Avoiding 401K Financial Advisor Fees

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boof
Posts: 1
Joined: Tue Feb 13, 2018 5:22 pm

Avoiding 401K Financial Advisor Fees

Post by boof » Tue Feb 13, 2018 5:33 pm

Hello,

I have a 401K set up with my employer and we are limited to the big financial groups (Merill, Schwab, Fidelity, etc.) we can invest with. My money is currently with Merill Lynch. As much as I would love to use Vanguard, it isn't an option we have. Is there any way to avoid the FA fees and invest the 401K myself through one of the bigger financial groups out there?

Spirit Rider
Posts: 7813
Joined: Fri Mar 02, 2007 2:39 pm

Re: Avoiding 401K Financial Advisor Fees

Post by Spirit Rider » Tue Feb 13, 2018 10:29 pm

You need to give us more information.

Are you referring to funds from those brokerages or accounts there. If the latter Schwab and Fidelity offer index funds comparative to Vanguard. At all three you can purchase Vanguard ETFs.

Also, is the Financial Advisor optional or a mandatory component of the 401k plan.

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