I will be inheriting an IRA soon and would like to discuss my options with someone.

Any recommendations would be appreciated.

Over or under $1 million? You can email me your answer. I am in the business but not in the Woodlands. The one I recommend has a $1 million minimum.

I work with Tim Montfort at Raymond James.
tim.montfort at raymondjames.com

Thank you all. < 1 million.

Bump

I use the Chappell Group (Merrill Lynch).

Do you like what they are doing?

I know Rob Chappell from outside my Merrill Lynch relationship. I trust him completely as I've known Rob to be one of the most ethical people I've ever met. Rob has assembled a team that really checked the box for me. When I went searching for financial advisors, I wanted someone that was a CFP at a minimum. Rob's team, particularly my advisor, has a CFA and has also passed all of the actuarial exams. Rob's team has every designation I could want. Furthermore, Rob himself has not taken on a new client in over 20 years. This tells me that his clients stay with him.

As far as whether I've been pleased with them, it's still too early to tell, but my experience thus far has been very positive. Not sure what the teams' financial thresholds are, but I do have assets greater than $1,000,000, but I only turned over about a quarter of that to Rob's team. They were very upfront with me. They told me that they'd never advise me to make a move that would be detrimental to my own portfolio. For example, they could have tried to move my Fidelity 401k over to Merrill Lynch, but refused it because they could not compete on the fees.

I asked them how they intended to make money off of my account. Their response was that they take a very long term view of their clients and said they'd hope to manage more of my assets once I was retired, etc.

Any recommendations for anyone with experience with annuities? My MIL has a few and some dude is trying to get her to roll into a new annuity among other things. I would love to have a third party that is not in love with insurance products take a look at everything.

They didn't do the roll over because their new system won't let them roll a retirement account into the ML One platform.

I hate to burst your bubble, but if they could have rolled you into ML1, they absolutely would have as it's a metric used to determine net payout. In fact, it helps them across multiple metrics.

I used to work at ML, and 99% of the Advisors are garbage. They get told what to sell, and peddle it. It's borderline humorous, and the reason I moved to a private firm.

Dimensional is a much better and more robust platform with empirical based ideas.

Merrill is a joke. Goals based wealth management. I'm sorry, but they try and reinvent the wheel while getting kickbacks on a quarterly basis. It's almost criminal.

When they banned C share trades in retirement accounts, about 1/3 of the downtown houston Office bailed.

They don't have yor best interest in mind. They have your best interests in mind assuming it aligns with them reaching their hurdles.

If it doesn't, they will peddle their "feeless" market
Linked investments.

Nestor Vicnair is probably the slimmest SOB ive ever met (Gladstein Reichek is second), and ML loves
him because he knows how to steal from your grandma with a straight face while lining his pockets and generating revenue.

I wanted to pass along my wife's information. She is a financial advisor, and an Aggie. She works for an independent wealth management firm in the Northwest Houston area. Her firm does not require account minimums. Could you DM me an email address that you could be reached at? She told me she would love to learn more about your situation and how she can help out.

Nick Erwin: Advanced Planning Group with US Capital Advisors. They are the best Advisors I've ever been around.

713-343-4972

http://www.uscallc.com/about-usca/team/advisors/nicholas-l.-erwin-cfp

Jimbo Fisherman said:

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Nick Erwin: Advanced Planning Group with US Capital Advisors. They are the best Advisors I've ever been around.

713-343-4972

http://www.uscallc.com/about-usca/team/advisors/nicholas-l.-erwin-cfp

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Todd Lavergne's group? You really should get out more. USCA is a chop-shop with very little history yet significant FINRA claims levied and awarded against them already. It's public record. You can google it.