Leaving FA - Fund Transfer Questions

[LOL!]

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Originally Posted by Sunset I'm thinking the $25 charge you were quoted was for a Vanguard rep to sell the fund, because if you sell a fund yourself in Vanguard it is only ~ $8 But whatever you do, moving somewhere sounds like a great idea.

The Vanguard fee schedule says something different. If Flagship status, then $8, but one cannot be Flagship status without Vanguard products held at Vanguard. A million or ten million dollars in non-Vanguard funds means you are not Flagship status.

The Vanguard fee schedule says $35 to sell a transaction fee fund if one has no status and less for higher levels of status. So, sell the minimum amount to get status and wait to sell the rest after status is achieved.

https://investor.vanguard.com/invest...es-commissions

Or sell at current company if less expensive to sell and move cash to new company. Another benefit of this is simplicity and record-keeping in your new accounts will not be polluted by the old funds and their ticker symbols.

[nwsteve]

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Originally Posted by LOL! The Vanguard fee schedule says something different. If Flagship status, then $8, but one cannot be Flagship status without Vanguard products held at Vanguard. A million or ten million dollars in non-Vanguard funds means you are not Flagship status. The Vanguard fee schedule says $35 to sell a transaction fee fund if one has no status and less for higher levels of status. So, sell the minimum amount to get status and wait to sell the rest after status is achieved. https://investor.vanguard.com/invest...es-commissions Or sell at current company if less expensive to sell and move cash to new company. Another benefit of this is simplicity and record-keeping in your new accounts will not be polluted by the old funds and their ticker symbols.

Interesting Vanguard Flagship now requires at least the first million be in Vanguard funds. (any idea when this happened, when I was Flagship just a million of any investments was the hurdle.)
In contrast, Fidelity is happy to accept your million (or more) to be Private Client along with offering its CFP advisor at no cost. In addition Fido offers a full range of products including a superior website and research tools as well as competitive costs. AND, IMHO customer service that consistently goes the extra mile. If bricks and mortar is important, most major cities have an office.
BTW, many of the Vanguard major funds have ETF equivalents that can be bought and sold at Fidelity any time of the day for 7.95 (instead of $75 for the fund).
Nwsteve

[travelover]

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Originally Posted by nwsteve .......... Fidelity is happy to accept your million (or more) to be Private Client along with offering its CFP advisor at no cost. ...........

Does Fido let you combine accounts, i.e. mine plus DW = 1.2 million..?

[bingybear]

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Originally Posted by travelover Does Fido let you combine accounts, i.e. mine plus DW = 1.2 million..?

I believe yes. You may need to use consolidated statements to get their system to recognize that you are one unit.

[braumeister]

Yes, it's easy.
https://www.fidelity.com/customer-se...p-householding

[Scuba]

Another consideration is customer service. Fidelity Private Client group is very service-oriented. IMO the Vanguard model is more about efficiency which is partly achieved by investors being completely self-sufficient. I also like the option of going to a bricks and mortar location. Don't believe VG offers that.

[MRG]

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Originally Posted by Scuba I also like the option of going to a bricks and mortar location. Don't believe VG offers that.

They don't.