Hi! I'm 22 and have $200k in funds with my wealth manager / risk manager in TD Ameritrade. He gets 1% of it per year whether it goes down or up. Within it is a SEP which is the non taxed fund or something like that that I can't take out until retirement. I also have a Vanguard account with $250k in it. I've worked very hard from nothing since I was 16 to run 2 successful online businesses.
I just got heavily into figuring out how to manage my own wealth as well as online investing & reading a lot of books on Warren Buffet.
After research, I've concluded having a wealth manager is stupid and I can just take all the funds he's managing for me and throw it safely into VFFVX fund which is a Vanguard 2055 target retirement fund. That would save me the $2k+ a year on the 1% he's getting from me.
I'm a bit shy and unsure how to make this happen. Can I knock him off my TD Ameritrade account without doing any meeting in person? Then how to I do the transfer to consolidate everything over to my Vanguard account? For that I assume I can call and inquire myself how to do that.
I suppose I'll just send an email to the wealth advisor to say things are done? He's put my funds into specific holdings... would I have to take them out of them?
Submitted June 13, 2019 at 03:07PM by stealnova http://bit.ly/2WFfnEh
