on revenue sharing?

Are you referring to Vanguard's branded product which they hire Ascensus to run or to Ascensus's direct-sold product? The former does offer the 10bps but I'm pretty sure the latter does not. Disclosure: I work within the retirement plan industry and over just the past year have analyzed more plans t...
by Beelzebozo
Sun Mar 24, 2013 7:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What's your opinion on revenue sharing?
Replies: 12
Views: 2133

Re: 401(k) - Employees who want a better plan need your advi

The "Required Revenue Number" for a plan provider is simply the total number of dollars they need to get paid for the services being offered. It's the "How Much?" component of the proposal, completely independent of the "How is it being billed?" part. A provider may quo...
by Beelzebozo
Sun Mar 24, 2013 7:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - Employees who want a better plan need your advice.
Replies: 25
Views: 2062

Re: Advice on 401K plan getting more fund choices

If you let me know the total assets in the plan and the number of participants with balances, I can give you an idea of what constitutes competitive pricing in the overall market. A list of tickers on your fund list will determine what your overall fees are. It's likely that you aren't paying any fe...
by Beelzebozo
Sun Mar 24, 2013 8:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice on 401K plan getting more fund choices
Replies: 9
Views: 946

Re: 401K with "No Out of Pocket Expenses"

It's always nice when someone smells the BS these people sling. Good on you for sticking w/ EF. The main pitch from these people is twofold: no direct costs and increased fiduciary protection (meaning less liability remaining for the lawyers). While none of it is technically untrue, it's somewhat mi...
by Beelzebozo
Sun Mar 24, 2013 8:02 am
 
Forum: Investing - Help with Personal Investments
Topic: 401K with "No Out of Pocket Expenses"
Replies: 5
Views: 884

Re: 401K help

In order to assess viable vendors the most pertinent numbers are total plan assets, participant balances, and (to a lesser extent) estimated annual contributions. To start, Morgan Stanley doesn't actually do anything for your plan except sell it. They put their name all over somebody else's recordke...
by Beelzebozo
Sun Mar 24, 2013 7:39 am
 
Forum: Investing - Help with Personal Investments
Topic: 401K help
Replies: 9
Views: 1357

Re: 401(k) - How much is reasonable to pay for advice?

This is an extremely interesting question with many facets. I found your poll options amusing because in many cases costs work out to more than $30/participant. For example, Great West offers Advised Asset Group (a wholly owned subsidiary of Great West) as a portfolio manager you can hire to create ...
by Beelzebozo
Sun Mar 24, 2013 7:31 am
 
Forum: Investing - Theory, News & General
Topic: 401(k) - How much is reasonable to pay for advice?
Replies: 9
Views: 918

Re: 401(k) - What's your opinion on revenue sharing?

The article on Vanguard's revenue sharing is somewhat useful but tangential to the primary debate about revenue sharing. I'll gloss over the regular conversation and then show why what Vanguard is doing is good. Revenue Sharing is the component of a mutual fund's Net Fund Expense Ratio that the fund...
by Beelzebozo
Sun Mar 24, 2013 7:03 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What's your opinion on revenue sharing?
Replies: 12
Views: 2133

Re: small 401(k) employee question [pooled accounts?]

The rules that the CPA referenced are known as the 404(a)(a) Participant Level Fee Disclosures. He is correct that since there is no participant input on investment decisions, you are not entitled to disclosures. However, the 408(b)(2) Plan Level Disclosure Rules still apply. This means that the bro...
by Beelzebozo
Sun Mar 24, 2013 6:18 am
 
Forum: Personal Finance (Not Investing)
Topic: small 401(k) employee question [pooled accounts?]
Replies: 7
Views: 1358

Re: The Online 401K

As numerous others on the site have mentioned, consider Employee Fiduciary as well. For tiny plans sub 500k, those are the two best bets. I have had certain dealings with them and can attest to their friendliness, professionalism, and ability to follow up on issues. Someone I know has had to transit...
by Beelzebozo
Sun Mar 24, 2013 5:53 am
 
Forum: Personal Finance (Not Investing)
Topic: The Online 401K
Replies: 3
Views: 1634

Re: Acceptable Expense Ratios in 401k?

The number you need to look for is Net Expense Ratio. Gross Expense Ratio is typically what's disclosed in the prospectus and Net takes into account temporary expense waivers that last for maybe 3 or 6 months. The difference between the two is typically minimal. The "Management Fee" is typ...
by Beelzebozo
Sun Mar 24, 2013 5:45 am
 
Forum: Investing - Help with Personal Investments
Topic: Acceptable Expense Ratios in 401k?
Replies: 21
Views: 2956

Re: 401(k) - Employees who want a better plan need your advi

This post is long but meant to be a detailed guide for plan sponsors and participants. In the future I'll see what I can do about getting a full wiki guide. I will divide this response into two sections: 1) Suggestions for Plan Sponsors and 2) Methods of Action for Participants. Participants may wan...
by Beelzebozo
Sun Mar 24, 2013 5:35 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - Employees who want a better plan need your advice.
Replies: 25
Views: 2062

Re: "Fees" on Vanguard funds in 401k

I'm sure that gwrvmd means well but he is misguided on several points. While hiring a 401(k) administrator is not a legal requirement, it is the best course of action 99.9% of the time. The important thing is to make sure you are paying a reasonable cost for recordkeeping & administration servic...
by Beelzebozo
Sun Mar 24, 2013 1:42 am
 
Forum: Investing - Help with Personal Investments
Topic: "Fees" on Vanguard funds in 401k
Replies: 7
Views: 2120

Re: Adding funds to company 401k options

First of all, it is extremely odd that your funds must be from AF, Vanguard, or DFA. Typically fund family limitations pertain only to one family. This makes me suspect that AF is your plan provider. If you are considering removing/replacing funds, your plan provider may tell you that a certain perc...
by Beelzebozo
Sun Mar 24, 2013 1:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Adding funds to company 401k options
Replies: 8
Views: 1519

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