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Another FA inquiry
Old 10-21-2013, 02:58 PM   #1
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Another FA inquiry

I currently have a Roth IRA with LPL Financial. I am thinking of rolling it over to a Vanquard target retirement fund inside my USAA brokerage account. Does anyone have any thoughts on this course of action? Has anyone dealt with LPL Fianancial?

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Old 10-21-2013, 10:00 PM   #2
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Never heard of LPL. But you will have to use a new Roth IRA account, not just a fund within your existing brokerage account. Have you compared performance between the new fund and your LPL account? Is the stock/bond balance of each comparable? Is LPL doing anything to individualize your investments? Is there a transaction fee to buy and sell the Vanguard fund at USAA? Would a Roth IRA account at Vanguard work just as well for you?

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Old 10-21-2013, 10:28 PM   #3
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Ewww, LPL. Have you figured out how much this is costing you? Hint: hugely more than Vanguard.
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."

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Old 10-21-2013, 11:50 PM   #4
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I was with LPL through my ex-FA, after they bought Mutual Services, who were no bargain either. I transferred everything to Vanguard, then used my massive carryover capital losses to offset any gains while converting to cash. I'm now in the process of DCA'ing into VG ETFs. I strongly recommend getting away from LPL.
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