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The Mutual Fund Store Complaints & Reviews

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The Mutual Fund Store - Skull Duggery

Posted: 2011-07-22 by    King 4 Ever
Complaint Rating:  37 % with 46 votes
I must take exception and voice my opinion of what I hear from this radio program. All they ever say is the market is going to go up and you need to be fully invested in stock and bond mutual funds. The voice tells you they will find the best mutual funds for you. But I am here to tell you, the market is for trading only. No one is going to make money by owning mutual funds unless they trade and time the market. You ABSOLUTELY must not be in these funds when the market is moving sideways or is heading lower. They say you "get to be a long term investor." What does that mean? Ask the people...
Complaint comments Comments Complaint country United States Complaint category Savings & Investments

The Mutual Fund Store - Iowa - Radio Show

Posted: 2011-07-15 by    Zambroski
Complaint Rating:  85 % with 20 votes
This show is new in my city. The first couple weeks I thought it was about "advice" and investing. Then it became apparent that this is a commercial for this business. I don't quite get why anyone needs someone to find mutual funds and pay them thousands of dollars to do it. There are so many ways to do this yourself with just a little time and effort. All the good financial publications like Barron's, Kiplingers, WSJ, or a myriad of other offerings supply a reader with more than enough information to pick quality mutual funds for the price of a lunch. This doesn't even...
Complaint comments Comments Complaint country United States, Iowa Complaint category Savings & Investments

The Mutual Fund Store - Wrap Account Warning

Posted: 2011-06-24 by    Morti Quinn
Complaint Rating:  76 % with 21 votes
Adam Bold's Mutual Fund Store is a network of franchisees who operate under the guise of calling themselves, "financial advisors". But in my mind a financial advisor should do a lot more than just press a couple buttons and print out a pie chart, fill out contracts and paperwork to transfer your account, and then press more buttons to sell your current holdings and buy the funds they recommend. Yes, these people have the required SEC designations, but ask them any other questions having to do with taxes, estate planning or anything else and they say they can't do it. All they...
Complaint comments Comments Complaint country United States Complaint category Savings & Investments

The Mutual Fund Store - Time to tell the truth

Posted: 2011-06-23 by    Be Honest Bold
Complaint Rating:  100 % with 13 votes
For some stupid reason I listen to Bold's commercial/radio show every Saturday. Probably because I'm just too lazy to change the radio station and it comes on automatically with my coffee maker. I'm not a client, and not a competitor. I've never met any0ne from the company so I have no axe to grind other than just years of chuckling over this program, which is nothing but a paid advertisement. At least they state at the end of the show, which they began doing just a couple years ago, probably because they were told to do so by some regulatory body. The problem I have with this...
Complaint comments Comments Complaint country United States Complaint category Savings & Investments

The Mutual Fund Store - "Special" Algorithms

Posted: 2011-06-02 by    Orinthal
Complaint Rating:  63 % with 8 votes
Adam Bold says they use "special" algorithms to manage money. I suggest you run away from any money manager who uses the phrase "special algorithims". AIG was using special algorithims as was Long Term Capital Management, as was Lehman Brothers, as was Bear Stearns. Need I say more?...
Complaint comments Comments Complaint country United States Complaint category Savings & Investments

The Mutual Fund Store - Stealing Packets of Sugar

Posted: 2011-05-31 by    Captain_Queeg
Complaint Rating:  63 % with 16 votes
Bold loves analogies. He compares investment managers to quarterbacks, golfers and baseball players. A worthless analogy in my humble opinion. Bold tells the story of his grandmother who steals packets of sugar from restaurants because she lived through the depression and remembers suger being rationed. He points out other things being rationed as well in those days; coffee, meat, tires, cars...he does not tell us if his grandmother steals any of these items for the same reason as the sugar packets. But he appears to justify that it would be ok to do so, since she's only doing it because of...
Complaint comments Comments Complaint country United States Complaint category Savings & Investments

The Mutual Fund Store - What are you paying for?

Posted: 2011-05-25 by    Helmut9
Complaint Rating:  100 % with 43 votes
If you open an account with them, they transfer your account to Charles Schwab brokerage. No big deal there. Schwab is great for the retail investor, that is as long as you don't have a 3rd party advisory contract in place. If you do, you don't get any of the benefits that Schwab offers. They tell you they use a "select list" of funds that are selected by and researched by Adam Bold and his assistant. They will NOT tell you what the research methodolgy is comprised of. "That's proprietary" you are told. They will tell you they talk to each manager. So what? What...
Complaint comments Comments Complaint country United States Complaint category Business & Finances

The Mutual Fund Store - Stupidity?

