The complaint has been investigated and
resolved to the customer's satisfaction
The Mutual Fund StoreWhat are you paying for?

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 is the manager going to say? "I suck, don't use my fund." You get my point. I talk to the salesman at the car dealership before I buy a car too. Big deal. So Bold says he has a "Select List" but you never get to see it or know how and what gets a fund added or removed. All the Mutual Fund store will do for you is take your money and allocate it across the funds from this "Select List." For that you are charged minimum $750 per year. (That is based on a $50, 000 account. Let's say you have $250, 000, then the exact same portfolio, percentage wise in the same funds, will cost you $3, 750 per year. Guess what! Schwab has a Select List too. The difference is they show you all the funds that are on it, they detail exactly what puts a fund on or off, they constantly monitor the funds, and update the list quarterly and email it to you. So lets say you have that same $50k or whatever size account you have, you can create your own customized allocation or you can use pre-built models based on a questionairre, like consertive, moderate, aggressive and so forth. Then all you do is click the button and you can buy all the funds in the exact allocation you want. It takes at most about 15 minutes to familiarize yourself with their tools and options, and you can always call and talk to a Schwab consultant and never have them say "he's in a meeting, he'll call you back in 2 hours." Best of all, there is no charge from Schwab for doing the exact same thing the Mutual Fund Store claims to do. How do I know all this? Because I was once a client of Mutual Fund Store. I got fed up with "he's in a meeting" and no other advice other than put 10% in Fund X, and 15% in Fund Y and so on. I saw nothing as far as returns to even pay for the fees I paid them. Schwab is wonderful, easy, informative and the price is right! Let's say you don't even want to click the button yourself. Well Schwab has an allocation service EXACTLY like Mutual Fund Store that only will cost you $250/yr on that $50k account or $1250/yr for the $250k account. So that's my two cents for you. Check it out yourself though and you will discover how much you can save by eliminating the "middle man" known as Mutual Fund Store.


  • Fl
    FLOATINGDOC Jul 28, 2012


    0 Votes
  • Wi
    Wish_I'd_known Jul 19, 2012

    I put my retirement accounts under the management of Mutual Fund Store in July, 2008. As of July, 2012, my total internal net rate of return over 4 years, after fees, is -- get this -- 3.2%! Their management fees were twice as much as my investment gain. I would have been as well off with CDs and slept much better at night. Stay away from Mutual Fund Store. At best, they are incompetent advisors.

    0 Votes

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