Using FeeX can help you build your retirement accounts by lowering the fees you need to pay.
One of the easiest ways to take care of your finances and save a substantial amount of money is to eliminate all unnecessary service charges and fees associated with your accounts. This can be a real challenge since nearly all investments have fees. However, if you don’t do anything about it, you could be one of those who are bound to lose about one third of their retirement savings to fees. Thankfully, there is a tool that you can use to save you from this dilemma – FeeX.
What is FeeX and how can it help you?
FeeX is a SEC-registered investment adviser service that helps you reduce the fees associated with your IRA, 401(k), 403(b), 457 and brokerage accounts. The service allows you to keep as much of your money as possible so you can add it to your future savings and not lose it to excessive fees.
You may not be aware of it but you are being charged with a number of fees for each of your investment accounts. Here are some of them.
- Expense ratio – Most mutual funds, ETFs and even some no load funds charge an expense ratio ranging from a fraction of a percent to more than 2% of your balance
- Plan fee – Some 401(k) plan providers charge a plan fee for the simple reason that they are holding your money for you
- Advisory fee – While these fees seem negligible, they can easily add up. Thankfully, these fees are negotiable.
- Transaction fee – “Pay to play” fees are charged every time you buy or sell
- Other fees such as wrap fees, upfront sales loads, back end redemption fees, account maintenance fees, etc.
Please take note that the service does not evaluate your investment strategy. It merely helps you discover similar low-fee alternatives that can give you better returns without having to pay exorbitant fees in the process.
How does it work?
It only takes a few steps to start using the service. To start, you need to create a free account (no credit card needed) and link it your investment account. FeeX would then scan your account for hidden fees and show you how to reduce or eliminate these fees. While the service can analyze your accounts for hidden fees, it guarantees that it cannot and would not touch your money.
So, what does FeeX get from all of these? While users are not charged anything for using the service, FeeX does have a referral arrangement with some of the financial service providers.
Don’t leave money on the table. Consider using this service so you can keep your money and enjoy a more substantial nest egg during your retirement.