My mom, 66 years old, recently told me that she is wanting to move the money from her 401k to a more growth oriented portfolio than what it is currently in. She mentioned that she had talked to someone from a “chain” brokerage firm and said that they would be able to double their account value over the next 15-20 years. The front end load to move the money to the chain brokerage would be 4.5%.
My question is does this all seem ok? The fee seems high and the guaranteeing of doubling your money makes me very skeptical. I want to make sure my parents aren’t getting into something that they will regret later on. Thank you for your help!
Submitted June 08, 2018 at 01:44PM by drbryanmorgan https://ift.tt/2HwJTnt
