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View Poll Results: Which firms do you have at least $3000 of non-401k/403b money with?
Vanguard 124 27.13%
Fidelity 64 14.00%
TRowePrice 19 4.16%
Other no-load fund family 38 8.32%
Other LOAD fund family 10 2.19%
Etrade 17 3.72%
TDAmeritrade 26 5.69%
Schwab 37 8.10%
Other online discount broker 22 4.81%
A full service broker like ML, SB 19 4.16%
I don't know where it is. 1 0.22%
Bank,CD,USTreasury 80 17.51%
Voters: 457. You may not vote on this poll

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Who has your money?
Old 01-18-2007, 12:30 PM   #1
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Who has your money?

Check all that apply. I am not interested in "captive" money that has to be with your employer's plan, just the stuff where you got to choose yourself who to invest with.

Edit to summarize responses:
Over 200 respondents have voted. Looks like
60% of respondents do business with Vanguard
30% of respondents do business with Fidelity
Full service brokers get more business than TRowePrice.
Schwab is the leading discount broker with TDAmeritrade in second place.
About 5% of respondents have assets at a load fund family.

We need to find at least one person's money for them.
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Re: Who has your money?
Old 01-18-2007, 12:35 PM   #2
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Re: Who has your money?

What about banks (CDs, etc.)?
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Re: Who has your money?
Old 01-18-2007, 12:49 PM   #3
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Re: Who has your money?

I use Muriel Siebert Brokerage for most of my stash. I like it for several reasons:

When I was researching brokerages back in the late 90's Siebert was known for getting good executions, in other words routing your orders to the market makers that would give you the best price. I'm not sure how they compare today though.

There's a refreshing quaintness about using such a small brokerage. For years the monthly newsletter had a fairly unflattering picture of Muriel and her cat on the front. Whenever I call they answer the phone right away and are helpful.

The comissions are still some of the lowest in the business at $15/trade IIRC. Yes there are other brokerages that are cheaper but they seem to make their money from kickbacks from the poor market makers they use to execute orders.

Their margin rates are quite competitive too, although now that I'm retired I'm not using any margin.

Overall the vibe at Siebert seems to be giving the customer what they want, rather than tricking them into paying fees.

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Re: Who has your money?
Old 01-18-2007, 01:04 PM   #4
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Re: Who has your money?

Hey, did anybody get a free flashlight/toolbox thing from TD-Ameritrade recently? They sent me one, and it was missing the ratchet and some other tools. Poor execution on a good-will gesture....
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Re: Who has your money?
Old 01-18-2007, 01:08 PM   #5
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Re: Who has your money?

free4now, I liked your post. I have a certain reluctance to switch from one vendor to another myself. But I also know that what worked for me when I was younger with less assets, may not be the best choice for me now.

If you watch an acorn grow into a big oak tree, it sheds leaves each year and the lower branches as it gets tall and mighty. How many of us keep around the little branches of our past? For new investors, is it better to start and stay with someone like Fidelity or Vanguard? There are fund companies like TIAA-CREF and TRowePrice which seem to have lower initial minimums on average than Fido and Van.

brewer, what's a bank? What's a CD?

I got the flashlight/toolbox. It had everything in it. It's pretty cool.

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Re: Who has your money?
Old 01-18-2007, 01:53 PM   #6
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Re: Who has your money?

Hey, I don't know about the rest, but I've been with Schwab for a long time and they are tops in customer service. Always have been.
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Re: Who has your money?
Old 01-18-2007, 02:25 PM   #7
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Re: Who has your money?

In order of descending amounts: Vanguard, Schwab, CU#1, Fidelity, US Treasury, T Rowe Price, CU#2, Insurance Co, Smith Barney, and S&L. Captive money at CalPERS and Vanguard. And all this after significant effort to consolidate!
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Re: Who has your money?
Old 01-18-2007, 02:48 PM   #8
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Re: Who has your money?

I applaud reporting the order of descending amounts. For our non-captive accounts:
TDAmeritrade, Vanguard, TIAA-CREF, WellsFargo, AmericanCentury

Edit since the Dodge&Cox funds are actually held in our brokerage accounts and not at D&C.
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Re: Who has your money?
Old 01-18-2007, 03:58 PM   #9
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Re: Who has your money?

Quote:
Originally Posted by wab
Hey, did anybody get a free flashlight/toolbox thing from TD-Ameritrade recently? They sent me one, and it was missing the ratchet and some other tools. Poor execution on a good-will gesture....
Well, I got NOTHING, so I guess it was worse execution to me
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Re: Who has your money?
Old 01-18-2007, 04:09 PM   #10
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Re: Who has your money?

OK, I confess that my wife got the tool/lightbox ... the week after she closed her investment club account with TDA.
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Re: Who has your money?
Old 01-18-2007, 05:21 PM   #11
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Re: Who has your money?

Vanguard for Roth IRA, credit union (remember those?) for cash, some ibonds and 6 DRIP stocks held directly without a broker.
Captive money, wife's IRA wigh VG and my retirement is in the TSP system.
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Re: Who has your money?
Old 01-18-2007, 05:22 PM   #12
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Re: Who has your money?

Russell, Vanguard, Fido, Neuberger-Berman, Pioneer investments, Citibank, Statefarm
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Re: Who has your money?
Old 01-18-2007, 05:31 PM   #13
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Re: Who has your money?

Vanguard and DRIP's (down to one file cabinet).

heh heh heh
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Re: Who has your money?
Old 01-18-2007, 06:49 PM   #14
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Re: Who has your money?

Fidelity 401k
Vanguard taxable mutual fund
TD Ameritrade Roth IRAs
Private LLCs taxable
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Re: Who has your money?
Old 01-18-2007, 07:10 PM   #15
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Re: Who has your money?

My money is with Ameriprise but I don't have a financial advisor and trade over the internet for $4 a trade.
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Re: Who has your money?
Old 01-18-2007, 08:05 PM   #16
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Re: Who has your money?

Most is with Vanguard, as I am trying to consolidate in one place in the next five years.

One fund will remain with Janus and one with Franklin Templeton, because they have performed too well for me to take the gains right now.

And then some CDs, Money Market and Savings Bonds for possible immediate needs.
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Re: Who has your money?
Old 01-18-2007, 08:21 PM   #17
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Re: Who has your money?

Schwab, Vanguard, Emigrant, GMAC, I-Bonds, EE Bonds.
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Re: Who has your money?
Old 01-18-2007, 08:38 PM   #18
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Re: Who has your money?

I didi a great job of consolidating with vanguard this year-- almost 70% of our noncaptive accounts are with them .

I moved a bunch from etrade to vanguard. Went through the whole medallion signature guarantee hoop.

now reading that etrade is SAFER than vanguard with respect to online security -- the former guarantees to make you whole against losses while vanguard does not.

Now wondering whether to de-consolidate and move stuff back.

sigh
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Re: Who has your money?
Old 01-18-2007, 08:51 PM   #19
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Re: Who has your money?

Quote:
Originally Posted by winnie

Now wondering whether to de-consolidate and move stuff back.
Yet another approach to answering the question, "Whaddya DO all day?"

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Re: Who has your money?
Old 01-18-2007, 09:07 PM   #20
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Re: Who has your money?

In descending order:

UBS
Fidelity (401k)
AIM Investments (through a small local brokerage)
Bank (CD, Savings for operating funds)
Checking account with bill pay and 2 credit cards
that I pay off each month if I use them....


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