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JC.

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Everything posted by JC.

  1. IPX was recently added to my districts plan. The promoted access to dozens of low priced Fidelity funds for fee of $50 a year. I was supper excited and after reviewing the entire list, which I shared attached to this post, I decided to open an account. There was a catch with IPX though. They put me through a bait and switch. After I signed up for the account I noticed that not all of the investments that were disclosed to me before I started the account were available. When I questioned this they said "We are QA'ing the Fidelity fund list and should be pushing out to the system the list i first shared with you. Would think it will be there by early next week." After the week the fund list was refreshed, but with out many of the low cost investments that were originally advertised. When I question this again, the representative apologized and said "Good morning. There were several funds from the original list that I sent to you which are cannot be included in the lineup. Most of those were the institutional index funds which had to be deleted. I apologize that they were included in that original list provided. Please let me know of any additional questions I can answer for you." Needless to say I will not be doing business with IPX. I will be going with Vanguard instead. Please make sure you watch these companies. We need to keep them honest. Thanks agin to all that post here for your support and guidance. Enjoy. JC fidelity p3 funds (1).xlsx
  2. Hi Ed, There was a catch with IPX. When I signed up for the account not all of the investments that were disclosed to me before I started the account were available. When I questioned this they said "We are QA'ing the Fidelity fund list and should be pushing out to the system the list i first shared with you. Would think it will be there by early next week." After the week the fund list was refreshed, but with out many of the low cost investments that were originally advertised. When I question this again, the representative apologized and said "Good morning. There were several funds from the original list that I sent to you which are cannot be included in the lineup. Most of those were the institutional index funds which had to be deleted. I apologize that they were included in that original list provided. Please let me know of any additional questions I can answer for you." Needless to say I will not be doing business with IPX. I will be going with Vanguard instead. Please make sure you watch these companies. We need to keep them honest. Thanks agin to all that post here for your support and guidance. Enjoy. JC
  3. Thank you Ed. I will check it out and let you know how IPX goes. JC
  4. Thank you so much for your response. That website 403bcompare.com is a wonderful resource. I would say the IPX plans that do not charge BP seem to be a wonderful option. You have to remember though Fidelity charges $24, but I have to content with the $36 fee Omni charges. So if Omni brought Fidelity into the P3 I would have to pay $60. with IPX I pay $50 and that includes Omni's $36 fee. It's actually cheaper. Since I will just be using this account for the Fidelity SP 500 index fund FXAIX at .02% it's an incredibly inexpensive plan. Thanks again for the reply. JC
  5. I have yet to see them as an option, but I would be surprised if they didn't have some way of addressing that market. JC
  6. I'm with you Ed. I really appreciate the thoughts. I agree, the website is weird. I have been emailing with a representative and everything seems like its on the up and up. I had never even heard of this company. The link I sent from 403b compare seems to confirm what I am being told. The $121 they reference seems to be the $50 fee, plus the cost of owning funds. The site estimates this 71 fee by taking the average expense ratio of all investment options. and multipling it by a 10k investment. I would just use the Fidelity SP 500 index fund FXAIX .02%. It sounds almost too good to be true, which is why I'm questioning it. I also have a Vanguard proper option, but that is $60 a year and I would rather Fidelity funds. Thanks again Ed. JC
  7. Hi Ed, Thank you for the response. From my understanding IPX has three different types of accounts that you can open all with a different fee structures and investing opportunities. What the representative shared with me seems to be confirmed by 403bcompare. Here is there product list https://www.403bcompare.com/vendors/1966#/productlist And here is the plan that gives access to Fidelity Funds for a $50 flat fee. https://www.403bcompare.com/products/272#/investmentoptions Ed thinks IPX is unethical. Does anyone else have an opinion? ' Thanks again Ed. JC
  8. Hi Everyone, My district just added two new vendors to our list. IPX and Vanguard. Which would you choose: Vanguard $60 a year or IPX with Fidelity Funds for $50 a year? I'm a Fidelity investor, the fund I am interested in are on average less expensive than Vanguard, but my money would be house with IPX not Fidelity directly. Thoughts? JC
  9. Does anyone have experience with IPX? It seems like Aspire, but less expensive. $50 a year for Fidelity funds. Thanks in advance. JC
  10. JC.

