So Danford is uniquely qualified to answer this question from a Money Made Easy viewer about what to do when dissatisfied with your 401(k) funds:
I want to shift my money to different funds within the plan. When making this decision, which do you think I should focus on more: the funds’ expenses or the returns the funds have earned?
Danford explains why you should focus on expenses first, but there is an important caveat when it comes to ensuring you are comparing apples to apples with different 401(k) funds.
Dan Danford, CFP®, CRSP®, MBA
Dan Danford, CFP®, is a financial professional, who began his investment career as a bank trust officer, has been advising clients on how to preserve and manage wealth for over 20 years.
He was one of the founders of The Trust Company of St. Joseph, a nationally recognized Missouri-chartered trust company. He then went on to form his own commission-free investment advisory firm, Family Investment Center in 1998.
Dan feels strongly that a commission-free firm offers the best option for most people to receive independent, objective advice at reasonable rates, with a high level of personalized service. He favors solution-based planning and proven investment strategies.
With his financial expertise and investment management experience, he helps clients achieve their financial goals while providing them peace of mind, convenience, economy, and simplicity.
Dan serves a wide range of clients, but especially enjoys working with and educating families, nonprofit groups, and company retirement plans.
Dan has written extensively on investment-related topics and his articles have appeared in a variety of professional and general interest magazines. He has also written and published two books on investing. Dan has taught personal finance and investing at Missouri Western State University and has been a presenter at local, regional and national workshops and conferences.
He has also served on the boards of a number of civic and professional organizations. Dan is an Eagle Scout and has served as a Loaned Executive for the United Way.
He was honored with the 2003 Missouri Western State University Distinguished Alumni Service Award.
Dan is a graduate of Missouri Western, and holds an MBA from Northwest Missouri State University. He is also a Certified Retirement Services Professional®, a designation awarded by the Institute of Certified Bankers.
Areas of Expertise
• Portfolio Design
• Asset Management
• Investing for Non-Profits
• Investing for Women • Guidance for People in Transition
• Independent Advice for Individuals and Families
• BSBA, Missouri Western State University • MBA, Northwest Missouri State • Certified Retirement Services Professional®
• May I Help You? Why You Need a Fee-Only Investment Advisor (Infinity Publishing, 2004)
• Million Dollar Management: Simple Lessons to Use Wealth Management Principles for Your Family Investments (First Books Library, 2002)
• New York Times, Chicago Tribune, Kansas City Star, St. Joseph News-Press, St. Joseph Telegraph, Business Week, MorningstarAdvisor, Kiplinger’s
• KQTV Television (ABC)
• 100+ articles for trade journals, magazines and newspapers
• Board of Governors – Missouri Western State University • St. Joseph Area Chamber of Commerce
• St. Joseph School District Foundation
• United Cerebral Palsy, Buchanan County
• Phillips Theological Seminary