Re: Anyone know anything about these?
I got no problems with Vanguard or Fidelity or really any other fund family.
But I don't plan to deal with them.
USAA has an S&P index fund that has an expense ratio approximately what all the rest charge. They arrive on the scene as what they are -- possibly the finest company in the US dedicated with a capital D to customer service.
The former military officers on the board know about USAA. A little story about them may help . . . .
They are a non profit, member owned insurance (financial services) firm. About 10 yrs ago there was an internal quarterly meeting of regional managers for the life insurance portion of their business. Manager after manager got up and gave his briefing of performance. Some had performance below plan, some were above plan. One particular regional manager briefed performance 25% above plan -- achieved via a combination of selling high margin riders and reduced payouts.
There was silence in the room. The VP thanked everyone for their input and adjourned the meeting, but asked that manager to stay behind. He was asked to provide the details on his performance and how it was done. The manager provided it all, thinking the company would adopt it nationwide.
He was removed from his position and offered another post with no management authority. He resigned in a huff.
The company briefed the story -- pointing out that performance like that above plan could be achieved only at the expense of the customers (members) and this was unacceptable in the USAA culture.
Anyway, I prefer to deal with them for just about everything. I diversify into other places, but with them I never have to do ongoing research to see if I'm being gouged. I confess I checked up on them a few times over the decades, but I don't bother anymore. They are always either competitive or superior in all their rates. I've been a member about 33 yrs now. I have a few personal experience stories of dealing with them, but maybe too far off topic.
Anyway, their S&P fund is where I park that allocation.