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What do you think or know about Great West Investments brokerage?

December 30, 2008, 11:55 am
Investments
atg28 asked:


My company is offering its 401k through this firm, but it seems like it nickel & dimes you on all sorts of fees.

I’ve had 401k’s before, but the vesting period is 7 years, and rolling over an immature fund results in loss of 80% of the overall fund.

I know it sounds bad, but any direct experience with this firm at all?

Me777:

Nope sorry !

December 30, 2008, 1:27 pm

  • Common Sense:

    Sounds like a variable annuity plan within your 401K plan. These type of 401K’s (and IRA’s) are very expensive.

    What’s worse is you’re paying for “tax deferment” in an account that’s already tax deferred. (Like paying twice for the same item).

    Although legal, there are many people in the investment community that consider this type of arrangement as improper. Many feel it should be against the law. Right now it’s not.

    December 31, 2008, 2:41 am