gauss
Thinks s/he gets paid by the post
- Joined
- Aug 17, 2011
- Messages
- 3,615
Ignorant comment... there are no "new" accounts a la Wells Fargo.
They wouldn't be opening a new account... but rather just changing
its form (mutual fund to brokerage holding the same mutual funds).. no substantive change.
You would have one brokerage account after for each mutual fund account that you had before... in some cases where you had both a mutual fund and a brokerage account of the same type (for example, taxable or tIRA or Roth IRA) you would have fewer accounts.
While I concede that today's Vanguard isn't the same Vanguard that we know and love, it is still the best looking horse in the glue factory.
Ignorant - maybe as I have never worked in the financial industry.
Lets try to make clear some hidden assumptions to see where our differences in option originate.
Are you suggesting that if Vanguard unilaterally transitions to a brokerage account that there would be restrictions on the account so that no "trading" could occur?
If that is the case, then I could see a path to unilateral transistion.
If, on the other hand, the new account allows brokerage trading, I cannot see this happening without having all the paperwork in place to legally allow/cover them.
-gauss