Any experience with American Funds?
July 25, 2006 1:49 PM Subscribe
Any experience with American Funds? Could use some opinions about financial planners, too.
posted by Señor Pantalones to Work & Money (16 answers total)
I recently met with a principal investor for Foothill Securities, Inc. in an effort to get organized and buy a house in the bay area this year. We have two active 401ks , one stagnant (non-rolled-over) 401k and one stagnant 403b from previous employment (sum of these is <$25k). We also have some money in individual stock investments.
The financial planner is interested in taking us on as clients, and wants to move us to American Funds (managed funds where the clients pay a commission and make more overall, versus no-load funds where you don't and make less). She told us to do some research, so we did. I've read as much as I can google about this and found good (Motley Fool community seems to love them) and bad (SEC investigation along with all the other brokerages), but I would love some outside opinions from experienced MeFites.
While we're at it, any opinions about Foothill Securities if anyone here has used them for financial planning and investment? I've been a Motley Fool community and rule breakers reader for two years now and I am completely sick of managing my money this way. I don't have enough of it to justify the opportunity cost and would rather let a professional do it.