Posted: 2011-05-17 by    Sweet Mo Lasses
Complaint Rating:  73 % with 15 votes
Is Adam Bold really as stupid as the things he says? I don't know. I can't believe anybody could be as dumb as the things I hear coming out of his mouth. So I give him the benefit of the doubt and assume he says the things he says to keep his clients buying his services. Anyway, some guys calls in to his show and basically brings up the issue that commodities and precious metals have dramatically risen in price because of the devaluation of the US dollar via the government printing press. Yea, the caller is completely right! The caller points out, that stock prices have also been propped...
Complaint comments Comments Complaint country United States Complaint category Business & Finances

The Mutual Fund Store - Wastes time

Posted: 2011-04-14 by    Bad Breath
Complaint Rating:  78 % with 9 votes
The radio show they have is an hour long infomercial. They should be on in the middle of the night with the Sham-Wow's of the world. Nothing useful about this program. Don't waste your time....
Complaint comments Comments Complaint country United States Complaint category Business & Finances

The Mutual Fund Store - Kansas - Horrible Advice

Posted: 2011-04-06 by    Liquid Spoon
Complaint Rating:  67 % with 6 votes
Gold, Silver and oil have quadrupled over the last 10 years and the ENTIRE time Adam Bold has been on his weekly radio show telling people over and over not to invest money into these asset classes. His mutual funds have done absolutely NOTHING for a decade and yet this guy acts like he knows what he's talking about. This weekend one of his lackeys makes the statement "the easy money has been made in natural resources, so we don't like that category". IF it was so "easy" why didn't Adam Bold ever suggest it? I can't believe the brain dead drivel that comes...
Complaint comments Comments Complaint country United States, Kansas Complaint category Business & Finances

The Mutual Fund Store - A Stopped Clock

Posted: 2011-03-24 by    Pete Griffin
Complaint Rating:  57 % with 7 votes
Bold says he's been pumping mutual funds on the radio since 1998. It's true. In 1998 he was blabbering on and on about technology stocks and funds. We all know how that turned out. After tech burst he started pumping financials and financial services. We all know how that turned out. He sounds a bit directionless at the moment, since he can't really jump on the current bubble; precious metals, so he seems to talk about basically nothing over the course of his one hour infomercial. He spends a lot of time talking about the nearly 50% rise in stocks since March of 2009 and tries to...
Complaint comments Comments Complaint country United States Complaint category Business & Finances

The Mutual Fund Store - A Wrapping of Deceit?

Posted:    A Dill Pickle
Complaint Rating:  72 % with 39 votes
I examined the promises this company makes. A) They say you will own the "best Funds". What is the definition of best fund? There aren't any other than past performance. Do you want to invest based on past performance? How hard really, is it to move your money to the funds sporting the "best" past performance AFTER you know the results? Not very difficult I would guess. Does the company have any predictive powers of what the "best" fund will be in the next 12 months? You can be judge of that. But while you're at it, please tell me who will win the Kentucky...
Complaint comments Comments Complaint country United States Complaint category Savings & Investments

The Mutual Fund Store - Poor Service, High Fees

Posted:    Len7110
Complaint Rating:  92 % with 26 votes
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...
Complaint comments Comments Complaint country United States Complaint category Savings & Investments

The Mutual Fund Store - misleading advertising

Posted:    disappointed in LaPorte
Complaint Rating:  78 % with 23 votes
Thank you, Conejos. The previous poster missed my point entirely. When I'm investing a large, 6 figure, amount and am promised personal quarterly contact, that is exactly what I expect. I'm happy that I fired the MFS and started seeing a real advisor....
Complaint comments Comments Complaint country United States Complaint category Other

The Mutual Fund Store - Scam artists

Posted:    Valerie
Complaint Rating:  75 % with 491 votes
Here is the scene. There are a group of financial planners sitting around a table and one says, 'I have an idea. Why don't we stop charging commissions and just charge a small annual management fee.' This way we will make less money and the client will make more'. The reality is the planner makes more although it sounds like a better deal for the client.

This is the easiest lie to sell in the financial services business. 'We do not charge a commission, we only charge a small annual fee'. You hear this guy, Adam Bold on the radio every weekend telling...
Complaint comments Comments Complaint country United States Complaint category Products & Services

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