ST Alpha - "Does your guy get a commission if you buy that fund? " (Reading a Post)

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In response to "LIR: I meet with a financial advisor guy about opening an Roth IRA. He mentioned possibly investing it with Blackrock in their Global Allocation fund." by James Bond (aka Igor)

Does your guy get a commission if you buy that fund?

Posted by spamlet Sep 22 '14, 16:38

I use Fidelity because my work uses it. Others use Vanguard and it's highly rated.

Both have allocation funds that will likely be way cheaper than the Blackrock fund. Especially if you have to pay an upfront charge.

Responses:

I am not sure if he gets a commission however he doesn't take any annual management fee. This guy is from the university credit unit - James Bond (aka Igor) Sep 22, 16:40 8
- If he's recommending a load fund he gets a kickback and is steering you to a fund he gets paid more for. - spamlet Sep 22, 16:45
- One of the main things to assess about funds in a 401K/IRA is the expense ratio of the fund. - ty97 Sep 22, 16:44 6
  - ETFs are the way to go if you have an IRA that allows you to get them -- nm - Bacon Sep 22, 16:45 5
    - If you want to manage them, yes. If not, then a fund is the way to go. -- nm - spamlet Sep 22, 16:47 4
      - True true. I like to manage my own funds. Great Western (Wife's) we have 22 mutual funds to allocate her funds into. - Bacon Sep 22, 16:56 3
        
        Well with an ETF you have to reinvest dividends and whatnot. -- nm - spamlet Sep 22, 16:58 1
        
        TD Ameritrade has me on something call drip. My dividends are reinvested back in without any fees. Great tool to use there -- nm - Bacon Sep 22, 17:00
        
        My IRA I can buy anything on the market. That can be a good thing or a very bad thing if you aren't paying attention. - Bacon Sep 22, 16:58

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Does your guy get a commission if you buy that fund?

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