Review and Question On American Funds

[danjomart]

Hello All,

I am new to finance. I just left a company after working there for 6 years and I have a 401k with them. A friend referred me to a investment advisor and he advised me to put my money into American Funds. Does anyone know about this service?

Thanks,

Joe

[disneysteve]

Hello All,

I am new to finance. I just left a company after working there for 6 years and I have a 401k with them. A friend referred me to a investment advisor and he advised me to put my money into American Funds. Does anyone know about this service?

Thanks,

Joe

Turn and run away as fast as you can.

That person is not an "investment advisor." He is a salesman. You absolutely do not want to move your money to American Funds where you will pay a huge upfront load and high expenses so that "advisor" can line his pockets.

Stick with a no-load firm like Vanguard, T. Rowe Price, or Fidelity.