i wanted to invest in mutual funds at suntrust bank? but?

Question

when I talk to the investor at my bank about investing in mutual funds he said they only do that if i had 25000 in the bank to work with. is that true? after he saw my balance of 25000.

Answer 1

///Suntrust fees seem high to me. Check out Fidelity.com.

Suntrust Monthly Maintenance Fee

Free if maintained at $25,000 or more in Minimum Combined Balances*** OR $50,000 or more in Total Relationship Balances***
$25 per month if above balance requirement is not maintained

Annual Fee
Free if maintained at $250,000 or more in Minimum Combined Balances*** OR $500,000 or more in Total Relationship Balances***
$100 annually if above balance requirement is not maintained

Answer 2

Banks and Insurance Companies are the wrong place to take your long term investments. There are a few funds that take minimum investments of $25,000. That doesn't make them good.

Loaded Mutual Funds are costly. The cost to invest in loaded funds (sales commissions) on $25k would be around $1437.50. A good no load Mutual Fund company will do the same without paying an advisor. Look at;
Vanguard
R.Rowe Price
Oakmark
Fidelity
Dodge & Cox

Or...... work with;
Schwab
Fidelity Brokerage

Costs will be less. Performance is not based on "load". In fact it's against the law to imply it is.

Better to go to a well known brokerage for advice. Better yet.... invest in no-load Mutual funds

Answer 3

Dont do that
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