Has anyone else received calls from Empower to discuss your 401k? I've received a few messages. Sounds like they may want to push people into choosing them as the investment advisors so they can get the commissions, fees, etc?
11 replies (most recent on top)
Yes, and I ignore them.
Self-managed and index funds, people. Once the fees are taken into account VERY few managed funds offered in 401k plans (especially ours) beat the S&P 500 index over the long term. It's not worth the hassle to go managed.
I don't answer calls from unknown people. Once I retire I'm going to a whitelist system. If I don't know you, it won't even ring.
CHECK THE FEES! Empower wants $FIVE DOLLARS$ for every thousand you invest annually to "manage" the "Large Cap" funds. This is a giant rip off.
That amounts to $500 bucks a year if you have only $100,000.00 in only that one fund. Compare that to Vanguard who charge .39 cents per thousand.
Multiple emails at work. I set up a rule in Outlook to have them automatically go to the delete folder. Go online and look at reviews for Empower. Terrible.
I haven't, but it seems odd that Empower would cold call us.....
Nope but then again my phone silences spam calls. I set it up that way.
You'd think WFC would have built in a restriction for Empower to do that. Considering WFC has their own brokerage firm
Yes and they are very aggressive.
Yep, constantly. No, thanks.
Nope. Just emails. Last I checked, every single one of their eligible products is currently down. Though, I recall the money market account is up. Don’t waste your money. You don’t need to waste your money on a financial advisor only to tell you that your account is down to the market conditions.