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TRP increases IRA management fees and raises minimum for waivers....

AccipiterAccipiter
edited July 2011 in Fund Discussions
To those who it pertains to
For IRAs
If you have under a total of $50,000 invested with TRP and an individual fund has less than $10,000 in it, you will be charged a $20 annual maintenance fee (it has been $10 for years prior).

I believe if you sign up e-mail notification of prospectuses and statements the fee will be waived. Unfortunately, TRP does not know the meaning of moderation in marketing, and with e-mail notification requires you to get an almost daily message from TRP's marketing arm for anything and everything. At my last encounter, when I discontinued e-mail notification due to the flooding of my e-mail by the marketing folks, there was no way to request statements and prospectuses but no marketing, as it is with most other companies. The downside of paperless is that you are a victim to marketing spam. For those who like marketing spam, more power to ya.

Comments

  • msf
    Your page at TRP may look different, but when I go to update my email preferences, at the bottom of the page is a section: "other email preferences", with a check box in bold saying "opt out of all" - I no longer wish to receive any emails from TRP.

    The only thing I see as mandatory is that if one takes electronic confirms, then one is forced to get prospectuses electronically too.
  • AndyJ
    edited July 2011
    Accipiter, I'm signed up for electronic subscription to reports, prospectuses, statements and confirmations, and receive no marketing e-mail. As I recall, you can pick the statement etc. choices and uncheck all the other boxes at the bottom of the page, and you'll get the former without any of the marketing schtuff. (I do think it's worth it to get the two newsletters, though.)

    Also note that TRP is changing its 90-day round-trip frequent-trading rule as of Aug 1. They're going to a 30-day freeze on purchase of the same fund in the same account type after a sale of same. Much, much improved ...

    Cheers,
    AJ
  • AccipiterAccipiter
    edited November 2011

    minimum balances of individual funds was raised from $5,000 to $10,000 to avoid the maintenance fees.
  • hank
    edited July 2011
    Thanks Accipiter,

    Dont like sound of it. Sounds like the rich getting richer and the poor getting ^#$^&*!. Penalizes little fella trying to diversify and get a start on a IRA. Hundred bucks every year for 5 funds.

    But I like Price for its quality funds, integrity, and generally good treatment of clients. We've made sure to meet their 50k minimum. They know this and probably figure more will shift funds their way to avoid them dastardly fees.

    Course you can make a case on the other side. Its true we dont notice them hidden fees as much in the ER and other expenses. And should your manager screws up big time, will cost ya more than 100 dollars. So she goes...



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