Mutual fund companies looking to increase product offerings beyond their wealthy client base are offering free financial checkups or inexpensive plans for less affluent households, according to Ohio's Akron Beacon Journal.
At Vanguard, the no-load mutual fund company, clients with more than $250,000 in assets or who deposit $100,000 in new assets are able to speak by phone with a salaried certified financial planner, who will draw up a customized financial plan and perform a checkup a year later, for free. For customers with less than the minimum assets the service costs $1,000.
Fidelity has free planning and diagnostic tools online or at any customer-service center, although employees are not certified financial planners. T.Rowe Price offers account holders with more than $100,000 in assets a customized retirement plan, a portfolio assessment and free annual follow-up meetings for $250.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.