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Best taxable brokerage account for new attending?

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  • #16




    Vanguard fees are fine. It’s the pain in the ****************** issues that come up with having an account with them. My account locked up for no reason, it took 6 weeks and 20 notary signatures to unlock it (because apparently we still live in 1950 and a notary is the only way to verify your identity)

    My wife is having a similar issue with them trying to transfer a negligible amount of money into her vanguard account.
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    I definitely can understand that.

    In my experience, Vanguard is pretty much a brick wall in general unless they have verification of your identity and access/permission to access or discuss an account.  Personally I find this very admirable but it can occasionally be very aggravating and frustrating.  They now have voice verification which has been very nice and easy the couple of times I have used it.

    I recall one client of mine had an issue where Vanguard insisted upon obtaining a medallion signature guarantee, which was a real PIA to obtain, given that the client was infirmed.  However, we were changing title to one of his accounts with several million dollars of value, so I can understand the concern.

    I also had a personal issue where I was opening a custodial account for my son which was hung up for weeks, only to call and find out that it hadn't processed since I put my middle initial on the application and my account didn't have my middle initial.   :P   It was cleared up immediately, but the idea that it was sitting out there processing for weeks because of an extra middle initial was ridiculous.

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    • #17
      Vanguard was fine when I had accounts with them.  I've moved all my money out the last couple of years to collect bonuses at TDA, Merrill, Scottrade, Capital One, and E*Trade and haven't looked back.  The way I see it, passing up bonuses of $1000 or more at Vanguard's competitors isn't that different than paying fees to Vanguard.  The bonuses just take a little more work.
      I sometimes have trouble reading private messages on the forum. I can also be contacted at [email protected]

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      • #18




        Vanguard is fine, but if you are a belt-and-suspenders sort of person, you might want to consider opening an account with Fidelity or Charles Schwab instead.  That way any problems that might arise at one institution wouldn’t affect ALL your money.
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        Our taxable, Roth IRAs, and 529s are all at Vanguard

        Haven't had any of the security-related issues that others have noted. The website is a little on the dated side but is still functional. We do like it because it allows us to see virtually all of our investments at one site rather than having to feed it into an aggregator like Personal Capital

        We do worry occasionally about what would happen if a problem were to arise within Vanguard with so much of our net worth stored there.....

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        • #19
          Try getting a medallion signature on 3 separate occasions to transfer 900 freaking dollars

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          • #20
            I use Fidelity and Vanguard and have used both for at least 15 years. My wife and I both have company retirement accounts at Fidelity, and about 2/3 of our nest egg sits there (including taxable accounts, IRAs, UTMAs, etc.).

            On a day-to-day basis, either is fine. I think that the web interface is more user friendly at Fidelity, but not enough to sway me. If you have a problem, need to talk to someone, etc., Fidelity is superior. I would not fault anyone for using either, both, or Schwab.

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            • #21
              Vanguard can never be a wrong answer as things stand right now- I have my IRAs with vanguard. I use interactive brokers for my taxable account just because a good friend recommended it. A trade costs about 1$. You will have to pay unto 120$ a year until your account has $100 k in it.

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              • #22
                I've used Fidelity and TDAmeritrade. Both are good. If you're a stock junky, TD is wayyyy better for finding endless graphs and charts.

                I'm not, I just want a low ER fund. I stay away from the target date funds, because I think bonds are silly. (I have time until I get old, ergo my lean towards equities).

                I like low cost, and fewer passwords too.

                 

                 

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                • #23
                  As another poster said already, I switched out of Vanguard partially to collect some bonuses. I dont trade frequently so trading costs are not an issue. If you have Vanguard Mutual Funds at the Admiral level, it can be problematic to switch as many of the other places dont offer those. I have converted my stuff to Vanguard ETFs which are easily transferrable to other brokerages. These moves have allowed me to collect around $3000 for essentially some paper work.

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