Could I get some feedback on what you guys think about NEW ENGLAND FINANCIAL?

[dgcoupe]

Friend is taking his out of vanguard his portfolio is mostly international stuff etc.. he advise me to go with new england financial on Met Life... pls gimme your thoughts about this company?

[disneysteve]

Friend is taking his out of vanguard his portfolio is mostly international stuff etc.. he advise me to go with new england financial on Met Life... pls gimme your thoughts about this company?

Turn and run away as fast as you can. Your friend, to put it bluntly, is making a really stupid move.

New England Financial sells annuities and load mutual funds with high expense ratios. Why anyone would pull out of Vanguard, an industry leader in low-cost, no-load mutual funds and transfer their money to a place that is exactly the opposite is beyond me. I suspect your friend attended some type of "free" seminar and drank the Kool-Aid, allowing himself to be convinced that he'd be better off with highly compensated salespeople managing his money.

[dgcoupe]

the way he explained it to me is that he has a friend who manages it here and doesnt see him like a little fish in the see like he was from a big company..

[snafu]

John Bogle initially created Vanguard because he was disgusted by the abuses of prominent MF companies against their own clientèle.

The SEC does not seem to prosecute Market Timing, Late Trading, Revenue Sharing that excludes clients. I finally got around to reading The Lies About Money, R. Edelman; Simon & Schuster, during our most recent blizzard. Pages 119-163 list The Mutual Fund Scandal Timeline. You need to do careful checking before handing your money to any MF salesmen. What is the MER [fee], how close do they stay to their mandate? What is the drift? What percentage of cash do they retain in the fund you are buying?

BTW, how many clients did the New England Financial rep call to tell them to 'get out of equity and into cash' before the July 2008 hit?

[disneysteve]

the way he explained it to me is that he has a friend who manages it here and doesnt see him like a little fish in the see like he was from a big company..

If he wants to pay his friend to handle his investments, let him. Just don't follow him and duplicate his investing mistakes. Stick with the low-cost investments offered by Vanguard, Fidelity, T. Rowe Price and other no-load fund companies.

[dgcoupe]

ok thanks guys.. He's a business owner that i work for.. so he's got $$ for me i'm still starting out lol.. maybe that makes the big difference.

[disneysteve]

ok thanks guys.. He's a business owner that i work for.. so he's got $$ for me i'm still starting out lol.. maybe that makes the big difference.

Seems to me a business owner who has some money should be even smarter with his investments, not stupider.

[jpg7n16]

ok thanks guys.. He's a business owner that i work for.. so he's got $$ for me i'm still starting out lol.. maybe that makes the big difference.

Plus that means he stands to lose more on the deal.

You may think a 4% difference in returns is small, but on a larger amount for a long amount of time, 4% can literally mean millions. (2% lower in investment returns, 2% more in fees - very common with annuities)