Talk of The Villages Florida - Fross & Fross or Cebert Wealth

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Quote:

Originally Posted by 784caroline (Post 1358662)

Are you a client of Fross and Fross??? If so and you do not want REITS and Annunities talk with them.....they will listen. If your not a client and your repeating hearsay, I have been with them for more than 5 years..and I have never had a REIT or an Annuity in the account. Yes they were discussed but we simply moved on to other subjects. Everyone's financial situation, risk tolerance and goals are different. They do offer REITs and Annuities but these would be for the more income oriented and risk adverse accounts.

I was a client and they did not act as a fiduciary and gave me horrible advice. I trusted them and found out later exactly what they steered me too. They specifically tell you they will take all the worry away so you can enjoy your retirement. What they take is a fee on top of recommending things they get commissions on. Why would I go to someone I can't trust to be doing the right thing by me? I now manage my own again. But if you like them, good for you.

My wife and I went to several wealth management seminars over 13 years ago. After much thought and research, we decided to go with Thomas Fross. We are still with them today, and they have done very well with protecting & producing results with our portfolio. We highly recommend them. We have never been sorry.

Many advisors are competent but most by law have no obligation to steer you to the right thing. They many times make recommendations based on what commission they will make. And if you don't really dig and research, you think you are paying them overall much less than you truly are.

I'm sure most of these companies are nice to their customers - they should be - they are getting a lot of your money. Even if your investments tank, they still get their cut.

If I were inclined to trust my investments to an adviser, which I don't, I would ask to see (documentation) what THEY were invested in and to invest mine into the same.

I have handle our investments for 10 years. We do have an advisor but my money is still mine to choose. Any fees that I would have paid to someone goes to a higher risk, and money made goes back to my regular funds. I want to look into the online advice of bobblehead

This may not be a good idea as his/her investment goals may be considerably different from yours. Different goals mean different investments. Also, his/her's level of risk may be considerably different than yours.

Quote:

Originally Posted by RickeyD (Post 1359231)

If I were inclined to trust my investments to an adviser, which I don't, I would ask to see (documentation) what THEY were invested in and to invest mine into the same.

Quote:

Originally Posted by CassieInVa (Post 1359230)

Many advisors are competent but most by law have no obligation to steer you to the right thing. They many times make recommendations based on what commission they will make. And if you don't really dig and research, you think you are paying them overall much less than you truly are.

I'm sure most of these companies are nice to their customers - they should be - they are getting a lot of your money. Even if your investments tank, they still get their cut.

Yep. :thumbup:

Being responsible of my own wealth management, also means that I don't have to spend oodles of my investment money sponsoring Polo Teams, paying for big billboards... and incessant advertising/mailings/free dinners. :shrug:

Quote:

Originally Posted by CassieInVa (Post 1358797)

Yes, very familiar with Bogleheads.com. Great information on low cost investing. If you are with a financial planner that doesn't charge fee based, you are paying a minimum of 1% per year on your balance (some charge 1.5% or more, so ASK!!), along with other commissions every time you buy a stock or mutual fund share. I was amazed as I had no clue because these fees never show on the statements, and even when you ask, they sometimes are not made clear. You never see where it is taken out, so you don't realize how much is missing.

This is a simplified example. Say you have $1,000,000 in retirement funds. Your rep charges 1%, which is $10,000 yearly. Plus commissions or loads on share/funds purchased. That is a minimum of $10,000 of your money yearly that is not invested or growing. If you are withdrawing 4% yearly for spending (4% of assets is common) then that $10,000 is a full 25% or 1/4th of your yearly income. This is why I learned to invest in stock index funds, inbounds, CDs, etc.

I realize some may need an advisor. But for me, it is a hobby/interest now.

Let's see if we can get enough interest t o start a group. Would be great also for any spouses who do not handle the money or investing currently, but wish to learn more.

Just getting ready to retire and hubby and I would be interested in joining the group. PM with a time and place next month. Thanks!

Quote:

Originally Posted by ColdNoMore (Post 1359280)

Exactly! That was my thought when with Fross and Fross. I looked at the total amount they handle and figured 1% and no way could it pay for all those things. That's when I looked deeper into what they put me in and then got out as fast as I could. The REITS I'm stuck with for quite awhile. What I really was upset with is they pointedly sold me on being able to trust them so I could just enjoy my retirement and I believed them. But again, some are obviously very happy with their service so it's a matter of opinion.