My non-matched 403b (mutual funds) has 1.6% fee charge. Could an individual Vanguard account do better for me

I would consult with Fidelity investments ... see what they have to offer or recommend.

Frankly, I think your employer is as much to blame as your financial advisor. It's possible that the employer has requested changes in the plan (perhaps to cut fees to the employer), and the advisor has obliged. Your employer has a fiduciary responsibility regarding the expenses and to some extent even the performance of the plan. I'd want to question why all the changes have occurred, and if you are not happy with the answers you can even complain to ERISA-and you can do it anonymously! Your complaint will definitely be investigated.

However, all the above notwithstanding, I will say that American Funds has a very fine platform, and the performance should do well enough to outweigh the 1.6% expense. They are a tried and true fund company and their performance has been excellent over many many years.

The other answerers are correct when they say that you cannot invest in a 403b on your own, and it cannot be rolled over into an IRA until you leave the employer.

You could however also invest in a Roth IRA on your own. The caveat here is that you probably could benefit from some professional advice. However, if you are diligent and want to do your own research, I'd suggest using Vanguard Funds and taking advantage of all the information they have on their website.

I'm assuming you work for a non-profit. You are stuck with the plan your employer offers. 1.6% is pretty high. You can do much better in a self-directed plan. But you can't take your 403(b) money with you and roll it over into a rollover IRA unless you leave that employer. If you can find a private sector job that would compensate you about the same, I would seriously consider it. The fact that your employer pays you no matching funds is an even bigger temptation.

If that is not an option, you may want to consider stopping your contributions. Yes, you will lose the tax-deferred benefit, but high fees and poor fund choices can limit your growth potential to the point that setting up a Roth IRA and putting your money there may outperform the 403(b). And every penny of earnings in that account will never be taxed. In addition, should you ever need money in a hurry, you can withdraw Roth contributions without penalty - it was your after-tax money - as long as you don't touch any of the earnings until you reach retirement age.

Most fee based or managed accounts charge between 1%-2% a year. I would be less concerned about the fee and more concerned about the adviser. You may want to look for someone that is a CF (Certified Financial Planner) If you have $2,000,000 to invest then you need to go into a consult with an open mind and some objectives. If you go into a meeting and the adviser without asking you any questions offers you a solution then I would be very cautious. Ask yourself these questions before talking to somebody. - How old are you? - When do you plan on using the funds and how much do you plan on using? - What is your tax situation? - Do you plan on receiving a stream of income from these funds? - Do you have life insurance, if so when was the last time your policy was reviewed? - Are you investing for yourself or for your heirs? I know you mentioned mutual fund companies, what you meant was brokerage companies. Mutual funds are not tax efficient so I highly doubt you would be investing in mutual funds, unless they were tax free municipal bonds.

The real issue here is not the administrative fees but the movement that is going on in your 403b. Ask your benefits person why there is so much changing going on. If you don't get a reasonable answer you can write the IRS or FINRA (NASD)

If you want out altogether look at a Roth IRA. You can contribute 4k into that. I wouldn't abandon profession help at this point. You will need a professional even if you open a Roth. Its too easy for you to make the big mistake without one.

You need to dump using that financial advisor ASAP....if he "changes plans" that either means he figured out he was wrong before FOUR TIMES(!!!!), or he's just deliberately generating fees for himself. He may be in violation of some ethics laws.

You might want to consider opting out altogether, and setting yourself up an IRA with someone like Vanguard, who have many low- or no-fee options. It makes your tax return slightly more complicated (though not THAT complicated), and if it makes you more money, that's all that counts!

The idea that he would get "annoyed" at you is, frankly, hilarious! Would you EVER go back to a restaurant where the waiter got annoyed because you didn't order what he wanted you to order?

The more I think about it, the more I think you should discuss this person's actions with your HR department and with his boss, or bosses' boss....

Good luck.

Remember, that's YOUR money, and YOUR retirement, it exists to look after you later in life, not to help him make his boat payment!

I agree that 1.6% is excessive. Make your displeasure known to your employer. They have a fiduciary duty to provide a reasonable set of investment options. Tell them you want to see some no-load mutual fund options in the plan. And don't back down to that "advisor" even if you need to be rude. YOUR money is paying him, indirectly.

Given the existing plan, it appears that you can either live with it, or cease participating and invest on your own. A Roth IRA is always possible, but it doenn't give you the tax-deferral advantage.

A little advice: any fees over 1% for any investment are TOO MUCH! Invest directly with T. Rowe Price, Vanguard, or Fidelity and you will come out much better.