is it bad to just dump bad MF and reinvest?

[LivingAlmostLarge]

The MO was bought in 2017. It hasn't made any money. More it was the cost of a trade is about the value of the stock. I know the 1 share of HD was worth like $30 and $30 fee for trading. Same with a couple of the MF and I think MO was $62. Oops sorry it was $700 and only $30 fee. It's just disingenuous all around.

Hence why in some ways there is a lot of paralysis for me. I am trying to suggest the low cost fees

2012 $511k contributed $181k till now
2020 end $1.073M
-fees have been $62k but not including all the interest on the margain loan and mortgage they had but didn't need.

[james.hendrickson]

The stock trading industry in general has moved away from these kinds of fees. This was more commoplace in 1990, but not so much now. Almost all the major brokerages are not charging to trade stocks.

They might charge a AUM fee or a margin fee, but fees to trade stocks are no longer industry standard.

[kork13]

Selling it is simply an acknowledgement of errors already made. Cut bait & start fresh.

That said, there's probably nothing rational that will draw them away from these crooks. However, you might introduce them to Vanguard's Personal Advisor services ($250k minimum, 0.3% AUM fee), or similar where the advice is more likely to be legitimately in their best interest, properly aligned with their goals, more successful as investments, and a great deal less expensive to boot.

Separately.... Have you ever discussed filing a complaint against the company with the SEC? Surely this stuff violates their fiduciary responsibility.

[Like2Plan]

One nice thing about being towards the end of the year is if it looks like it will have an impact on their taxes, you could spread out the capital gains over 2 years. (Assuming congress doesn't do anything wild with the GC tax rates).

[LivingAlmostLarge]

Selling it is simply an acknowledgement of errors already made. Cut bait & start fresh.

That said, there's probably nothing rational that will draw them away from these crooks. However, you might introduce them to Vanguard's Personal Advisor services ($250k minimum, 0.3% AUM fee), or similar where the advice is more likely to be legitimately in their best interest, properly aligned with their goals, more successful as investments, and a great deal less expensive to boot.

Separately.... Have you ever discussed filing a complaint against the company with the SEC? Surely this stuff violates their fiduciary responsibility.

Majority is held in 2 IRA and Roth IRA and minimal tax repercussions. Nope it's been a long standing problem. I think it's in the past. Gotta let it go and move on. Wish the personal advisors at Vanguard, but my parents want to meet with someone in person.

[kork13]

Wish the personal advisors at Vanguard, but my parents want to meet with someone in person.

That's reasonable, and no problem.
https://www.schwab.com/private-client https://www.fidelity.com/wealth-mana...agement-detail
..... Just for a couple of the big-name options

[james.hendrickson]

Guys - I've been using schwab for a decade. I like and endorse them. They have solid hiring practices, and a good tech stack.

[LivingAlmostLarge]

I like doing ameritrade on my own. Right now we are doing chase because of our mortgage refinance.

[scfr]

I think between you and kork13 you may be on to something, continuing to use an advisory service and make it one that offers face-to-face meetings, but use a more reputable one (Schwab, Fidelity, etc)
It might not be the "perfect" solution but might be a great compromise and better than the current set up.

[LivingAlmostLarge]

Unfortunatey no. That is not going to work. A lot of the reason they use this person is they are from a "good" family and they have been with them for years. They are not switching to another company or person. If they move it'll be to the bank of LAL and free boring services. NOTHING spectacular nothing fun. TD ameritrade and everything boring index. Have to work within the parametere s

[scfr]

Unfortunatey no. That is not going to work. A lot of the reason they use this person is they are from a "good" family and they have been with them for years. They are not switching to another company or person. If they move it'll be to the bank of LAL and free boring services. NOTHING spectacular nothing fun. TD ameritrade and everything boring index. Have to work within the parametere s

I get it. You have to work within the parameters of what they're willing to do. Good luck.