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
Best Answer - Chosen by Asker
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% per year plus if you pick no load mutual funds you will also save the brokerage commission that Suntrust... More
Answered By: muncie birder - 6/16/2010
Additional Answers (5)
Let me give you some good advise... More
Answered By: Judy - 6/16/2010
So called 'wrap accounts' charge a 1 to 2% fee. 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 % to a mutual fund isn't hard work. It's allocating it to the RIGHT mutual funds that is the challenge. And you are likely... More
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... More
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... More
Answered By: Joe Magaro - 6/16/2010
1 to 2% is 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.... More
Answered By: J - 6/16/2010
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Legitimate Survey for Cash.Extra Money for You,Join Here!
Shop Online or Sign Up To Sell AVON & Earn Fast Cash Today!
$21/hr Start, Avg Pay $72K/yr Check Our Map of the 1700 Openings.
Other Career Questions
Do most mechanical engineering jobs offer job security?
What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.