Originally Posted by donheff
We can't use Schwab to put the funds into Vanguard or Fidelity without running into charges going in and coming out.
Not answering your actual question (old internet tradition)
but questioning this assumption - you can buy Vanguard ETFs
at Schwab for same commission as stocks ($12.95) and I think
that's acceptable if you're not doing monthly DCA. Of course
there aren't as many ETFs as funds (perhaps Wellington/Wellesley)
are the most notable absences) but still pretty reasonable
coverage of major equity classes (but none of bonds).
Thank you for investing with Schwab. To ensure you have the information you need to reach your financial goals, we recently upgraded your account statements to Schwab's Premium Statements..."
Same thing happened to me, because I said I wanted to be signed
up for "audited gain/loss service" (as opposed to the un-audited
"performance" tab) and side effect was these new statements.
I HATE them because they're SO much more verbose, about 13 pages
instead of 3 or 4 for my biggest account; reminds me of one of the
many things I hated about Prudential/Wachovia - I think they're trying
to make you feel important and wealthy with all that verbage -
theoretically it's to give you complete gain/loss info on the statement,
but if I want that I'll login to the webpage - the statements are mainly
just to have a paper trail from time to time.
I called Schwab and they said they'd revert me to the old statement
format and I could still have the audited gain/loss service. But then
I just got the same email as you cited ...