The Mutual Fund Store / A Wrapping of Deceit?
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 Derby next year as well. The odds are about the same. B) Wrap Fees. That's how they make their money. The are many people who consider wrap fees as fraudulent. You be the judge of that. But you should at least know what wrap fees are and what they mean for your portfolio. Read this link for some clarity.
Here is another one. http://www.byrneasset.com/images/Article-NJL-wrapaccounts.pdf
The Mutual Fund Store is an RIA firm cloaked in a Wrap Agreement. How can you tell? Ask them for any financial advice other than the allocation of your money into various mutual funds. That is all they will do. They are unable to provide any other financial advice. No estate planning, no tax planning, no insurance evaluation. It's nothing but a wrap program, which many consider fraudulent and barely legal. You be your own judge. Do your own research.
More The Mutual Fund Store Complaints & Reviews
- The Mutual Fund Store - Scam artists 
- Financial Engines (formerly The Mutual Fund Store) - Skull Duggery 
- The Mutual Fund Store - Wrap Account Warning
- The Mutual Fund Store - What are you paying for? 
- The Mutual Fund Store - Time to tell the truth 
- Mutual Fund Store - Service Not Provided
- Financial Engines - Radio Show 
- The Mutual Fund Store - Stealing Packets of Sugar 
- The Mutual Fund Store - Stupidity? 
- The Mutual Fund Store - Horrible Advice