My wife's older sister works for a hospital out in Indiana and she will be retiring in June. In conversation this afternoon, she mentioned that her 403(b) plan was handled by Diversified Investors ( I have never heard of them) and the "nice" representative suggested she "consolidate all of her stuff" with them. If she did that, they would put it into a "Lifetime Plan" and she wouldn't have to worry about anything.
Thinking that this company was well-known, she asked me if I thought that was a good idea.
Since this is all the money she is going to have aside from Social Security (she has been divorced for 20 years), I said I had not heard of this company and she ought to consider other options- like Vanguard. (Diplomacy is important here)
Anyone have any experiences or thoughts about Diversified? Sounds like a broker to me.
Mike
Diversified Investors Service Çorporation
Diversified Investment Advisors
Correction:
The name of the group is "Diversified Investment Advisors" and I am told they have their main office in Purchase, NY.
Mike
The name of the group is "Diversified Investment Advisors" and I am told they have their main office in Purchase, NY.
Mike
Never heard of them, but a quick google search turned up their web site:
http://www.divinvest.com
Then, clicking on "Complete an IRA rollover now" takes you to
http://www.securepathbytransamerica.com
which appears to want to sell you annuities.
Your sister-in-law should run away!
http://www.divinvest.com
Then, clicking on "Complete an IRA rollover now" takes you to
http://www.securepathbytransamerica.com
which appears to want to sell you annuities.
Your sister-in-law should run away!
Thanks
Avo:
Thanks. It looks like Diversified is a subsidiary of Transamerica Insurance and I guess each organization has the option to select various mutual funds/offerings to offer to employees. My sister-in-law is going to call them today to find out what options she has to transfer her 403(b) to someplace else (hopefully Vanguard).
More questions may follow after she has the call.
Mike
Thanks. It looks like Diversified is a subsidiary of Transamerica Insurance and I guess each organization has the option to select various mutual funds/offerings to offer to employees. My sister-in-law is going to call them today to find out what options she has to transfer her 403(b) to someplace else (hopefully Vanguard).
More questions may follow after she has the call.
Mike
My wife currently works for a hospital as well. Her 401a/403b is with Diversified Investment Advisors. I am pleased with them so far. She has Vanguard Institutional Index VINIX (.05) and Vanguard Small Cap Index VSCIX (.07) available.
The OP mentioned that SIL is retiring soon. I would transfer the funds to Vanguard after retirement.
The OP mentioned that SIL is retiring soon. I would transfer the funds to Vanguard after retirement.