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Started By
Message
Anyone familiar with Betterment or Northwestern Mutual for investing?
Posted on 3/28/18 at 10:30 am
Posted on 3/28/18 at 10:30 am
Does anyone here have experience with using Northwestern Mutual for investments? I have been considering a number of options with Vanguard having been at the top of my list until they made a bit of a screw up last week when working with me over the phone on opening an account.
The reason I am considering NM is because I have a former student employee of mine who has been a financial advisor with them for the last six or seven years. He's a good guy and someone I would have no issue picking up the phone and discussing things with and would know I'm getting straightforward answers to my questions without any nonsense. It's a benefit I might not have elsewhere. Problem is, I don't know much about their fee structures yet as I haven't reached out to him to set anything up.
Another option I am intrigued by is Betterment. Anyone have any thoughts on them?
Thanks!
The reason I am considering NM is because I have a former student employee of mine who has been a financial advisor with them for the last six or seven years. He's a good guy and someone I would have no issue picking up the phone and discussing things with and would know I'm getting straightforward answers to my questions without any nonsense. It's a benefit I might not have elsewhere. Problem is, I don't know much about their fee structures yet as I haven't reached out to him to set anything up.
Another option I am intrigued by is Betterment. Anyone have any thoughts on them?
Thanks!
This post was edited on 3/28/18 at 3:49 pm
6
Posted on 3/28/18 at 10:37 am to S1C EM
quote:
Northwestern Mutual for investments?
If you are looking for protection/insurance type investments (annuities, life insurance) that carry guarantees , NW Mutual is a very solid shop
If you are looking to just invest in equities such as stocks, mutual funds etc, there are likely much better, cheaper options for you
quote:
He's a good guy and someone I would have no issue picking up the phone and discussing things with and would know I'm getting straightforward answers to my questions without any nonsense
He isn't working for free and you'd be the one paying him.
He may provide enough value to justify his cut, but don't think that the advice is free. Otherwise he'd give it if you went somewhere else
quote:
Another option I am intrigued by is Betterment. Anyone have any thoughts on them?
Robo advising/portfolio management is interesting, hard to say how good an option it is at this point.
This post was edited on 3/28/18 at 10:45 am
Posted on 3/28/18 at 10:56 am to GenesChin
quote:
If you are looking to just invest in equities such as stocks, mutual funds etc, there are likely much better, cheaper options for you
This. This would be a "general" account with no stated "goal".
quote:
He isn't working for free and you'd be the one paying him.
He may provide enough value to justify his cut, but don't think that the advice is free. Otherwise he'd give it if you went somewhere else
And to be honest, he probably would give good advice regardless of where I go. That said, I hear what you're saying and it's a valid point.
quote:
Robo advising/portfolio management is interesting, hard to say how good an option it is at this point.
Agreed. It's really intriguing to me. I suppose I could try it and shift to something else later on, right? I just hate to miss out on the current market dip as far as getting the money into something and Vanguard will now take over a week, maybe two to get anything done because of something a dickhead phone rep did on Friday.
Posted on 3/28/18 at 10:58 am to S1C EM
I should add, it's interesting to me that I can speak with someone at Betterment for free with no minimums versus Vanguard requiring a $50k balance to use their Personal Advisor Service. And you get a year of management for free right now.
Posted on 3/28/18 at 1:27 pm to GenesChin
quote:
mutual funds etc, there are likely much better, cheaper options for you
Wrong! Annuities have high fees. But when getting in MF with NW or NYL the fees are well below 1% range from .65-.7
Posted on 3/28/18 at 2:14 pm to bstew3006
hunh? Which is more expensive than Vanguard. That is kind of his point.
Posted on 3/28/18 at 2:23 pm to S1C EM
quote:
Northwestern Mutual
run
Posted on 3/28/18 at 2:38 pm to Carson123987
Had a NW Mutual guy come around recently that was a friend. Texted out of the blue talking about the opportunities to wisely spend your money. It felt like I was in a damn primerica interview/conversation. Super, SUPER aggressive and took the phrase "always be closing" to a new level. Then the dude had someone else he was training try and take over. It was the most amateur, sad BS I have ever seen.
Posted on 3/28/18 at 2:38 pm to Carson123987
quote:
run
Pretty straightforward. I appreciate that.
So, for giggles....here's what Betterment put together based on what I told it I wanted to do (long-term, general investment). Thoughts?
Total fund fee per year is .08%
This post was edited on 3/28/18 at 2:40 pm
Posted on 3/28/18 at 2:40 pm to S1C EM
14% in emerging markets seems high.
Posted on 3/28/18 at 2:51 pm to Janky
quote:
14% in emerging markets seems high.
