Suntrust Bank managed investment accounts?

	Suntrust Bank managed investment accounts? I deal with Suntrust Bank in Florida and would like an opinion on whether people think if Suntrust's managed investment accounts are worthwhile. For example, Suntrust has an investment side where you can decide what mutual funds you would like based on personal preference, load fees, yearly expenses, etc. and it is up to you to decide how your money mix is invested. They also offer a managed investment account where the mutual fund mix is tailored to your investment style (conservative, balanced, aggressive, etc.). This allows you not to have to worry about re-allocating your funds periodically yourself. They manage your account for 1 to 2 percent per year. I was wondering if there was a ranking of bank managed investing firms that could give me a ballpark figure as to whether Suntrust's fees were excessive based on the benefits involved. A lot of good responses. Actually, I always have done my own research and have tried to diversify and have done pretty well. This question was to get people's response to see if these fees are out of line. It seems that it isn't worth the expense to give up doing the work yourself. Asked By: Traveler - 6/16/2010

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Why can't you pick your own mutual funds to fit your investment style. You can go to Morningstar and pick mutual funds in these categories that Moringstar has rated as above average. You will save the 1 to 2?er year plus if you pick no load mutual funds you will also save the brokerage commission that Suntrust would pick up from the funds they put you into--about 5.75? You can probably do a better job than they can for you because you will be working for your benefit. They are working for their benefit. There really are not benefits just fees. The fees are about average though 1?s more average than 2? Answered By: muncie birder - 6/16/2010

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Let me give you some good advise. (just to let you know I have had a checking with suntrust for many years) Do you have real assetts? More than 5 or 10K? Then go find yourself a real company - not one that will fee you to death. Suntrust will fee you for buying anyting - a high cost - for mainaintaing anything. A discount broker will never, ever charge you for anything., You can open an account, buy some of their no load mutual funds - which are impressive, and never, ever pay a fee for anything. I have used a discount broker for over 10 years - never paid a red cent in fees unless I bought individual stocks. You can even buy cd's - 10 or 30 years out. No cost - and you can sell them at market - no fees. In conclusion: Please think twice about Suntrust. Please call Fidelity Investments or my favorite Charles Schwab 800 435 4000 These are good people that are NOT out to get you and rob you blind with fees. Ask abut their no load mutual funds that they offer - they will guide you in the right direction FOR THE REST OF YOUR LIFE. At schwab you can tie in your suntrust account. When you want to move money in and out - you simply go to schwab - click on their transfer button, give your suntrust account info, and they move the money for you for free. These banks also have the best credit cards in the world - that is only if you have to top credit scores. / Answered By: Judy - 6/16/2010

So called 'wrap accounts' charge a 1 to 2?ee. This fee is on top of the fee the mutual funds charge. Questionable at best if you are willing to do a minimum amount of research. Allocating a ?o a mutual fund isn't hard work. It's allocating it to the RIGHT mutual funds that is the challenge. And you are likely to find Suntrust might have an inside deal with the mutual funds they offer. Great deal for them, not so much so for you.... Answered By: cainvest1 - 6/16/2010

These fees are excessive. You are paying a mgt fee to Suntrust, possible a sales load on the funds, a management fee and expenses to the fund advisor. Fidelity will give you some free advise. There is much info on the web for free. If you want personal service seek out an advisor that holds the CFA designation (Chartered Financial Advisor). This is the highest level professional designation. Typically they will charge 1?f assets and then they will interview you and develop an investment plan that you approve. Then they will make the decisions on which stocks/bonds to buy. Typically they will not buy mutual funds because of the fees on top of fees although they may for bond funds. Source(s): www.cfainstitute.com Answered By: nokoolaid - 6/16/2010

Mutual fund and investment management fees are ridiculous these days. Especially when you consider that most of programs have been doing very poorly over the past couple of years. You're basically paying them to provide you market average performance. So you end up with worse than market average performance. You could do better by investing in a bunch of random stocks. Instead of wasting your money on that, you should cut out the middle man and develop your own investment strategy. That way you have control over your money and you always have your best interests in mind. It's really not that hard to start out, and it's not conceptually difficult. Most of the calculations that you would do are called "back-of-the-envelope" because you could solve them out...on the back of an envelope! If you're interested, you should check out my book at my website http://www.bootyourbroker.com. I'll walk you through the exact steps to design your own investing system. Source(s): http://www.bootyourbroker.com Answered By: Joe Magaro - 6/16/2010

1 to 2?s very high and I am sure that the funds involved also have a high expense ratio and are not top performers. My advice is run away from these deals. Investing is not really that hard but we usually don't study it in school and there are a lot of people who want to make it complicated so they can make money. e.g. brokers, tv shows, magazines etc. First - educate yourself - unlike algebra you will use this information the rest of your life. My suggestion is the Boglehead's Guide to investing. It is written in easy to read language and will be a good starting point before you put your money at risk. The authors are followers of John Bogle (the founder of Vanguard and creator of the index funds) I have also included a link below to their web site - a good source of information. There is a lot of ego, macho and gambling excitement that is tied up with most investment activities people engage in. Trying to make a fast buck, trading, hot tips, outsmarting the other guys.Looking at charts, calling your broker -- wow!!. If you want to gamble go to Vegas. Real investing is boring - buying several low cost index funds and rebalance every year or so. Ignore CNBC, Cramer, Forbe's hot stocks you must own now. It's is great for them to make money but not for you to make money. Nobody knows - even the really smart people with big computers. So all you can control is how much you allocated to equities, bonds and cash and your investment expenses. that is why you don't want to give up 1 to 2 ?lus per year to someone else when you can do better yourself. Good Luck Source(s): http://www.bogleheads.org/forum/viewforum.php?f=1 Answered By: J - 6/16/2010

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