We have our investments diversified, why not our investment companies?
^ Isn't that kind of an ironic response considering the how this whole thread got started and its title?
If I had to have only one vendor, it would be Wells Fargo. Vanguard would be second, TDAmeritrade third, and Fideilty fourth. We have accounts with all of them. The differences among them are very small though, so if one found a compelling reason to pick one over the others, then I would not argue with that.
Good / bad points:
WF: Everything is free to us. No commissions on Vanguard ETFs, other ETFs, Vanguard mutual funds that we want to own. Free checking, free bill pay, many local banks to walk into, free ATM, free overseas ATM. Great trade executions (ever buy ETFs at BELOW the reported low of the day?). Best for correct and complete 1099s. I don't care about research and I don't care about number of funds, etc.
Vanguard: No commissions on things I want to use, but no local office. 1099s not as good as WF. Unlike WF, mutual fund side is not seamless with brokerage side.
TDAmeritrade: Everything that I want to use (ETFs) is no commission. A nice local office. But 1099s not as good as WF. I would have to pay a commission on a Vanguard mutual fund if I wanted to go that route. Also, unlike WF, I would have to pay commission on no-fee ETFs if I did not hold them long enough.
Fidelity: No commissions on many ETFs, but I prefer Vanguard ETFs which Fidelity would charge me a commission to buy/sell. I use Fidelity Spartan Index funds in my 401(k), but would not use any of their other funds. Great web site and great retirement income planning tools though. Local office, but I've never been in it.