Originally Posted by
PurpleToolBox
I agree with don't take blind advice from a pilot. HOWEVER, I put the management of my 401K in the hands of Fidelity Executive Services and they junked it all up. Although they had my request to be very risky with the investments, they sold funds that were making huge gains for funds that were actually negative for the year. I couldn't believe it. Don't take their word as gospel. Get a second opinion.
That sucks, for sure. I have never had them manage anything, nor asked for advice. But they do seem to be competent when you tell them what you want to do (ie rollover your funds to an IRA or Roth IRA, conversions, etc). If you talk to anyone other than Executive Services, you'll be explaining yourself several times until they finally send you over to Executive Services. Then you explain it again.