My father is self employed and contributes every month to a Roth IRA and another fund (can’t remember off the top), has been for 30+ years. In 2013 his investment broker sold her business to another brokerage because she was retiring. At the time, the accounts were worth ~$200k, so not an insignificant amount. I was recently looking over an account summary and from when the accounts were transferred in 2013 until 2017, it was almost completely flat (aside from the monthly contributions), like it was all being held in cash. And if you check the dates the positions were opened, they all start in 2017 and 2018.
However, the most alarming part, from 2013 to 2021, the total gains were a paltry 7%. Not 7% per year, but 7% total. That’s not even keeping up with inflation, not even close. I’m not versed in investing but what the hell would cause such pathetic returns? He’s been saving his entire life and it’s like this brokerage just screwed him by doing almost nothing with his money. I mean, even in the past 5 years, the markets have gone up 60%+.
We have a meeting with them next week but I don’t even know what to ask or where to start. I just don’t understand how it can be lagging the market so severely.
Submitted October 31, 2021 at 06:27AM by driverofracecars https://ift.tt/3vY1gZa
