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Scottrade shafts customers: Jan. 3, 2005
Old 12-11-2004, 12:02 PM   #1
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Scottrade shafts customers: Jan. 3, 2005

In case anyone missed it:

http://socialize.morningstar.com/New...&convId=131841

Scottrade is going to end their policy of no transaction fees on the vast majority of mutual funds, now it will cost $17 to buy/sell/exchange even if online. This is really bad news for anyone with a small account balance, those who DCA, or even those who like to rebalance once or twice a year. Scottrade is also being very shady about announcing this change with little warning.

I am definitely jumping ship, not sure where to go next. Is it the case that vanguard charges $30/year just to keep the account open?
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Re: Scottrade shafts customers: Jan. 3, 2005
Old 12-11-2004, 01:57 PM   #2
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Re: Scottrade shafts customers: Jan. 3, 2005

I moved my Roth from Scottrade to Vanguard because Scottrade's internet site was so bad. But I haven't even looked at Vanguard's site since signing up. Invest and forget.

There is a fee if you are under $5K, otherwise I think there is no cost? At least thats what I remember reading a while back.
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Re: Scottrade shafts customers: Jan. 3, 2005
Old 12-11-2004, 01:58 PM   #3
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Re: Scottrade shafts customers: Jan. 3, 2005

Quote:
Is it the case that vanguard charges $30/year just to keep the account open?
I believe that is correct - unless you are a Voyager client ($250,00-$1M). There is a 50% discount so you'd pay $15 per year. There is no annual fee for Flagship customers ($1M+).

EDITED: Yep, here it is:
http://flagship4.vanguard.com/VGApp/...onSchedule.jsp
I assume you are asking about a brokerage account. These fees don't apply to Vanguard's mutual funds.
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