Expert: Docs99 Date: 9/1/2003 Subject: the local bank or the mutual fund company
Question Hello,
Thank you first of all for taking my question.
I have some money that I have set aside that I wanted to invest for the long term(10 yrs), in an us stock index fund. I am debating weather or not I should open an account with a no-load family such as Vanguard or simply buy such a no-load index fund through my bank, which I have all my accounts (checking, saving, credit card etc) with. The reason I have been considering buying mutual funds through my bank's brokerage is simply because I like to keep things simple and not have accounts scattered here and there.
However, I do not know the pros and cons of this and I'm not sure if I'd be better off investing directly through the mutual fund company. I would like your opinion on this.
Thank you,
atam
Answer Dear Atam:
I cannot furnish you with investment advice. You may want to meet with your insurance agent or registered rep and discuss these issues directly with her. You may also want to do an investment profile and a needs analysis, as well as getting all the relevant information, before making a decision.
