I talked to my boss about switching our simple IRA over to Vanguard. We're currently using Lord Abbett through a local bank. I noticed that Lord Abbett has high load fees and that their expense ratio is quite a bit higher than Vanguard. My boss says that we have to have someone managing our simple IRA so he wants to talk to the bank about adding Vanguard or switching to Vanguard. I didn't think the bank would be very receptive to this given that it would lower what they make. Any tips on this?
Can anyone help with giving solid evidence (numbers?) of why a switch to Vanguard is better than Lord Abbett? I think the expense ratios alone should be enough personally, but I'm sure some numbers would help. I can try to come up with some on my own, but I haven't been investing that long.
Most of us have at least some money in the Affiliated A fund. This fund doesn't seem that bad to me with an expense ratio of .85%.
Also, if I'm just completely wrong and Lord Abbett is better than Vanguard, please let me know.
