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Post by Fearchar on Jun 7, 2023 11:38:57 GMT
Thru the 401k at my new job, I have access to Edelman services... Free for 3 months.... and online advice may be free after that, but it is not clear.
I am hesitating at signing up, but it is tempting and of course I am curious type of guy.
So, does anybody here have experience with them?
Thank you
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Post by uncleharley on Jun 7, 2023 11:48:38 GMT
They are new to me.
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Post by fishingrod on Jun 7, 2023 12:43:30 GMT
They are overpriced I feel. I have experience through a friend. They are for people who know nothing and don't know the drag that 1.75% each year and how it can hurt performance over long periods.
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Post by Fearchar on Jun 7, 2023 13:17:02 GMT
They are overpriced I feel. I have experience through a friend. They are for people who know nothing and don't know the drag that 1.75% each year and how it can hurt performance over long periods. 1.75% yikes! I am pretty sure I can get their tools for free long term. The personal advice is free (again thru my employer) but only for 3 months. I am thinking of doing it for just the free period and of letting everyone on board know what they advise.
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Post by Fearchar on Jun 7, 2023 13:31:16 GMT
Reading their site.
Annual Fee is 0.95% for accounts less than $100,000 or $7.92/month per $10,000.
Annual fee is 0.9% between $100,000 to $200,000
0.85% for over $200.000
There is some fine print about supplemental. Also $900 minimum for personal Advisor.
What is great is that I have only about 16k in that 401k. However, I am sure they will ask about other accounts.
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Post by fishingrod on Jun 7, 2023 18:04:32 GMT
Reading their site. Annual Fee is 0.95% for accounts less than $100,000 or $7.92/month per $10,000. Annual fee is 0.9% between $100,000 to $200,000 0.85% for over $200.000 There is some fine print about supplemental. Also $900 minimum for personal Advisor. What is great is that I have only about 16k in that 401k. However, I am sure they will ask about other accounts.
You must be getting a good discount through the 401K program.
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Post by steadyeddy on Jun 8, 2023 1:34:16 GMT
Thru the 401k at my new job, I have access to Edelman services... Free for 3 months.... and online advice may be free after that, but it is not clear. I am hesitating at signing up, but it is tempting and of course I am curious type of guy. So, does anybody here have experience with them? Thank you Fearchar, I have great regard for your financial acumen and how you have your own views of the market direction. Just a bit surprised you are even considering an FA.
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Post by Fearchar on Jun 9, 2023 8:50:34 GMT
Thank-you steadyeddy, Will follow your implication and save both my time and theirs. It would be just a distraction to contact them.
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Post by steadyeddy on Jun 9, 2023 11:07:15 GMT
Thank-you steadyeddy , Will follow your implication and save both my time and theirs. It would be just a distraction to contact them. Good idea. As someone else said, one should use these guys if they have zero interest in portfolio construction and management.
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Post by johntaylor on Jun 14, 2023 21:10:56 GMT
In 1940, a book came out about Wall Street entitled Where Are the Customers' Yachts?
Edelman may be doing okay: "...the Edelmans today pledged $25 million to preserve and expand the Rowan University Fossil Park...The park will be named the Jean and Ric Edelman Fossil Park at Rowan University."
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Post by yogibearbull on Jun 17, 2023 10:52:05 GMT
Use it if available free or at low-cost through work 401k/403b. Otherwise, it isn't worth it.
There is an interesting story on how it became Edelman Financial Engines. It does pitch low min, as low as $5K that most advisors won't even bother with. Ric Edelman is an aggressive promoter of mass-market advisory services (of course, he started Edelman Financial Advisors, a national chain of advisors). He has also sponsored some ETFs (XT, etc). Of course, Nobel Laureate Bill Sharpe (89; Stanford) and an MPT wizard was the brain behind the old Financial Engines that Edelman acquired. Moreover, Edelman is a great admirer of Bill Sharpe and I wonder how their business meetings went/go.
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