SEI Investments = bad deal?

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Topic Author
crazycatman
Posts: 42
Joined: Wed Feb 14, 2018 11:23 pm

SEI Investments = bad deal?

Post by crazycatman » Sun Jan 13, 2019 12:24 am

Our 401k is set up through SEI. We’re self employed and our accountant’s firm is partnered with an investment firm, so we went with their suggestion on SEI.

I haven’t really thought about switching until I searched this forum and found that some people think they’re fees are high, we’re paying 1%. But I haven’t found a ton of info on the BH forums about SEI, so I’m trying to resurrect the topic.

If we were to switch, what should we go with?

Learning as I go, so be gentle.

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danielc
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Re: SEI Investments = bad deal?

Post by danielc » Sun Jan 13, 2019 12:33 am

crazycatman wrote:
Sun Jan 13, 2019 12:24 am
Our 401k is set up through SEI. We’re self employed and our accountant’s firm is partnered with an investment firm, so we went with their suggestion on SEI.

I haven’t really thought about switching until I searched this forum and found that some people think they’re fees are high, we’re paying 1%. But I haven’t found a ton of info on the BH forums about SEI, so I’m trying to resurrect the topic.

If we were to switch, what should we go with?

Learning as I go, so be gentle.
What's SEI?

Topic Author
crazycatman
Posts: 42
Joined: Wed Feb 14, 2018 11:23 pm

Re: SEI Investments = bad deal?

Post by crazycatman » Sun Jan 13, 2019 12:40 am

danielc wrote:
Sun Jan 13, 2019 12:33 am
crazycatman wrote:
Sun Jan 13, 2019 12:24 am
Our 401k is set up through SEI. We’re self employed and our accountant’s firm is partnered with an investment firm, so we went with their suggestion on SEI.

I haven’t really thought about switching until I searched this forum and found that some people think they’re fees are high, we’re paying 1%. But I haven’t found a ton of info on the BH forums about SEI, so I’m trying to resurrect the topic.

If we were to switch, what should we go with?

Learning as I go, so be gentle.
What's SEI?
A wealth management company.

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danielc
Posts: 535
Joined: Sun Dec 10, 2017 4:48 am
Location: Pennsylvania, USA
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Re: SEI Investments = bad deal?

Post by danielc » Sun Jan 13, 2019 1:02 am

crazycatman wrote:
Sun Jan 13, 2019 12:40 am
danielc wrote:
Sun Jan 13, 2019 12:33 am
What's SEI?
A wealth management company.
Is it this company? I don't know them. I'm looking through their website, but I'm mostly confused. I'm having trouble figuring out what they offer or what their fees are. I thought that if you were self-employed you could basically get a 401k with anyone. I know that Fidelity offers Self-employed 401k plans. Was there a specific reason why SEI would be preferable to one of the big players like Fidelity or Vanguard?

bhjjk19
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Location: Buffalo NY area

Re: SEI Investments = bad deal?

Post by bhjjk19 » Sun Jan 13, 2019 7:21 am

I am very familiar with SEI as I have worked with this company from 1983 through 2013. They are an excellent company and they are very experienced in the Investment Management business. However, their expertise is more at the corporate level as opposed to a personal management level. As such, I would personally recommend looking elsewhere and away from SEI.

Topic Author
crazycatman
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Joined: Wed Feb 14, 2018 11:23 pm

Re: SEI Investments = bad deal?

Post by crazycatman » Sun Jan 13, 2019 10:36 am

bhjjk19 wrote:
Sun Jan 13, 2019 7:21 am
I am very familiar with SEI as I have worked with this company from 1983 through 2013. They are an excellent company and they are very experienced in the Investment Management business. However, their expertise is more at the corporate level as opposed to a personal management level. As such, I would personally recommend looking elsewhere and away from SEI.
Great info, thank you. I’m currently looking in to self-managing through Vangurd.

Bronco Billy
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Re: SEI Investments = bad deal?

Post by Bronco Billy » Sun Jan 13, 2019 11:14 am

If you type "SEI" in the search box (upper right corner) you find quite a bit of discussion about SEI. I had SEI and after a couple of years SEI and my FA had made a lot more money than ME. They do have a couple of funds that are not bad. Once i got rid of my FA i moved it to Vanguard. I also have funds in Fidelity and don't think you could go wrong with either company.

Topic Author
crazycatman
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Joined: Wed Feb 14, 2018 11:23 pm

Re: SEI Investments = bad deal?

Post by crazycatman » Sun Jan 13, 2019 11:19 am

Bronco Billy wrote:
Sun Jan 13, 2019 11:14 am
If you type "SEI" in the search box (upper right corner) you find quite a bit of discussion about SEI. I had SEI and after a couple of years SEI and my FA had made a lot more money than ME. They do have a couple of funds that are not bad. Once i got rid of my FA i moved it to Vanguard. I also have funds in Fidelity and don't think you could go wrong with either company.
I did the search but didn't find any recent discussion about them. Maybe I wasn't looking hard enough. What was the reason for you moving to Vanguard, if you don't mind my asking?

Bronco Billy
Posts: 85
Joined: Tue Jan 23, 2018 11:27 pm

Re: SEI Investments = bad deal?

Post by Bronco Billy » Sun Jan 13, 2019 12:19 pm

crazycatman wrote:
Sun Jan 13, 2019 11:19 am
Bronco Billy wrote:
Sun Jan 13, 2019 11:14 am
If you type "SEI" in the search box (upper right corner) you find quite a bit of discussion about SEI. I had SEI and after a couple of years SEI and my FA had made a lot more money than ME. They do have a couple of funds that are not bad. Once i got rid of my FA i moved it to Vanguard. I also have funds in Fidelity and don't think you could go wrong with either company.
I did the search but didn't find any recent discussion about them. Maybe I wasn't looking hard enough. What was the reason for you moving to Vanguard, if you don't mind my asking?
When my company was bought out and got my lump sum a good friend told me put in a good S&P 500 index fund. I choose Vanguard 500 Index Fund Admiral Shares (VFIAX) and it really did good. Then I found a FA and he made me sell it all and put into 3 Annuitys and SEI funds. When I got rid of FA I knew i wanted to get back in VFIAX. I dont buy and sell a lot...I am a holder.

Topic Author
crazycatman
Posts: 42
Joined: Wed Feb 14, 2018 11:23 pm

Re: SEI Investments = bad deal?

Post by crazycatman » Sun Jan 13, 2019 12:31 pm

Bronco Billy wrote:
Sun Jan 13, 2019 12:19 pm
crazycatman wrote:
Sun Jan 13, 2019 11:19 am
Bronco Billy wrote:
Sun Jan 13, 2019 11:14 am
If you type "SEI" in the search box (upper right corner) you find quite a bit of discussion about SEI. I had SEI and after a couple of years SEI and my FA had made a lot more money than ME. They do have a couple of funds that are not bad. Once i got rid of my FA i moved it to Vanguard. I also have funds in Fidelity and don't think you could go wrong with either company.
I did the search but didn't find any recent discussion about them. Maybe I wasn't looking hard enough. What was the reason for you moving to Vanguard, if you don't mind my asking?
When my company was bought out and got my lump sum a good friend told me put in a good S&P 500 index fund. I choose Vanguard 500 Index Fund Admiral Shares (VFIAX) and it really did good. Then I found a FA and he made me sell it all and put into 3 Annuitys and SEI funds. When I got rid of FA I knew i wanted to get back in VFIAX. I dont buy and sell a lot...I am a holder.
Thanks!

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