Florida’s Best 403b/457b Vendors

1a. Vanguard is documented here.
1b. Fidelity is documented here.
3. NEA DirectInvest is documented here.
4. Aspire is documented here.
5. PlanMember Direct is documented here.

Clear Winners: Vanguard and Fidelity

Fidelity and Vanguard are clearly the best vendors in the industry and we strongly endorse them both. By a vary narrow margin, Fidelity beats Vanguard in the battle for the lowest fees. On the other hand, Vanguard revolutionized the industry with the invention of the index fund and has a proud history of fighting on behalf of everyday investors. Due to Vanguard’s unique history and culture, we’re confident they’ll continue to put your interests first, which stands in contrast to the fact that Fidelity continues to offer some exploitative investments that novices may fall prey to.

Methodology and Background

Our first step to reform the retirement plans at OCPS was to study the vendors offered throughout Florida. We calculated how much each vendor charged to construct a fully diversified portfolio using either a Three Fund Portfolio or a One Fund Portfolio (both are discussed in Investing 101). Once we determined that Vanguard and Fidelity were by far the best vendors, we successfully convinced OCPS to add them to the approved vendor list. We hope our top 5 vendor list will help non-OCPS employees identify their best available options and lobby for better options.

 

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