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Kevin P

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  1. Talked to the account executive from the NYS Deferred Compensation plan that's responsible for our county. Her school is not on their list. At this point he told me to get his information into the hands of HR so she can reach out to him and try and get the ball rolling to make this happen. So if this happens that solves the solution of where to put new money. Still trying to get through to higher ups at Lincoln to see what she can do about her 403b investment.
  2. Krow36, Thank you for your patience with me. Not being a teacher myself this is all new to me and I feel like I'm searching around in the dark with sunglasses on. Here is a link from Legends Website. https://www.legendgroup.com/provider-list/ Looks like it's just a list of all the groups that Legend has access to. I did the math from the statements - in case it was hidden in the number of shares vs price per share - it checks out. We were looking to get the amount up to $10,000. That's what kind of got the ball rolling on this. She's in a very small district - we're talking graduating classes of 50 or less. It appears that they just don't have the knowledge, people or information as available as one would like or think. I'll take a look at their site again. I'll also look into calling the NY 457 and get info that way. I think you're so correct on the little interest or time. They just see money being saved and earning without thinking that they could be doing much better. Not many are thinking long term retirement in their 20's, 30's & 40's. I've met the advisor before and he's a great salesman. My wife has talked to a couple of retired teachers about him in the last couple of weeks and they had a few choice words that I won't repeat here. Thanks again for the help.
  3. Krow, Sorry I missed the post on the 19th. I've been doing a lot of reading online and it sometimes scrambles together. A couple of updates. Still fact gathering on others. So the 12b-1 fees are being credited back. Looks like the load fees are being waived. It still leaves the high fees for each fund plus the advisors fee. I asked my wife to get the list of vendors for the 457 plan from the HR clerk and her response was - "what's a 457 plan?".
  4. Hey all, apologies as I have been away for a little while. I appreciate everyone's feedback on this. Krow - I'll be on later playing with the calculator. So, in addition to the loads and fees of the funds, he still gets his 1% as well. Not only that but one of the funds (Lord Abbett Growth) has a Premier Renewal fee. I have no idea what that is, but it was $90 each of the last 2 quarters. All in all I guesstimate this is costing her about $1000 a year, and she's putting in $4000. So enough of that guy. Obviously need to get away from him. Even if we ask him to put everything into a Vanguard fund he's still gonna rake his 1%. I remember seeing something about Lincoln's PDP. Does anyone here have any info on that? Is there an easy way to get this accomplished? Has anyone gone through it? Again, I can't say thanks enough for the help with this.
  5. http://www.lincolninvestment.com/ http://www.lincolninvestment.com/assets/pdfs/available_fund_families.pdf Advisor has been in practice for 29 years, the last 24 years at Legend Equities Corporation, Lincoln Investments. You are correct in that they are one in the same. I don't believe the school has the 457 option. I will talk to her tonight and have her ask. Thank you for the links about the 457. I will read those tonight.
  6. Here is what my wife forwarded to me: Here is list of investors: Legend AXA Voya *Legend approves who we do business with as they have the contract with the district. WOW! was all I could respond to her. I assumed there would be more options. So I went to Legend's website. They offer many options. Vanguard being one of them. I'm assuming that she would still have to deal with a rep which is going to charge a fee?
  7. Looks like we need to wait another day. She emailed the HR Clerk but she wasn't in today.
  8. Thank you both for the response. My wife teaches in NY. To my knowledge the list is not available online but she was going to stop in the office today to get the list. If so I will post it tonight. Part of the reason we were contemplating the advisor is because we have the following - Sep IRA (me), 403B (her), we both have Roths, three 529 plans for the kids & insurance policies. I'm in a family business that will someday be left to my sister and myself. It's not a wealthy industry but still not sure what planning we need to do for that. We've never looked at everything as a whole to see if our allocation was proper. We also wanted to attempt to set some sort of retirement date and calculate if we were setting enough aside to meet that date. All a bit overwhelming. Given that we are both 44, the sooner we "straighten out" our approach the better. The advisor is still up in the air. Lets start small and straighten out the 403b first.
  9. Hello everyone. We (my wife and I) are new to the forum. Thanks for doing this by the way. It's awesome to have a resource like this to help people who don't have a lot of knowledge. We started looking for info because after receiving her last quarterly statement we felt the fees were to high. She's bringing her vendor list home from school today so I don't have that yet. Here is a list of her current holdings along with their loads and expense ratios. I originally read here statement incorrectly. Turns out the one transaction ($87.06) is a Premier Fee renewal on a Lord Abbett Growth fund. Not sure what that is or how it's figured (a % of holdings)? The end of the statement had the advisor fee - 1.25%. She is currently with Lincoln Investments. We are also considering an appointment with a fee only advisor to evaluate our finances. Has anyone ever used one? Thoughts? We appreciate your time. Thank you.
  10. krow, Thanks for the welcome. I can start a new thread. My apologies. :) Kevin
  11. I'll post the holdings later. Have to head out right now.
  12. This thread is awesome. My wife is a teacher and we have limited knowledge on investing. Just realized last month when she got her statement that it appears as though she's paying a little over 6% on front-end loads. We're going to pull out her list of options later tonight and see what else may be in there. We may be back with some questions!
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