601: Brokerage Accounts, Loads and Fees

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Learn about brokerage accounts, loads and fees.

In this podcast I review whether to keep a financial advisor or invest on your own, which brokerage firm to use and how fees enter into the equation.

Here is the listener question:

Hey Linda,

I was wondering if you can help me with some advice!

Currently I have an account with XYZ Company and I’m little concern about the fees. Right now my advisor gets 1.15% of my Roth IRA and 2% on my stocks. I was wondering if it’s worth me staying there since I’m getting help from an advisor or would be a good idea to look at opening a self management account with a company like Fidelity?

The reason why I’m trying to focus on staying with XYZ Company or switching, is because I plan on investing 60k more into the market. My advisor keeps pushing for me to put into stocks and hold them for awhile, but I really want to put in mutual funds and index funds for a safer bet.

If you can give me any advice on what would best for me to do, I’d greatly appreciate it! I’m a big fan of your show and look up to you as a mentor. You have been a big help in the finance area in my life! Thank you for everything, I hope to hear from you.

Jasper

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