I'm a 22 year old guy that just got started with my company's 401(k) a few months ago. Which elections should I choose, and what percentage should I put towards each?
It is in a bank account right now and it is getting 0.89% interest. I want to buy a motorcycle in a few months, but if i make a good return on this money than the motorcycle can wait. I just wanted ...
My wife and I are starting life, so to speak, and I have come to the conclusion that we are somewhat horrible with money. While we make it paycheck to paycheck with comfort and enough to spend, it is ...
I am looking for very low commissions and hoping to find an online brokering firm where I can trade small amounts of stocks easily and without losing money to fees. Also, my starting balance is small ...
I have been talking with a professional forex trader and he says he has been trading for 25 years and he can manage an account for me that earns between 1-3% a day for around 20% a month. Can ...
Hi,
i'v never bought shares in my life and dont have any clue what share market is all about,i would like to invest in shares though,i'm looking to start with £500pounds and see how ...
MysteryWriter
Smith Barney or Fidelity?
Who do you think it's better to go with for investing, IRA's, etc... Smith Barney or Fidelity? Thanks.
Both Smith Barney and Fidelity are top-notch companies. However, it's the investment advisor (broker/registered rep) that makes the difference. Interview people from each company to see who you feel comfortable with.
Please be aware that brokers from large companies like the above-mentioned are much more likely to pay attention to you if you have a lot of money!
Ask friends and relatives for recommendations, and then check them out on nasd.com-- click on NASD BrokerCheck-- to find out information about anyone you might be thinking of working with.
Max Power
It depends. If you're investing a large sum of money, then you want a good advisor who will watch your account and actively manage it. If you are investing for the long term and not worried about short term performance than you should be more concerned with fees. Obviously the active management is going to cost more but you should also get a higher rate of return. This is better for larger sums of money where the fees are less important than return. If this is an investment with a 20+ year time frame then returns tend to even out and fees are the biggest impact. That's when you're better off with one mutual fund company.
With Fidelity you only invest in their funds. They have some very good and many average funds. With Smith barney, they will use a variety of mutual funds from many companies. This allows them to choose the best funds from each company. So you get better funds but you pay a higher price for them in the form of an extra fee for the Smith Barney broker on top of the mutual fund fees. You also get a much more personal touch. Fidelity is changing to a more advisor approach and offering the service but it is more cookie-cutter. But that may be all u need. A lot of time it comes down to who you can trust and who you feel more comfortable with.
taonguyen
I have to agree with Ruby's answer. Get recommendations from friends or family and interview the FA's.
The firms all have their pro's and con's but for the most part will have a platform that is more than adequate for the average investor. It's the relationship with the FA that will make the most impact in the long run.
JeffyB
Fidelity is better tha Smith Barney by a mile, but Charles Schwab is better than either. I have had business dealings with all three, but I put my money (all of it) with Schwab.
Good Luck.
perdidobums
Fidelity
Organized Chaos
Fidelity has a very high reputation. I used to work for a different investment company and they are one of our competitors. What you want to watch out for is investments options and fees. Good luck.
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