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Has anyone heard of the fund "GVIT Small Company Fund-Class I" It is one of my choices through Nationwide and I cant find out anything about it. I called Nationwide and THEY don't know the symbol. They couldn't even tell me anything about the fund. I was supposed to receive a call back from them yesterday when they found the symbol or any info and I am still waiting. So if anyone knows the symbol or anything else I would appreciate it.

 

 

Thanks

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Good luck trying to get a response from Nationwide!

 

I am currently trying to help a relative who has Nationwide as a vendor in his 457 plan in Pinellas County, FL. and I CAN NOT get a consistent answer from their reps. The local rep and the rep's in Ohio give me different responses to the same questions. The responses to the fees they charge are different and I don't know who to believe.

 

The best they can tell me is that after you enroll, the statement you will receive will list what fees you are paying and I have found this out to be bogus info as well. Besides, nobody should have to wait to see what their fees. This information is guarded by Nationwide almost like it's classified!

 

Natiowide is currently being sued by Orlando County Florida over something to do with fees and I can understand why. In addition to the different responses and the run around I have been getting, I also found out that they offer several Vanguard, T Rowe Price and Fidelity Funds NOT mentioned in the prospectus. I found this out by accident when speaking to the rep. He mentioned the Pinellas County Employer ID Number while I was on line with him at www.nrsforu.com and I typed it in the field and alas, a whole other bunch of choices not even mentioned in the Nationwide Booklet or typed on the contract.

 

When I asked why these funds were not listed in the literature their response in Ohio where Nationwide is Headquartered, was they make very little money off of investors who use these funds. He told me this with a chuckle but was serious.

 

Natiowide's fees range from .40 to .95 basis points plus the underlying fund expenses. With respect to the Vanguard funds like the S&P 500, one guy told me their is ZERO expenses, none at all, one guy told me you only pay the fund expense fee, .18 points, one guy told me you pay .18 plus the .40 admin fees and the local rep told me you pay .18 for the fund fee and an annual 70.00 fee to own the fund. Clear as mud right?

 

And when I asked for the ticker symbols they could NOT provide those so that I could do my own research at Morningstar. They flat out said we don't have them.

 

Do yourself a favor and type in your employer ID number on their website to see what other funds you have available that you have not been told about and evaluate your other vendors.

Follow these instructions to do so.

1. Go to www.nrsforu.com

2. Click on the tab Investment Information

3. Click on the far left side, 1st tab, Monthly Investment Performance

4. Enter Employer ID Number

 

The choices he has available in his plan are terrible due to the HIGH costs. They choices are Hartford, ING, Natiowide and AIG/Valic.

 

Ing and Hartford were put in the thrash without further delay due to their high expenses. Of the remaining two, we might go with AIG but I can't get over how much they are charging for their Index funds. Their 457 plan version is not an annuity. It's a straight mutual fund and with the help of Adrian Nenu who has led a crusade trying to get the fees lowered in the 457 plan market in Pinellas county (thanks for all you have done and are trying to do), AIG reduced their expenses but they are still high compared to Vanguard and other similiar no-load fund families.

 

AIG's Index funds come in at 107 basis points and at least they are up front with their fees unlike Nationwide who can't give me a straight answer. No problem in finding out what AIG is charging in fees.

 

With that being said does anyone have a link where I can see if an individual is better off investing in an AIG Index with pre tax dollars with a mutual fund expense fee of 107 basis points versus not contributing to the 457 and instead using after tax money and investing in a Vanguard Index like Total Stock Mkt at .19 basis points.

 

Thanks

 

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Good luck trying to get a response from Nationwide!

 

I am currently trying to help a relative who has Nationwide as a vendor in his 457 plan in Pinellas County, FL. and I CAN NOT get a consistent answer from their reps. The local rep and the rep's in Ohio give me different responses to the same questions. The responses to the fees they charge are different and I don't know who to believe.

