Recent thread that wandered into discussion of how to get best price on a new auto prompts me to ask the following:
Let's say I've got all my defined-contribution retirement money (individual, not employer or government) stashed in IRA's at two firms, for example Schwab and Fidelity. Dollar amounts currently in low six figures at both firms, invested in a handful of stock and bond funds at each, no active trading. Let's further say I have a long-term (more than five years) horizon before contemplating any withdrawals, have potentially some additional chunks of cash to invest (useful as bait to dangle!), and am geographically blessed by bricks-and-mortar offices for both firms located within easy traveling distance.
If I request a "check-up" appointment with each firm at their local office, what should I be asking each firm about costs and services? I have no idea if I'm getting full value from each firm. Should I be looking for an assigned personal advisor? How to determine annual fees? Possible benefits of consolidating everything at one firm (not something I am naturally inclined to do)? Whether my investment allocation choices are comparable at both firms (I tend to think they are)? How the bricks-and-mortar office can benefit me compared to an on-line-only firm such as E-Trade?
-Mark Bole