Where to get an IRA ROTH

[Guest mlconsumer]

I am looking for the best company to have my IRA ROTH with. I am currently with Ameriprise but I feel they are taking too much of my investments. Can anyone help?

[Belgarath]

Thou seekest the Holy Grail.

In my humble opinion, no such thing as a "best" company exists. So much depends upon your individual needs and preferences. Is your risk tolerance conservative, moderate, or aggressive? How much money do you have to invest? What's your age and expected timeline? Must the investments be "socially targeted?" Do you intend to spend all the proceeds, or is leaving a legacy important to you, and if so, how much of your estate do you expect to be in the Roth?

Etc., etc., etc...

So while some folks here can, and probably will, give you some good ideas, possibly including specific investments and/or companies, as well as "independent" sources to use as a tool in evaluating some alternatives, I don't think anyone here could possibly tell you, honestly, what is the "best" company for your funds. What is best for someone else might be completely wrong for your particilar circumstances.

Good luck.

[masteff]

Do you have a 401(k) at your employer? If so, that investment firm may waive fees if you also open an IRA with them. However, many firms waive fees if your balance is large enough (it varies how much, $25,000 being a general ballpark).

Don't forget that you can also invest directly with some mutual fund companies. This has the advantage of not having to pay annual account maintenance fees (but check w/ the fund company as I can't say it's 100% true). But the disadvantage is if you want funds from different companies then you have to open multiple accounts; it also makes it harder to move from one fund to another (primarily if the other is with a different fund company); and, some fund companies have higher minimum purchase requirements for direct purchases then they do thru brokerage firms.

My best advice is to go visit the Motley Fool website, dig thru their educational information and browse their boards to see what investment firms people there like or dislike (and why they feel that way).

[GMK]

... it also makes it harder to move from one fund to another (primarily if the other is with a different fund company);

I have never had a problem with this, but I don't know in general. Otherwise, masteff is on target.

For mutual funds, I look at keeping costs low (expense fee, other fees, no loads, etc.). My only justification for paying higher costs would be consistently higher returns, compared to the lower cost fund.

[masteff]

I have never had a problem with this, but I don't know in general.

I may have slightly over-portrayed the mole hill... my IRA lets me do a combined sell-purchase so I can move directly from one fund to another with a single transaction, even across fund families. If my money were directly invested at, say, American Century and I wanted to directly invest in, say, a Vanguard fund, it would take a couple days plus minimal paperwork on both ends. Point being it's not immediate and does require some effort to move a direct investment between fund companies.

[GMK]

it's not immediate and does require some effort to move a direct investment between fund companies.

I'm with you on that.

And it's hard to over-portray a mole hill when it's in your own yard. Pesky varmints.