 

The best they can tell me is that after you enroll, the statement you will receive will list what fees you are paying and I have found this out to be bogus info as well. Besides, nobody should have to wait to see what their fees. This information is guarded by Nationwide almost like it's classified!

 

Natiowide is currently being sued by Orlando County Florida over something to do with fees and I can understand why. In addition to the different responses and the run around I have been getting, I also found out that they offer several Vanguard, T Rowe Price and Fidelity Funds NOT mentioned in the prospectus. I found this out by accident when speaking to the rep. He mentioned the Pinellas County Employer ID Number while I was on line with him at www.nrsforu.com and I typed it in the field and alas, a whole other bunch of choices not even mentioned in the Nationwide Booklet or typed on the contract.

 

When I asked why these funds were not listed in the literature their response in Ohio where Nationwide is Headquartered, was they make very little money off of investors who use these funds. He told me this with a chuckle but was serious.

 

Natiowide's fees range from .40 to .95 basis points plus the underlying fund expenses. With respect to the Vanguard funds like the S&P 500, one guy told me their is ZERO expenses, none at all, one guy told me you only pay the fund expense fee, .18 points, one guy told me you pay .18 plus the .40 admin fees and the local rep told me you pay .18 for the fund fee and an annual 70.00 fee to own the fund. Clear as mud right?

 

And when I asked for the ticker symbols they could NOT provide those so that I could do my own research at Morningstar. They flat out said we don't have them.

 

Do yourself a favor and type in your employer ID number on their website to see what other funds you have available that you have not been told about and evaluate your other vendors.

Follow these instructions to do so.

1. Go to www.nrsforu.com

2. Click on the tab Investment Information

3. Click on the far left side, 1st tab, Monthly Investment Performance

4. Enter Employer ID Number

 

The choices he has available in his plan are terrible due to the HIGH costs. They choices are Hartford, ING, Natiowide and AIG/Valic.

 

Ing and Hartford were put in the thrash without further delay due to their high expenses. Of the remaining two, we might go with AIG but I can't get over how much they are charging for their Index funds. Their 457 plan version is not an annuity. It's a straight mutual fund and with the help of Adrian Nenu who has led a crusade trying to get the fees lowered in the 457 plan market in Pinellas county (thanks for all you have done and are trying to do), AIG reduced their expenses but they are still high compared to Vanguard and other similiar no-load fund families.

 

AIG's Index funds come in at 107 basis points and at least they are up front with their fees unlike Nationwide who can't give me a straight answer. No problem in finding out what AIG is charging in fees.

 

With that being said does anyone have a link where I can see if an individual is better off investing in an AIG Index with pre tax dollars with a mutual fund expense fee of 107 basis points versus not contributing to the 457 and instead using after tax money and investing in a Vanguard Index like Total Stock Mkt at .19 basis points.

 

Thanks

 

In my original posting I was going to let every know how much trouble I was having with Nationwide. I is exactly the same as yours. You can call and talk to three different people and ask the same question and get three completely different answers. My problem is that Nationwide is the only 457 choice I have at work. I tried to bring in Vanguard and transfer my money and was unsuccessful. My new problem is I am Looking for another alternative to Nationwide but don't know of any that are as good as Vanguard and also offer a 457 so I can roll my money out of Nationwide. It sounds like you delt with the same ignorance in Ohio that I did.

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Unfortunately Vanguard is not in the 457 market but Fidelity is and they bent over backwards to help me. In our case, we did not have a 457 plan therefore we had zero assets under management. Fidelity was still able to offer us the plan as long as one of our members rolled over a traditional IRA worth at least 30K. Fidelity was looking for a committment. We were fortunate enough that a member rolled his IRA to Fidelity, I could not since mine was in a Roth.

 

You probably won't have this problem since you guys already have a plan with assets. I'd go with Fidelity, next to Vanguard it's a no-brainer! Good Luck

 

Fidelity 457 plan Dept is 1-800-868-1023 this office is located in Salt Lake City, UT.

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