Hi All,
I own an industrial painting company with 10 people currently, including 3 who are owners. We intend to grow the business in the coming years, as us owners are all around 30 years old with lots of energy.
I'm wondering where is the best place to set up our retirement accounts. I've met with two local outfits, they're financial advisors/wealth managers. Of course they make a good argument for investing with them. For IRA's, they charge I think roughly 1% AUM yearly. For a company 401k, its .25% AUM yearly. One of them is a proponent of American Funds, and I don't remember the other. I asked about the front/back loads on American Funds, and they said that there aren't any on the 401k side, only for IRA's. Wasn't sure if I understood it correctly or if they're telling the truth. They do come highly recommended in the local community.
I also looked into Betterment; what do the stachians think of Betterment?
Reading The Simple Path to Wealth has me wanting to avoid them ("normal financial advisors"). But I can't do a 401k for the company by myself. I've done some searching, and found mentions of Employee Fiduciary and Guideline. Although nobody has really written a follow up to explain what they went with and how its working so far.
Looking for recommendations please and thank you!