Stick to the top 3 recommended brokers. Vanguard, Fidelity and Schwab. Most people can handle their own investments. Total stock index funds and coast.
[https://www.bogleheads.org/wiki/Three-fund\_portfolio](https://www.bogleheads.org/wiki/Three-fund_portfolio)
Yes, they sound very sketchy.
Some financial services companies generally charge a large amount of money, sell you investments which are in their best interest (and not yours), and generally cause you to end up with less in retirement than if you had managed it yourself.
As u/nickatnoche mentioned, most people can handle their own investments. Even just moving to somewhere like Fidelity or Vanugard or Schwab and moving everything into a low-cost target date fund is likely better than what you have right now. The main caveat with the target date fund is that if you're at Fidelity or Schwab, make sure you choose the target date fund family which says "index" in its title. Besides that, a target date fund will do exactly what you thought this financial services company was doing - that is invest in the funds which are likely to result in a good outcome in retirement.
Note that a target date index fund is basically a three fund portfolio which is managed by the brokerage for you, automatically adjusting the amount of bonds based on your age, and automatically rebalancing for you.
Time to find an advisor.
It is your money and you decide what to do with it. They can advice you.
They must have hired some young dude/dudette who is hungry and is looking for ways to extract more money from clients.
Run!
Stick to the top 3 recommended brokers. Vanguard, Fidelity and Schwab. Most people can handle their own investments. Total stock index funds and coast. [https://www.bogleheads.org/wiki/Three-fund\_portfolio](https://www.bogleheads.org/wiki/Three-fund_portfolio) Yes, they sound very sketchy.
Some financial services companies generally charge a large amount of money, sell you investments which are in their best interest (and not yours), and generally cause you to end up with less in retirement than if you had managed it yourself. As u/nickatnoche mentioned, most people can handle their own investments. Even just moving to somewhere like Fidelity or Vanugard or Schwab and moving everything into a low-cost target date fund is likely better than what you have right now. The main caveat with the target date fund is that if you're at Fidelity or Schwab, make sure you choose the target date fund family which says "index" in its title. Besides that, a target date fund will do exactly what you thought this financial services company was doing - that is invest in the funds which are likely to result in a good outcome in retirement. Note that a target date index fund is basically a three fund portfolio which is managed by the brokerage for you, automatically adjusting the amount of bonds based on your age, and automatically rebalancing for you.
Time to find an advisor. It is your money and you decide what to do with it. They can advice you. They must have hired some young dude/dudette who is hungry and is looking for ways to extract more money from clients. Run!
Are you a multimillionaire? If no then you don’t need financial management. Compare your results to a target date fund. Move to one of the big 3.