Who has your money?

[LOL!]

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.

 

[brewer12345]

What about banks (CDs, etc.)?

 

[free4now]

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.

 

[wabmester]

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....

 

[LOL!]

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.

 

[lowflyer]

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.

 

[scrinch]

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!

 

[LOL!]

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.

 

[Texas Proud]

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

 

[LOL!]

OK, I confess that my wife got the tool/lightbox ... the week after she closed her investment club account with TDA.

 

[yakers]

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.

 

[Donzo]

Russell, Vanguard, Fido, Neuberger-Berman, Pioneer investments, Citibank, Statefarm

 

[unclemick]

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

heh heh heh

 

[Peaceful_Warrior]

Fidelity 401k
Vanguard taxable mutual fund
TD Ameritrade Roth IRAs
Private LLCs taxable

 

[bssc]

My money is with Ameriprise but I don't have a financial advisor and trade over the internet for $4 a trade.

 

[KM]

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.

 

[Bikerdude]

Schwab, Vanguard, Emigrant, GMAC, I-Bonds, EE Bonds.

 

[winnie]

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
Winnie

 

[REWahoo]

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

Yet another approach to answering the question, "Whaddya DO all day?"

 

[OkieTexan]

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....

 

[lazyday]

WellsFargo

Do they have good rates on money market sweep? (If this is a brokerage account.) Their 0$/3$/10$ trades, including mutual funds, is tempting.

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.

E*trade has the keyfob for extra security, which is impressive. But, I still trust Vanguard more. When I hear the name Etrade, I think of imcompetance, sleazy practices, screwups, frustration. Where Vanguard has a pretty good reputation for doing right for their customers.

 

[LOL!]

Do they have good rates on money market sweep? (If this is a brokerage account.) Their 0$/3$/10$ trades, including mutual funds, is tempting.

The sweep is into WFLXX, so pays 4.6+% I consider that good, but Vanguard's VMMXX is great. Currently, all our new investments are made in our WF brokerage account.

 

[DangerMouse]

Wells Fargo for brokerage (I'm happy with those $3 trades), Vanguard for mutual funds, and along the lines of Uncle Mick I have a collection of DRIP accounts. 401ks are with Fidelity for him and American Funds for moi.

 

[lazyday]

The sweep is into WFLXX, so pays 4.6+%

Good enough for me, since would usually just be for a few days at a time. Longer term, could just buy a Vanguard bond fund, or an ETF like SHY.

 

[Sandy]

Fidelity for my investments; Schwab for inherited funds. They were with Schwab when we got them and we are pulling bits as it grows, keeping the balance stable for now. Current 401b, not in poll is, with TRowe.