Who do you guys TRUST with your 401k / retirement packages?

[EuroBoutique]

I'm sure there are a lot of high net worth guys on here who have a lot of wisdom to share. My last company used Fidelity and I keep hearing about how one is better than another, etc.

Since I'm not an active day trader and rarely watch stocks nor do I like to do individual trades, who is the better company to trust with my 401k rollover? I will probably put most of it into an aggressive portfolio.

Schwab, Fidelity, Scotttrade, Merrill Lynch, any others?

Is there any particular company that offers something the others do not, it seems each one has various fees they charge annually for "maintaining" your account.

 

[sahtt]

Not sure what you mean by "TRUST", are you referring to the management of the portfolio's securities or the brokerage firm failing and losing your assets? I wouldn't be concerned about "trusting" any of the big name brokers in the sense they'll fail and you will lose your money. Many firms offer additional insurance if an individual account exceeds the standard $500k threshold and you want it.

Fees vary but if you are not actively trading it and your portfolio is large they aren't going to matter much. Fees are typically flat (i.e. $50 a year to maintain an IRA, $10 a trade, etc.). I use Schwab because it's low cost but have used others and don't have a strong preference. I indirectly work for a division of Fidelity and personally wouldn't pay their or mother merrill's high trading/account maintenance fees.

 

[smokey0066]

We have our money with fidelity and vanguard. I like the interface on vanguard a bit better. I think their funds have lower loads as well.

 

[docjohn]

as stated only you can trust someone..but the major brokerage /management institutions all have their own rules/fees so you really need to shop around.I'm not sure about your roll over but with traditional 401 k's you can be limited to certain funds,and you may not be able to buy ipo's. You may not be able to buy and sell options ect.....So if you want to be aggressive in equities you may have to do some research.

 

[Dhalsim]

Put it all on Black!

 

[steveny]

 

[FF Drifter]

Wu Tang Financial

 

[docjohn]

boy does a pic say a 1000 words.....great post Steve.

 

[guanacoracing]

Since I'm not an active day trader and rarely watch stocks nor do I like to do individual trades, who is the better company to trust with my 401k rollover? I will probably put most of it into an aggressive portfolio.

Schwab, Fidelity, Scotttrade, Merrill Lynch, any others?

Your 401K was likely invested in mutual funds so being a trader or not is immaterial.

If you're planning on allocating to an aggressive portfolio, any of the financial institutions listed will be suitable to accept the rollover. You should strive for the one with the lowest account fees.

More than "trust" you need to be cognizant of the fact that a 401K (and now soon to be a rollover IRA) is a long term proposition. If the market drops 100 points tomorrow (like it did a couple of weeks back), don't panic. I'm assuming you're in the age range that a growth portfolio is suitable so just stay the course.

 

[SilverStone05]

We have our money with fidelity and vanguard. I like the interface on vanguard a bit better. I think their funds have lower loads as well.

x2.

My employer sponsored plan is through Fidelity. They have great low cost funds and the customer service is top notch. If you are parking retirement money, I'd park it here or:

Vanguard - which also has great low cost funds, as well as top notch customer service. I have long term money parked here as well.

Of the 2 of these mutual fund titans, I would personally recommend Fidelity. Their funds are slightly more expensive on average (i'm talking basis points here)- but their returns more than make up for it.

For funny money I use Ameritrade for trading- their trading console and low trading costs are awesome.

None of these brokers/mutual fund companies charge me account maintenence fees.

Good luck.