Financial Engines (formerly The Mutual Fund Store) Review


They say they pick the best Mutual Funds and always monitor them. However, most of the funds they put me in were rated poorly by Morningstar, such as 2-3 stars. When I questioned the advisor he really had no answers that made any sense. He just said those were the “best funds according to their OWN research.” I asked for details and he couldn’t give me anything. I asked him to give me some info on these funds and all he told me was the managers name and said I could read the prospectus if I wanted to know more. “What in the world am I paying for”, I ask? He said, “we allocate your portfolio”. I can do that myself I said. Then he seemed to get flustered with me and said he had another meeting and he had no more time for me. You pay them a lot of money in fees. I figured if kept my account with them for a full year I would be paying close to $1900. This is extremely expensive and I expect a hell of lot more in service for that kind of money. So I told them to take a hike. I think this company is not worth your time.

This review (Financial Engines (formerly The Mutual Fund Store) Review) was originally published at Skeptic Files.

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