Primerica Mutual Funds....Good/Bad Idea?

[hsd1]

I am considering putting money in with the Primerica's mutual funds. As i am browsing over the internet some people have great thigns to say, others have bad things (mostly about the employees). Have any one of you gone into mutual funds with Primerica and if so, how was your return? Is it a good idea to invest with this company?


And if not...i have capital to play around with, where do yousuggest i go?

[Primer]

Primerica sells all the same mutual funds that you can buy pretty much anywhere.

The advantage Primerica offers is that you have a personal agent for service and a comprehensive Financial Needs Analysis that is complimentary for all customers.

[Blunt]

The advantage Primerica offers is that you have a personal agent for service and a comprehensive Financial Needs Analysis that is complimentary for all customers.

I would just question how qualified this agent is, since all that is required is $200 to get the job.
I personally don't believe in complimentary services. How good of a job do you think a person would do without getting paid?

[DanielCarrera]

I am considering putting money in with the Primerica's mutual funds.

Can you provide a link to the specific mutual funds that you are thinking about? I couldn't find anything on their website. What is their MER? What do they invest in? Could you accomplish the same thing using low cost index funds?

how was your return?

This information should be available from their website. The mutual fund's prospectus should say this. Don't just rely on some stranger on the internet saying "the return was good/bad". Also note that past performance does not indicate future performance. Don't just extrapolate the past.

And if not...i have capital to play around with, where do yousuggest i go?

A good coince is index funds from TD Bank or Altamira. Both have low MERs. CIBC has a wider selection of index funds, in case you are looking for something very specific, but their MER is higher, so I think TD and Altamira are better.

Try to figure out what your proper risk tolerance is. You could buy a copy of Random Walk down Wall Street by Malkiel. Then you would be making a more informed decision.

[DanielCarrera]

Primerica sells all the same mutual funds that you can buy pretty much anywhere.

I couldn't find anything on their website. Do you have a link?

[iluvmikeharris]

Scam/cult/ripoff. Stay away.

[hsd1]

Daniel thank you for your information, I will get back to you on the specific funds in a couple days. Much appreciated.

[Primer]

I would just question how qualified this agent is, since all that is required is $200 to get the job.

That's not actually true. There's education and industry standard examinations that need to be passed. Also there are the normal background and criminal checks required to be licensed.

I personally don't believe in complimentary services. How good of a job do you think a person would do without getting paid?

That's a misunderstanding. The Analysis is complimentary, but typically agents are paid commissions for selling products recommended in the Analysis.

You can buy the same funds somewhere else, but you wouldn't get an Analysis and you'll still be paying commissions.

[don242]

I couldn't find anything on their website. Do you have a link?

Primerica sells the same funds as most everyone else. You can get Altimira, AGF, Trimark, etc. through Primerica. Just like many financial companies, they sell the funds. The MER is the MER for the specific fund, so if you buy a Trimark fund, look it up on the Trimark site to find the MER.

[hsd1]

The rep i am working with has stated that they are just here to salesmen and that my money is being worked with the professionals at the actual building who handle everyone else's money, he looks very trustworthy and honest as i have had multiple meetings with him. So as of right now, all the rep. stories i have heard, i feel would not apply to me right now. But has anyone invested with Premerica here?

[don242]

The rep i am working with has stated that they are just here to salesmen and that my money is being worked with the professionals at the actual building who handle everyone else's money, he looks very trustworthy and honest as i have had multiple meetings with him. So as of right now, all the rep. stories i have heard, i feel would not apply to me right now. But has anyone invested with Premerica here?

I have invetsed in a number of mutual funds that were done through Primerica. As I said, Primerica does not manage the funds. They are just the sales for the fund companies as your rep mentioned. When you purchase a mutual fund, you are investing in the fund with the actual fund company. Primerica just acts as the the agent to buy through.

The concern people have with Primerica is that they feel that anyone can become a sales rep and therefore you can get bad advice. While it is true, the same is also true for many other companies and their reps, including banks. If you have a good rep, I wouldn't worry about dealing with them.

The other concern with Primerica that people are opposed to is that they will ask you if you are interested in becoming a sales rep or ask you for referrals. Some people don't feel it is good business practice to ask for referrals. If you received a good service then why not refer others who may be interested. If you aren't happy with the service, then of course you won't recommend them. Much like any business. Primerica is just more direct in their approach.

[MP3_SKY]

Mutual Funds, yeah...
Primerica, No, heard som much bad stories about them. I would go with a better financial institution.

[Wall Man]

You can use Globefund to do a search.

http://globefunddb.theglobeandmail.c...i_mgr_company=

Note that the Asset Builders are Segregated funds managed by AGF.

The other funds asset allocation is determined by Legg Mason and the underlying funds are AGF.

Just click on the respective fund and you can see a quick comparison to the group average and the respective index.

[hsd1]

thanks for the info people.

bumpppp

[hsd1]

my agent that i am dealing with has also stated that i should expect a 12% average interest over the course of my investment if i stay in it for 10 years.
Has anyone else heard this from any primerica agents?