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Another FA inquiry
Old 10-21-2013, 01:58 PM   #1
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Another FA inquiry

I currently have a Roth IRA with LPL Financial. I am thinking of rolling it over to a Vanquard target retirement fund inside my USAA brokerage account. Does anyone have any thoughts on this course of action? Has anyone dealt with LPL Fianancial?

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Old 10-21-2013, 09:00 PM   #2
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Never heard of LPL. But you will have to use a new Roth IRA account, not just a fund within your existing brokerage account. Have you compared performance between the new fund and your LPL account? Is the stock/bond balance of each comparable? Is LPL doing anything to individualize your investments? Is there a transaction fee to buy and sell the Vanguard fund at USAA? Would a Roth IRA account at Vanguard work just as well for you?

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Old 10-21-2013, 09:28 PM   #3
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Ewww, LPL. Have you figured out how much this is costing you? Hint: hugely more than Vanguard.
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Old 10-21-2013, 10:50 PM   #4
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I was with LPL through my ex-FA, after they bought Mutual Services, who were no bargain either. I transferred everything to Vanguard, then used my massive carryover capital losses to offset any gains while converting to cash. I'm now in the process of DCA'ing into VG ETFs. I strongly recommend getting away from LPL.
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