Voya is terrible. I’ve worked for three other O&G majors - they all use fidelity. You get like 40 funds to choose from and if you want you can shift stuff into a thing called brokerage link where you can get ANY mutual fund available. A lot aren’t that good and have high fees, but still - you’re in control. Not this garbage.
10 replies (most recent on top)
By looking at the up/down voting of responses, many with EM are absolutely brain-dead stuck with so-called "low cost". Still wondering why EM continues to go into the toilet? LOL
Reasons (facts) for using Voya: 1. You pay $0.01/share when trading EM stocks while all other brokerage firms offer $0.00/share trading any stocks/ETFs; 2. You place an order today, the order gets executed tomorrow (you need to have a "Crystal Ball" to make your bets, while other platforms warrant same-day execution); 3. Low expense = low quality. If you approve all of the above, you got a good deal with Voya. In my book, Voya is a scam. FYI - I suspect that EM executives use a different platform, not Voya.
Zero fees. I’ll let you do the math.
OP - do you happen to work for a financial management group that offers better?
Do you know what a group like this does?
Do you have any money?
Back in 2002 ExxonMobil outsourced the savings plan to Citistreets. ( My 3rd assignment to be Outsourced ) Voya picked it up a few years ago.
There is the history.
The expense ratios are pretty low, which is what you want if you're investing in index funds. The funds they have are pretty broad based indexes and fine if you just generally want equity or bond market exposure. I guess it'd be nice if they had some sector funds, but it's really not that bad.
Voya should have a list of different options to choose from besides the default. I usually set mine to SP500 and don't mind buying it cheaper each time if it's in a down turn. I prefer that over an active fund where managers buy and sell with little reasoning.
I have a diversified portfolio and Voya provided a decent return. No complaints.
The service is likely like using Deloitte for doing taxes; they’re the cheapest.