Conference nyoss1::market_investing

    re .0
    
    I'll second that same request Bob.
    
    I also find myself looking at IDS for financial planning...in fact I
    have an appointment with them next Wed, and would really like to know 
    what the general feeling is toward IDS.
    
    Yes, I've also looked through all the previous notes on FP and IDS, but
    many of them (as Bob stated) are over 2 years old.
    
    								Thanks
    								-mike-

    I RECENTLY went through the IDS 'process'.  Without giving alot of
    details, I found that it was something I could have done with a
    calculator myself and saved $375.  In addition, their program was not
    even flexible enough to figure for the FREE life insurance that DEC 
    gives you...only the insurance you pay for.
    
    Also .. ALL the recommendations were to buy IDS 'funds', 'insurance' ..
    etc .. most at a 5% load.  When I asked about OTHER 'funds', I was told
    that THEY ARE ALL THE SAME.
                        
    I asked for a REFUND ... and recieved it.
    
    Bob O.              
    

    My experience, as a registered representative with an IDS competitor,
    says that you can get a plan of equal or better value from other
    sources at no charge.  It is illogical to pay a firm for a plan
    and then pay load fees for their funds, why pay twice?
    
    
    
    

    Are these guys the same or different;
    
    	IDS and Successful Money Mgmt. Inc. ?
    
    -TB

    It sounds like IDS might not be the best way to go for financial
    planning - according to the responses given in this note and others.
    
    I was sure that at least one person would be favorable toward IDS in
    this note...guess not.
    
    								Thanks
    								-mike-

    Could the person who wrote reply .3  mail me some info on the IDS 
    competitor you work for.  I've tried sending you mail to CTOAVX with
    no luck.  
    
    Please send any iformation to AIMHI::QUEZADA
    
    Thanks,
    
            Jose' Q.
                             

    Whether you do well with IDS (or almost any other financial planning
    service) will depend more on the individual planner you meet with than
    with the general services.  It's like choosing a doctor vs choosing a
    clinic.
    
    In both cases, you're better off asking friends if they have anybody
    they like.  While this may sound fairly random (and it is), it will
    give you a slightly better than random chance of finding someone good. 
    Calling an organization like IDS and getting a "planner" assigned or
    calling a clinic and getting a doctor assigned will get you a worse
    than random chance of finding someone good because the less good in
    both professions are less busy and take more random walk-ins off the
    street.
    
    My father is a financial planner affiliated with IDS and would agree
    with the assessment that the standard computerized evaluation is pretty
    worthless (though not in public).  It's the personal attention and
    skill at deciphering your needs that you're paying for with these sorts
    of financial services.
    
    And as others have pointed out here, when you figure in hefty
    commissions, you pay *a lot* for those services.  Most people with the
    technical sophistication needed to operate a notes file would be better
    off reading books, doing their own homework, and buying stocks or
    no-load mutual funds and low cost insurance.
    

  I was recently called out of the blue by an IDS person. He cited 7 or so
categories of service and asked if he could send me some material. I said yes
to two categories, tax reduction and retirement planning. I got the material,
scanned it, and put it aside. I thought that was the end of it. Then, last
week, I was called by another rep who asked if he could come over and talk
with me. I said yes, and he made an appointment for Apr. 13. Now, having read 
this string, I'm having second thoughts. I am a client of Merrill Lynch and 
they recently did a computerized financial assessment for me, for a fee of 
about $100. It sounds like IDS is going to do more or less the same thing, 
which for me would be redundant. 
  Has anyone had any positive experiences with an IDS rep coming to their home
for this sort of discussion? I am seriously thinking of canceling my appoint-
ment.

A rep. came to my home, talked to him for about 2 hours.  He came back 3 
weeks later will all the information I gave him printed out real nice.
No real recommendations, just the info I gave him.

Then he tired to sell me a universal life policy as an investment vehicle
to save money for a house.  He was very vague on the details, ie. load, 
total charges, cash out options.  I feel that my "home grown" method of 
a no-load short term bond fund and a no-load growth and income fund is
a better choice since the goal is saving for a house.

I didn't see any value in their service so I asked (in writing) for a 
refund and received it.

Just my opinion, you make think different,  Joe

  Re -.1: At what point in the process did the rep tell you there would be a
charge for his service, and how much did he charge you?

The price came out toward the end of the first 2 hour session after he had
most of the information.  The price depends on how complex your situation is.
It was $350 (?), this was their lowest option.  I thought it was steep at the 
time but I was just married and needed to educate my wife on what we could
do with our combined income.  She can spend money very rapidly.  My wife and
I came to the same conclusions about 2 months prior to the IDS visit, she 
just didn't trust the numbers.