Investing with HSBC?
February 28, 2013 10:29 AM Subscribe
I recently read this question
about the high cost of investing with HSBC and met with my investment advisor there to see if we can knock the fees down (unlike the poster of that question, I did not pay an initial fee.) Unfortunately, they can't, so I'm stuck paying 2.25% (that's all
fees, total) annually if I stay with them. Here's the thing though: after
fees, I got a ~10% gain on my investment 2012-2013 (so ~12.25% in total.)
posted by A god with hooves, a god with horns to work & money (16 answers total) 6 users marked this as a favorite
The investment account was only opened in January 2012 - I had a $100K windfall that had to be immediately deposited in an IRA, otherwise I'd have to pay massive, massive taxes on it. I've been banking with HSBC for 10+ years and due to the nature of the windfall didn't have a lot of time to shop around.
Basically what I'm looking for is a completely hands-off investment with medium-high risk (I'm young), which I'm getting right now. I know I could be getting a (much) better rate on the fees, but I feel like I have a good thing going. Is this a stupid thing I am doing and I should move to, say, Vanguard ASAP? Should I wait it out to see where this is going?