    New TPA

    Aspire charges $40 and .15%. Not horrible. JC
  11. JC.

    IPX 403b

    Has anyone ever dealt with a company called IPX https://www.ipxplatform.com/overview/ They just came online as an Omni P3 provider. They seem to be set up just like Aspire, but their cost structure is better. For Vanguard Admiral share funds it costs $86 which includes Omni's $36, Vanguards fees and IPX fees. For Fidelity funds it costs $50 which includes Omni's $36, Fidelities fees and IPX fees. or their Fund Portal option which is $50 & .2% This includes a bunch of investment options. I'm not sure why you would do the Vanguard one or the Fund Portal since Vanguard itself only charges $60 a year and my district pays Omni's $36 or the Fund Portal option. But $50 for access to a boatload of Fidelity funds sounds great. Has anyone heard or dealt with IPX before?? Thanks in advance. JC
  12. JC.

    New TPA

    Are you sure you are not grandfathered into the plan you had previously opened at Fidelity? I am currently with Aspire. There is a maintenance charge and they do charge basis points. I would look into them first. JC
  13. Thank you for the perspective. JC
  14. JC.

    NY 457

    Thank you.
  15. Thank you for the reply. I actually called Fidelity and was told in order for them to come to my district we would have to start with a 100 million account. I’m not sure that’s happening. I am very grateful. Thanks again for the reply. JC
  16. JC.

    NY 457

    Hi Everyone, I'm in NY and am having a difficult time with not dropping the 403b altogether and moving to the 457 which has an administrative fee which is a combination of a $20 annual fee, paid in two $10 semi-annual installments and an asset-based fee calculated as a percentage of a participant's account balance. The annual asset-based fee is estimated to be 3.0 basis points, paid in two 1.50 basis point semi-annual installments. The asset-based fee will be charged only on accounts with balances in excess of $20,000. Account assets subject to the asset-based fee are capped at $200,000. So for the NY 457 $200,000 would be $20 + ($200,000*0.0003) = $80 annual fee MAX since the asset-based fee is capped at $200,000. That $80 turns out to be an admin fee of .04% Am I wrong or isn't that a really inexpensive plan? JC
  17. I will have to check up on that. The information I was passed just talked about Vanguard's $60 annual fee not Omni's fee of an additional $60. I'm in NY and am having a difficult time with not dropping the 403b altogether and moving to the 457 which has an administrative fee which is a combination of a $20 annual fee, paid in two $10 semi-annual installments and an asset-based fee calculated as a percentage of a participant's account balance. The annual asset-based fee is estimated to be 3.0 basis points, paid in two 1.50 basis point semi-annual installments. The asset-based fee will be charged only on accounts with balances in excess of $20,000. Account assets subject to the asset-based fee are capped at $200,000. So for the NY 457 $200,000 would be $20 + ($200,000*0.0003) = $80 annual fee MAX since the asset-based fee is capped at $200,000. That $80 turns out to be an admin fee of .04% Isn't that better? Is there something I am missing? Thanks all. JC
  18. Hi Everyone, Just heard that Vanguard is back on Omni's P3 provider list. Vanguard Fee is $5 a month/$60 a year plus fund expenses.So 200k .04% fund expense is $80 plus $60 annual fee= $140 Has anyone else heard this? I will be calling my district office tomorrow to confirm, but it looks like good news is coming. Thoughts? JC Vanguard 403(b) Services_Core Fund Offering 4Q19.pdf Vanguard 403(b) Services Program.pdf
  19. Hi Everyone. My district subscribed to Omnis p3 provider list. I’m trying to get the district to add Fidelity but am being told that if the district wants to participate in the P3 program (substantial cost savings), they CAN NOT allow employees to contribute to companies that are not part of the P3 program. Does anyone have any experience fighting this fight? Thanks in advance. JC
  20. JC.

    So Many choices

    Thank you so much for all the responses. I am currently using the info to refine my search. Thanks again. JC
  21. JC.

    So Many choices

    Thank you very much for the info. I will take a look at the links. Enjoy.
  22. JC.

    So Many choices

    Hi Everyone. I’m new around these parts. I heard about the site because the founders were on a Motley Fool podcast. Looks like you have a nice community. I have attached my list of providers through Omni. Can anyone give some advice on how to slim the list? I’m in NY. Thanks in advance. JC
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