I should say, you can alter any of these as you see fit. If you were to change that one, where would you reallocate to?
Posted on 3/28/18 at 3:26 pm to S1C EM
quote:
here's what Betterment put together based on what I told it I wanted to do (long-term, general investment). Thoughts?
Why do you need to pay for that service? That's give or take a couple percentage points off from basically any recommendations out there.
Definitely low on small cap and mid cap, but if that's what you like so be it?
0.08% is not expensive at all, so if you like it then certainly do it. Investing is a pretty unique to yourself thing. Do what makes you feel comfortable.
Posted on 3/28/18 at 3:30 pm to baldona
quote:
small cap and mid cap
Posted on 3/28/18 at 3:37 pm to bstew3006
quote:
Wrong! Annuities have high fees. But when getting in MF with NW or NYL the fees are well below 1% range from .65-.7
So what do the fees look like after the account and transaction fees NW/NYL charge?
That's before you realize that 0.65-0.7 is probably for a passive managed fund which means it has a higher expense ratio than a Vanguard fund
Posted on 3/28/18 at 3:45 pm to baldona
quote:
Why do you need to pay for that service? That's give or take a couple percentage points off from basically any recommendations out there.
Definitely low on small cap and mid cap, but if that's what you like so be it?
0.08% is not expensive at all, so if you like it then certainly do it. Investing is a pretty unique to yourself thing. Do what makes you feel comfortable.
Appreciate what you're saying. For the record, I'm a novice at this, so much of it is still Greek to me and having guidance on what is best for my needs is certainly helpful. Obviously, minimizing fees is important. A good, workable interface for the website/app is also important to me, which they seem to have done a great job with.
Thank you for the recommendations.
ETA: What if I dropped the emerging to 9% and upped the small and mid to be on par with the large?
This post was edited on 3/28/18 at 3:48 pm
Posted on 3/28/18 at 3:55 pm to S1C EM
quote:
Another option I am intrigued by is Betterment. Anyone have any thoughts on them?
Company 401k is managed through Betterment. Although the employer match sucks, I max it out and Betterment generally performs well with little micro-management involved. It probably isn't a highly efficient way to invest, and you probably miss out on constant specific gains, but it is very solid for simple monthly management of mutual funds.
I have about 10-15% of my savings in there based on my 401k and it's one of the more consistent performers.
Posted on 3/28/18 at 4:06 pm to Brageous
quote:
Had a NW Mutual guy come around recently that was a friend. Texted out of the blue talking about the opportunities to wisely spend your money. It felt like I was in a damn primerica interview/conversation. Super, SUPER aggressive and took the phrase "always be closing" to a new level. Then the dude had someone else he was training try and take over. It was the most amateur, sad BS I have ever seen.
I got roped into the same deal bruh, but i didnt know better at the time. buddy's son got an internship there and my buddy asked me to go do a sitdown with him so he could get some talking experience. Sure.
i go and buddy's son has an older guy with him. they proceed to try and sell me disability insurance
found out later that those mfrs take interns on the first day and give them a sheet of paper with blank spaces. gotta fill it out with all the contact info of everyone you know that you could sell insurance to. sad.
Posted on 3/28/18 at 4:27 pm to S1C EM
quote:
Appreciate what you're saying. For the record, I'm a novice at this, so much of it is still Greek to me and having guidance on what is best for my needs is certainly helpful. Obviously, minimizing fees is important. A good, workable interface for the website/app is also important to me, which they seem to have done a great job with.
I'd buy a couple of low cost long term stock market investing books then. Read 2-3 of them. I use Schwab personally and my W2 job is with Vanguard now but i've had 4-5 companies with my 401k. Vanguard only has like 20 options with our plan.
I'd go something like:
60% large cap domestic (mix of growth, Value, etc. to your liking)
10% mid cap
10% small cap
10% international
10% emerging market
Again, as long as you are within 5-10% here or there you'll be fine. Some years you may do banging and some years you'll adjust it a little.
Honestly if you do something like 80% VTI and 5% of those other 4 you'll be fine too. Keep it simple, stupid to start. Expand as you learn.
This post was edited on 3/28/18 at 4:29 pm
Posted on 3/28/18 at 4:34 pm to baldona
quote:
baldona
Thank you, sir (or ma'am?)! I greatly appreciate the input.
Posted on 3/28/18 at 4:49 pm to S1C EM
I am trying to remember our old aggressive allocation. I think it was:
45% large cap ( I split equally between growth & value)
33% small/mid (I split equally with blend)
20% international ( I did 14% international and 6 EM)
2% cash
45% large cap ( I split equally between growth & value)
33% small/mid (I split equally with blend)
20% international ( I did 14% international and 6 EM)
2% cash
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