Since USAA is only accessible to active military & vets, I figured I could post this one here.

Anyone have any experience with USAA's Managed Portfolios (UMP)? I'm specifically looking at the conservative marketplace approach. Any input is greatly appreciated! Being a former groundpounding snuffy, I haven't done to well managing my money.

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Since USAA is only accessible to active military & vets

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I've been a member of USAA since I was 16 and have loved it. At one time it was accessible to only the group you mentioned above, but they have changed their policy some to allow anyone who is the son/daughter of someone who served, and if I had never served I could pass it on to my kids and they could have it as well.

Anyway, to get back on track, USAA Financial Services have been very good to me. Just speak with someone about what your desires and goals are and they can get you pointed in the right direction. At times, I've taken the lead in making some decisions about which direction I wanted to go and more often than not it probably wasnt the best choice, but they have always been very helpful.

Just as mentioned above, USAA will provide free financial advice. I have used them a couple times with IRA's and their recommendations have been doing well.

Have an idea of what you want to do, and they can point you in the right direction.

Their managed portfolio service sounds fine for your investment goals.

In my experience their financial planners were quite vanilla with regards to their advice, and the vast majority of the funds that they will have you investing in are pretty well diversified. Their approach was very conservative, and even the funds thay offered as high risk/high reward were on the more conservative side of that spectrum.

That was exactly my problem with their service: I know how to build a solid, vallue-based, low-risk portfolio, so why should I pay someone else to do what I'm capable of doing on my own. For others who are less knowledgeable about the subject, I think it would be a good service.

I have been a member of USAA for over 45 years. I use their investment services and have not experienced a problem, acutally I am pleased. For a fee, I purchased their Fund Advisor services. My profile is a moderate risk investor. Since mid 2009, the returns have been about 9 percent. I don't touch the money and all dividends are re-invested. I trust USAA before I would approach an outside advisor. Note that I don't have all my savings with the advisor as I also do my own investments.