[ItalianFX]

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I love how people tell you that your financial adviser is screwing you and you still listen to the advice. I'm not sure if your mom is aware of it but the financial adviser is definitely aware of it.

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I understand what they are all saying. Isn't there some kind of fee for not holding longer than a year?

I got into American Funds because while I was in the Police Academy, one of the guys in my class was a financial advisor and he recommended them. I opened up an account through him. He said that he got paid based on the amount that the people invested through him, not with the fees that were associated with the funds. It sounded good so I did it. Plus, I just wanted to get my money working.

So the main reason why I'm sticking with those American Funds is because I thought there was something to do with not holding at least a year? No?

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There's only a penalty if you withdraw money from your IRA. As for your adviser, he is either:
1. Lying
2. A [censored] adviser

I guess there could be a fee that American Funds might charge, that's something you'd have to check out. If so, just wait a year and transfer your money. Not too big a deal.

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The person I am going through now is not the same person as the guy in my police academy. I'm going to look into the fees. I'm actually thinking about withdrawing my money from American Funds and looking into some personal active management while keeping my IRA in Fidelity.