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Mich

Aig Valic Or Waddell & Reed

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I have been maxing out my 403b at Janus (doing this myself & bypassing the middleman.) However, Janus is no longer offering 403b accounts so not only do I need a new provider I also have to move my money (what is left of it!)

 

My district only has 5 vendors. I have narrowed it down to AIG Valic or Waddell & Reed. AIG is overing 4% on new money 2% on new contributions for 2009. However, it looks to me like they only over a Variable Annunity and I want to stay away from that and just have the 403b. It is really hard to figure out what the fees of these various companies accutally are.

 

Any thoughts of advie.

 

Thanks.

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Aig Valic has a lower fee platform it introduced a year or so again. Do you have availability to it?

 

I have to wonder if Valic will be sold off considering all the trouble AIG has had. I would keep your eye out for that.

 

 

 

Tony

 

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I was told they have an option that does not have front loaded fees.

 

 

They advised me that once your account reaches I believe 20K the load is waived, until then you will pay a Load.

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I was told they have an option that does not have front loaded fees.

 

HI Mich,

In the 457b plan, none of our funds have loads either, however, be aware of the revenue sharing costs. This depends on the share class of the funds. Its a little hard to find, but you can look at the yahoo financial site that lists all of the share classes of each fund. Get the ticker symbols of the funds in your plan and find out which class and look for the revenue sharing costs. In our situation, the former investment consultants deliberately chose share class that had revenue sharing costs (against our vociferous objections).

Good luck,

Steve

 

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Mich,

 

I'm guessing you live in Florida - it would be a great service if you could post or e-mail all available information about the investment options and their fees - even marketing materials (i'd be willing to give you my address). It has been like pulling teeth getting this information out of Florida.

 

My understanding is that you would have American Century available to you with no-load....try that. If you must go Waddell, I do believe they have some no-load options, if you can post or send that info, we will evaluate it for you.

 

ScottyD

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Thanks for the information everybody.

I live in Michigan. I have terrible information from these companies. I know what the percentages are for each of the indivudal mutal funds, but I don't know all of the other hidden costs & I know these sales people will also get some sort of commission (right?) which I think I have been avoiding by doing Janus on my own.

 

Yes, I do have to move my money out of Janus because I do not meet their criteria for keeping it there.

 

 

 

Mich,

 

I'm guessing you live in Florida - it would be a great service if you could post or e-mail all available information about the investment options and their fees - even marketing materials (i'd be willing to give you my address). It has been like pulling teeth getting this information out of Florida.

 

My understanding is that you would have American Century available to you with no-load....try that. If you must go Waddell, I do believe they have some no-load options, if you can post or send that info, we will evaluate it for you.

 

ScottyD

 

 

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