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Old 07-11-2011, 08:41 PM   #41
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^ Isn't that kind of an ironic response considering the how this whole thread got started and its title?
FIDO/VG are not our "advisors" (we advise ourselves). However, they are the firms that hold our investments.

As to some of the reasons? FIDO has superior tools, IMHO along with some (but not all) low cost funds (such as the Spartan series).

VG OTOH has mostly low cost funds, but also give us access to certain desired sectors, such as VGHCX (Vanguard Health Care) which is part of our core holdings.

If you have an investment plan and feel comfortable with that plan, the company means little - other than access to the specific fund area/sectors that your plan directs you to invest in.

However, if you are looking for somebody else to take over management of your funds (which was the title of the thread - "Too Many Advisors"), that's a completely different question than what was asked: "Would you recommend just using vanguard or use fidelity also"
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Old 07-11-2011, 08:48 PM   #42
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That's why I was looking hard at fidelity because they have an office I spent some time on the phone with vanguard today very helpful. ?
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Old 07-11-2011, 08:58 PM   #43
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FIDO/VG are not our "advisors" (we advise ourselves). However, they are the firms that hold our investments.

As to some of the reasons? FIDO has superior tools, IMHO along with some (but not all) low cost funds (such as the Spartan series).

VG OTOH has mostly low cost funds, but also give us access to certain desired sectors, such as VGHCX (Vanguard Health Care) which is part of our core holdings.

If you have an investment plan and feel comfortable with that plan, the company means little - other than access to the specific fund area/sectors that your plan directs you to invest in.

However, if you are looking for somebody else to take over management of your funds (which was the title of the thread - "Too Many Advisors"), that's a completely different question than what was asked: "Would you recommend just using vanguard or use fidelity also"
I'm tired of paying high fees. So for Roths and simple Ira I'm going to move them to vg or fido I'm Maxed out on tax free accounts so this is were I think I will need help for next move. Thanks.
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Old 07-11-2011, 09:04 PM   #44
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That's why I was looking hard at fidelity because they have an office
DW/me have been to the local FIDO both before and after (my) retirement, and found it helpful. I also went there a couple of times after I retired to attend some "user classes" on different topics. However, with the improvement of on-line communication, they no longer hold these sessions.

Both FIDO and VG hold interactive video presentations (assuming you are an investor with them) and I find they are equal in value.

The only thing I miss is the pizza that FIDO would supply during their sessions ...

Regardless of the lack of further instructional sessions, I did feel better by meeting one-on-one with somebody (sometimes more than one person) who sat across from you at a table/desk, especially just before/after my retirement. You can still get that with the local FIDO office (if you are close enough).
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Old 07-11-2011, 09:34 PM   #45
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No advisor either and use FIDO and VG.
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Old 07-12-2011, 08:13 AM   #46
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And just an FYI, you can still be roped into high fee/commission funds at brokerages like FIDO, especially if you work with an adviser there. You need to find out how the person you are talking to is compensated, every time, before you sit down with them. That is key to understanding how the process works.
Everyone has to get paid, the question for you to ask is how.
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Old 07-12-2011, 08:42 AM   #47
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And just an FYI, you can still be roped into high fee/commission funds at brokerages like FIDO, especially if you work with an adviser there.
I can't agree. This specific question was asked by me/DW upon our initial discussions prior to retirement, at their local branch.

Basically, they are compensated with a basic salary, with a bonus based upon the amount of "business" (e.g. assets) brought into FIDO. That only not includes FIDO funds, but also other (i.e. VG) funds held through FIDO as affiliated investments.

They also receive an adjustment based upon "customer satisfaction"; this I know since I get a follow-up call every time I have a phone/net question/activity with them. They do treat their customers well.

Here's a current document on the process:

http://personal.fidelity.com/misc/ge...mpensation.pdf

BTW, even though we have the majority of our investments with FIDO, we still have a substantial amount with VG, since they are part of our "total investment" plan.

I didn't add that when we do sell in order to fund our "retirement cash buckets" on the VG side, we transfer the cash to our FIDO MM (tax deferred) accounts. Since we (more specifically, me) draw monthly from these funds to supply my "retirement cash", I'm more familiar with the FIDO process of paying taxes, and having deposits made to my various checking accounts. I would rather just do this through one vendor (and receive one 1099 - for tax purposes) at the end of the year.

OK - I admit it. I like FIDO (especially their RIP software) and they act in a more "professional" manner than my dealings with VG. I guess "low cost" also has it's challanges. Not to slam VG (hey, we do have assets with them), but on the customer service side, they can't compare to FIDO.

Just my personal POV ...
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Old 07-12-2011, 08:45 AM   #48
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Rescueme, the part of my comment that you chose not to quote suggested that he, at the very first meeting, find out exactly how his adviser is being compensated.

Thanks for giving me the opportunity to clarify yet again for the OP how important it is to investigate the people giving him advice and find out how they are compensated, so he can decide for himself how he wants to pay for the information.
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Old 07-12-2011, 08:48 AM   #49
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Rescueme, the part of my comment that you chose not to quote suggested that he, at the very first meeting, find out exactly how his adviser is being compensated.
Sorry, I try not to re-quote entire postings ..

As the youngin's say "my bad"...
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Old 07-12-2011, 08:51 AM   #50
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I will put in a good word for Schwab. We have been there for a long time and been happy. Cheap commissions , a broad selection of products (including their bank), good service and lots of offices.
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Old 07-13-2011, 06:21 PM   #51
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I have talked to vanguard and I think I'm going with them. I'm like where I'm headed. I will just keep asking questions where you put taxable money ?
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Old 07-13-2011, 06:49 PM   #52
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You got the books, what did the books say?
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Old 07-13-2011, 07:37 PM   #53
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You got the books, what did the books say?
I just don't get it now that tax-deferred and tax free Maxed out and I will be opening a taxable account thats where I get confused with tax-efficient and inefficient.
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Old 07-13-2011, 07:55 PM   #54
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I just don't get it now that tax-deferred and tax free Maxed out and I will be opening a taxable account thats where I get confused with tax-efficient and inefficient.
Since you're planning to move most of your $ to Vanguard, here are two pages from the Vanguard website (if you've not seen them already) about help that they offer And if you've not done so, you could give them a call at their 800 number and talk to them about moving your money over. Like Fidelity, Schwab, etc., they should be very helpful in answering your questions (Vanguard was very patient with my DH and me in explaining everything) and will probably be able to handle the transferring for you.

https://personal.vanguard.com/us/whatweoffer
https://personal.vanguard.com/us/wha...rsonalservices
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Old 07-13-2011, 08:40 PM   #55
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I just don't get it now that tax-deferred and tax free Maxed out and I will be opening a taxable account thats where I get confused with tax-efficient and inefficient.
There are dozens of threads on this at the Bogleheads forum. I would recommend reading some of them until you get the basic concept, then stop just before they start quibbling about the number of asset allocating angels that can dance on the head of a tax-efficient pin. There is such a thing as too much information. The basic rule is equities in taxable, bonds and REITs in tax exempt. But there are many caveats, so do some more reading.
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Old 07-13-2011, 09:23 PM   #56
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In your taxable for now, buy only shares of these two funds:
VTSMX Vanguard Total Stock Market
VGTSX Vanguard Total International Stock Market.

They are tax efficient. They are all equities and have no bonds in them. Buy bond funds in your tax-advantaged accounts like 401(k) or Roth IRA. You can also buy equities in your tax-advantaged accounts such as the 2 funds I just mentioned, but do not buy bond funds in your taxable account.
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