Yeah they tried talking me into an annuity (a big one!) too, as well as their "managed" accounts....I'm no financial whiz to say the least so the latter sounded appealing, yknow leave it to the experts...then I asked them to show me what their initial moves would be. They were Fidelity funds which were fairly new and not doing all that great return wise. I felt they were just trying to drum up business for some newer funds. Then I learned that Fidelity advisors are no longer in a fiduciary status and that was that, I take no advice from them. I'm looking at hiring an independent advisor.They eventually talked me into placing 200k into a 5 year fixed annuity paying 2.7%. The cumulative inflation rate for that 5 year term turned out to be 10%. All this was during a raging long term bull market.
I wouldn't advise anyone to use their (or any other company's) "managed" accounts...hire someone if you must for advice. Or just do some research and with some effort one can IMO become at least reasonably informed to make some solid decisions that might not be flashy but overall serve one well enough
Statistics: Posted by gunny2 — Wed Mar 13, 2024 9:21 pm — Replies 8 — Views 976