Do you self manage your IRA or let it managed by a broker? What are pros and cons? If you manage it yourself, how do you select your investment options? Thinking to roll over my 401k to ira.

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Manage it yourself. Literally every brokerdealer now has some sort of roboadvisor for free, or a small fee on top of the expense ratios. Your broker is just going to churn your account and there's no guarantee they'll beat the market. It's not like a broker really has good ideas anyway, they just reel you in with their analysts data, and next thing you know you're lost in their salespitch about how hard and smart they work for you and it's all nonsense. Index funds, or do it yourself

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At Big4, even a robo advisor is a huge red flag for compliance

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Excuse my run on sentence

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Wealthfront is leaps and bounds better than the Joe Schmo at the Ameritrade office.

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Wealthfront better than vanguard or pretty much the same?

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Also, you could pay someone just to help you with an asset allocation recommendation, and you take it from there

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Thanks. Are there any additional restrictions for self managing from EY? Just moved to the firm and thinking to roll over my previous 401k into IRA and heard EY is very much risk averse with this type of stuff.

You can basically use whoever as long as the individual securities are approved.

Isn't it a risk to independence to let someone else manage your investments?

Also, what KPMG said ^^^^^ . Only certain advisors actually mind the independence requirements and those are most likely high net worth advisors where I'm sure you'll pay a pretty penny unless you're SM and above

Thanks all. EY 🐠 - How do you deal with independence when self managing IRA? Any preferred vendor?

False! Try again deutsche bank!

I think certain people can benefit from having someone else manage. It’s not about them beating the market, it’s about them being able to make more rational decisions than some people can make about their own money..and potentially vastly underperforming.

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