Let me just come out and say it. Your hard earned money and future deserves better than to be delegated to a call center somewhere in Timbuktu.
More and more, I'm reading about large financial firms forcing current clients to a call center instead of being able to work directly with a financial advisor. I'm hearing first hand from people who have less than $250,000 that they're getting letters stating their accounts no longer qualify for individualized services from an advisor. It is quite astonishing to hear and read about this, especially when some people have advisory accounts and are paying upwards of 1.5% annually for advice. For a $200,000 account subject to a 1.5% advisory fee, that client is paying $3,500 per year to be delegated to Johhny in Pine Bluff, Arkansas.
Your future is worth more than being sent to some random person who doesn't know you from Adam. Your future is worth more than waiting on hold for 20 minutes to talk to Sally, Jane, Mike or Floyd, all of whom have no idea who you are or how hard you work everyday to save for that retirement account. Call center employees have zero interest in knowing the sacrifices you made to save that 6% of your paycheck. Call center employees have zero interest in your children, your hobbies, your work, your faith, your home, your concerns, your life. As cruel as that sounds, it is the unfortunate truth.
If you're finding that your account is being delegated to a call center because it isn't large enough, just know one thing, you have options!! There are professional advisors out there that will help you in a heartbeat (me being one of them). They want to give you the personalized service you so richly deserve.