Join Early Retirement Today
Reply
 
Thread Tools Display Modes
VG The Next Generation TRUSTS. Anyone take the bait?
Old 10-19-2017, 05:39 AM   #1
Thinks s/he gets paid by the post
BUM's Avatar
 
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,781
VG The Next Generation TRUSTS. Anyone take the bait?

VG has been advertising trusts more and more. They’ve set up and staffed an entire group, calling it a “legacy platform” or some such.

Anyone jumping on this bandwagon?
__________________
In a panamax down by the river.
BUM is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-19-2017, 09:19 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Mar 2014
Location: Dallas
Posts: 1,148
Following
pjigar is offline   Reply With Quote
Old 10-19-2017, 12:22 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 10,308
Actually, IMO that is A Very Good Thing. For Vanguard, it allows them to keep money that might otherwise be transferred to bank trust departments. For customers, it keeps money out of the hands of bank trust departments, which are historically very expensive and historically poor investors.

Schwab is doing the same thing and I got a copy of their rates from my guy yesterday. They are hugely cheaper than banks and I am sure that Vanguard will be competitive with Schwab.

Many here, including us, have estate plans that include testamentary trusts. We have sent the Schwab info to our attorney and will explore further what is involved in working with Schwab. Most trustees have certain requirements for trust documents, so we have to see if theirs are compatible with our needs. Looking at cost only, Schwab and Vanguard will probably be no-brainers. We'lllook at Vanguard too, but Schwab is convenient because we already have a fairly large relationship.
OldShooter is offline   Reply With Quote
Old 10-19-2017, 01:17 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Location: North
Posts: 4,023
Been needing a reason to call VG.

Will be discussing this service with them tonight.

Surprisingly usually the first person I talk with at VG is usually quite knowledgeable about new offerings and strategy. Makes me wonder if they know my # and trasnfer me right to tier 2?
__________________
Time > $$$ ~ 100% equities ~ FIRE @2031
kgtest is offline   Reply With Quote
Old 10-19-2017, 01:24 PM   #5
Thinks s/he gets paid by the post
powerplay's Avatar
 
Join Date: Oct 2008
Posts: 1,608
Interested and hope any one who checks out what Vanguard has to offer reports back.
powerplay is offline   Reply With Quote
Old 10-19-2017, 02:40 PM   #6
Recycles dryer sheets
wompo's Avatar
 
Join Date: Jul 2005
Location: Las Vegas
Posts: 92
From what I read it is 0.55% annual fee on your first $5 million. That would cover most people. There are decreasing rates for more than $5 million.

https://personal.vanguard.com/pdf/s341.pdf?2210071322
__________________
FIRE may actually be attainable
wompo is offline   Reply With Quote
Old 10-19-2017, 03:01 PM   #7
Thinks s/he gets paid by the post
BUM's Avatar
 
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,781
Thank you all. I’m at the age where this is starting to make sense. I’ll share my info as time goes on.

I don’t have a relationship Schwab.
__________________
In a panamax down by the river.
BUM is offline   Reply With Quote
Old 10-19-2017, 03:25 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 10,308
Quote:
Originally Posted by wompo View Post
From what I read it is 0.55% annual fee on your first $5 million. That would cover most people. There are decreasing rates for more than $5 million. ...
Yeah. I expected that they would be competitive with Schwab. Schwab is 50 basis points for the first $5M and 25 basis points for the next 5. So 38bps on $10M. Minimum fee is $5K.

Schwab also households the fee, so as my guy explains: "For example, if there are three trusts in the relationship, each $500k, we would not charge $5k [minimum fee] per trust (total $15k). But rather, we’d charge 0.50% on $1.5mm which equates $7,500."

Re phone numbers and supports, I don't keep track but in the past I have been on some kind of heavy hitter program at Schwab and am given different phone numbers for support than the public ones. Certainly they could use caller id to sort customers as well. I'd expect most brokerage houses have something similar.
OldShooter is offline   Reply With Quote
Old 10-20-2017, 06:44 AM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2005
Posts: 6,098
what a surprise , vanguard is promoting trusts more.

perhaps that is why they did away with beneficiaries on joint accounts and tell you to look in to a trust .
mathjak107 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Anyone working for the next generation? AnonEMouse Young Dreamers 46 07-16-2016 08:10 PM
Clunker bait - car dilemma? Janet H Other topics 96 08-11-2009 07:45 AM

» Quick Links

 
All times are GMT -6. The time now is 01:44 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.