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11-29-2017, 04:59 PM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 7,418
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Transition VG accounts
Got an email urging me to do it by Jan 6 to their new brokerage platform.
Advantages for me are suppose to be:
Quote:
By transitioning your account, you'll:
• Help us provide you with a more streamlined service experience.
• Gain fast, commission-free transactions for all your Vanguard investments.*
• Increase your investment choices to include not only Vanguard mutual funds but also ETFs (exchange-traded funds), stocks, bonds, CDs (certificates of deposit), and mutual funds and ETFs from other companies.
Take advantage of this offer by January 6 to enhance your investing experience at Vanguard!
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Anyone else biting?
I don't anticipate buying non-VG funds, just keeping my Admiral shares in my Flagship account.
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11-29-2017, 05:01 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,127
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I've procrastinated for about 2 years and still procrastinating.
Happy with just funds so don't need to make more work for myself.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
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11-29-2017, 05:15 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Location: Denver
Posts: 3,499
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I did the transition earlier this month and it was painless. Took one business day.
But if you don't have a brokerage account already, I don't see the need till they force you to do it.
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11-29-2017, 05:17 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 7,418
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Do you need a brokerage account even just to buy VG ETFs?
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11-29-2017, 05:27 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jun 2016
Posts: 4,655
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I did this for my MIL. Easy & painless.
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11-29-2017, 07:11 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2007
Posts: 13,184
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You'll get two sets of tax forms in the year you convert. Somewhat confusing unless they've improved the process.
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11-29-2017, 07:40 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Oct 2017
Location: Tellico Village
Posts: 2,596
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You can say "I am going to call my Broker" after you have it converted to a brokerage account. That sounds much more sophisticated than I am calling Vanguard.
I started with a brokerage account so I don't know the difference.
VW
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11-29-2017, 07:46 PM
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#8
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Full time employment: Posting here.
Join Date: May 2007
Posts: 880
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Just did it last week. Painless. I figure I'll do my share to keep costs down (as VG claims it will do).
__________________
"It is better to have a permanent income than to be fascinating". Oscar Wilde
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11-29-2017, 08:47 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2013
Posts: 11,078
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I'm already there. My w*rk was in this industry and you don't want to be last to convert.
IIRC Vanguard has two systems that do basically the same thing for most investors. The old system is being retired(we can all appreciate that!) due to technology obsolescence. At some point in time the conversion won't be voluntary it will be mandated.
It's better to be in the voluntary group! When it's mandated you have no ability to complain.
Along the way you(technology providers) start to enhance the new system first, stopping enhancements to legacy systems. In the industry, one big costly event is tax reporting. Happens every year and it's required, even if nothing changed in regulations, something changed. At some point the IT resources will have their priorities adjusted to support the new system first. You don't want to be there.
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11-29-2017, 09:49 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,972
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Did it a year or 2 ago.
I like that everything is in one place, just like other brokerages.
Just don't do it within days of needing to rebalance/sell/buy something as I think for me it took 2 days.
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11-29-2017, 11:05 PM
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#11
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Recycles dryer sheets
Join Date: Sep 2011
Location: MSP
Posts: 304
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Transition VG accounts
Quote:
Originally Posted by easysurfer
I've procrastinated for about 2 years and still procrastinating.
Happy with just funds so don't need to make more work for myself.
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Yep. Don't need no stinkin' streamlined user experience. Heck, the Luddite in me even complains that my Vanguard app now opens with "My Feed" rather than just going straight to my accounts overview. Don't need no stinkin'......
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11-30-2017, 04:34 AM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,669
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I don't need a brokerage with VG, since there is one at Schwab already. So, I've been waiting to be forced into it. We don't need 4 additional funds for sweep.
When we consolidate after next year, VG might get a smaller piece of our investing pie. I must be a Luddite.
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11-30-2017, 05:52 AM
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#13
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Full time employment: Posting here.
Join Date: May 2015
Location: Atlanta suburbs
Posts: 633
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Quote:
Originally Posted by easysurfer
I've procrastinated for about 2 years and still procrastinating.
Happy with just funds so don't need to make more work for myself.
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+1
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11-30-2017, 12:16 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Location: Denver
Posts: 3,499
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The downside of waiting to be forced into it, is that there is a chance that the system will be overwhelmed and you'll have issues and long waits for technical help.
..but you know that.
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11-30-2017, 12:36 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Jul 2002
Posts: 1,581
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We (me, wife, two sons) have a total of six Vanguard accounts. Three are full brokerage, other three or mutual funds only. Five of the six are retirement accounts with very few changes taking place.
At this time, I don't see any advantage to us to make the change so have been in no hurry. We did convert one of the accounts (son's Roth IRA) as it simplified the statements and record-keeping. Painless.
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12-10-2017, 10:59 PM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 7,418
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Would converting affect the various tiered status you get for having a certain amount with them?
Also I just switched my DRIP to transfer (by ACH) to my checking account. Would transfers to external institutions be affected?
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12-11-2017, 12:40 AM
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#17
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,021
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Quote:
Originally Posted by explanade
Would converting affect the various tiered status you get for having a certain amount with them?
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I don’t believe so. I even removed my name from our joint account with them so that it was just in my wife’s name. Neither of us would have had Flagship status but the combined accounts meant we both retained our individual Flagship status.
Quote:
Originally Posted by explanade
Also I just switched my DRIP to transfer (by ACH) to my checking account. Would transfers to external institutions be affected?
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When I transitioned over to the Brokerage accounts the ACH bank details I use to transfer money in and out remained exactly the same.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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12-11-2017, 09:18 PM
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#18
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Recycles dryer sheets
Join Date: Jul 2013
Location: Cape Canaveral
Posts: 93
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Hmm I too only hold 4 different vanguard admiral funds and dont see why I would need to do this.
I will talk to my guy next week when I do the annual rebalance.
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Transaction History Retained After Conversion?
12-11-2017, 09:27 PM
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#19
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Full time employment: Posting here.
Join Date: May 2017
Location: Southeastern PA
Posts: 764
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Transaction History Retained After Conversion?
For those that have already converted to the combined account, do you still have all the transaction history information for the old account/accounts?
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12-11-2017, 10:48 PM
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#20
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,021
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Quote:
Originally Posted by RetiredAt55.5
For those that have already converted to the combined account, do you still have all the transaction history information for the old account/accounts?
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Yes.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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