Brokered CD's, Charles Schwab or Fidelity?

[almost there]

Any reason to go with one over the other?
Setting up a new 5 yr CD ladder.
So, I need to choose one.
Note both are located in the same business park. 100 feet apart...lol lol


Thanks!

 

[disneysteve]

There should be no difference.

 

[Al18]

There’s another Fed meeting mid-June where they are expected to raise rates again. You may want to spread out your CD purchases over the next 2-3 months.

 

[Car-Guy]

I haven't looked at Fidelity in a long time but their "skim" was about the same as Schwab the last time I looked.

 

[almost there]

Thanks, yea, plan to buy a few 3 & 6 month CD's. And go from there.

 

[Surewhitey]

Reviving this one as we have recently bought our first CD ladder at FIDO and some 18 months at Marcus.

Are there anything to consider with FIDO not being the issuer? Thinking of doing more if no big deal...

 

[audreyh1]

Banks issue CDs which are usually FDIC insured. Fidelity is not a bank.

 

[OldShooter]

Any reason to go with one over the other? ... both are located in the same business park. ...

I would visit and get pitches from both and understand how your potential new account would be handled. Get a gut feel for the places. If you bring assets over $1M I believe both will give you an assigned rep. In that case, interview some reps to see if you find one that seems like a good fit. Tell the branch manager what your preferences are; sex, age, investment interests, experience in the industry, etc. https://brokercheck.finra.org/ is your friend.

IMO the name over the door is much less important than your comfort with the people relationships.

There is frequent discussion here about the small spiffs you can get for signing with a broker. The dollar values of these IMO are trivial compared to portfolio values and hence not a good reason to select one broker or another.

 

[wolf]

Charles Schwab. Referred by a friend. $500,000 deposit. Get a $1000 reward
Fidelity. $ 1million deposit. Get I think $500 or was it $1000.
This was back in December 2022.