Need help on who to transfer Mutual Funds to?

[Orchidflower]

I am looking for the most dependable, reliable, great firm out there that has the LOWEST FEES possible to transfer some mutual funds from a major firm (with the usual high fees) to a DISCOUNT type place; so, ETrade? AmeriTrade? ScottTrade? Who would you suggest?
Was hoping to go with Sharebuilders, but they are with ING now and you have to have ING mutual funds (which mine aren't). I can still buy/sell stocks with Sharebuilders, but I have to find a place to park my mutual funds. I am tired of paying fees when the mutual funds just sit there month after month.
Which firm would you folks say is BEST with LOWEST fees to park my mutual funds and other assets in now?? I plan to do this quickly and have no idea where to go that is best. Help!

 

[yuag]

I'm thinking of going to Vanguard...I noticed you didn't mention them above. Their most cost effective plan limits you to only their funds, but there are still over 100 to choose from.

 

[LOL!]

Cheapest place if you have at least $25,000 is WellsFargo if you get their PMA account with checking and brokerage. It is TOTALLY FREE! You can't get cheaper than that. I've been with them more than a year and have only good things to say about them.

 

[FinanceDude]

Schwab is always a good bet, not 100% "free", but definitely low cost

 

[Orchidflower]

My gosh...is there nobody on this board who uses ETrade or Ameritrade or ScottTrade? I'm surprised, to say the least.
However, I'll look into what you folks advise above tomorrow for sure. Thanks!

 

[yuag]

if you're just doing stocks and have more than $2500 to play with I've heard decent things about Zecco.

 

[Nords]

I am looking for the most dependable, reliable, great firm out there that has the LOWEST FEES possible to transfer some mutual funds from a major firm (with the usual high fees) to a DISCOUNT type place; so, ETrade? AmeriTrade? ScottTrade? Who would you suggest?
Was hoping to go with Sharebuilders, but they are with ING now and you have to have ING mutual funds (which mine aren't). I can still buy/sell stocks with Sharebuilders, but I have to find a place to park my mutual funds. I am tired of paying fees when the mutual funds just sit there month after month.
Which firm would you folks say is BEST with LOWEST fees to park my mutual funds and other assets in now?? I plan to do this quickly and have no idea where to go that is best. Help!

I'm confused.

If you want to transfer mutual fund shares in-kind, and just sell them someday without buying any more of them, then you could try Fidelity. They'll take just about anything, custody it free of charge, and sell mutual funds without fees. (I'm not sure about reinvestments of non-Fidelity mutual funds, but they probably have other low-expense funds in the same asset classes.) There are no "usual high fees" and their website is extremely robust. You can even enter in your cost-basis data and Fidelity's website will handle that for share sales & tax statements. Painless.

Then you could find a cheap brokerage for your other assets. Fidelity's brokerage charges roughly $8-$19.95 (depending on the size of the assets you have on account or the number of trades you do) but reinvestments of dividends can be done for free.

If you're planning to cash out the mutual funds and use the cash to buy other mutual funds, then you might want to try Vanguard or Fidelity. They both have low-cost index funds, although the minimums & trading restrictions might be an issue. Or you could try any discount brokerage's fees to reproduce your asset allocations through ETFs. For large purchases it may even be cheaper to go with sector ETFs than with the equivalent mutual funds.

What's the "quickly" concern?

 

[jazz4cash]

I have some individual stocks at Scottrade. I am very satisfied with them. I mainly selected them over the other online outfits because they have an office about 10 miles from here and it was comforting to know I could go there if necessary. For a large account with mostly funds, I might just go with VG.

 

[2B]

My gosh...is there nobody on this board who uses ETrade or Ameritrade or ScottTrade? I'm surprised, to say the least.
However, I'll look into what you folks advise above tomorrow for sure. Thanks!

I have an Etrade account and I haven't had any problems.

The cost of a trade is about $10 but I don't do many so it's not really relevant. You can get brokered CDs for no commission other than their kickback from the bank.

I'm thinking about moving everything to Vanguard so I can get Admiral shares. It would work out to a couple hundred dollars a year in reduced fees since you can't buy Admiral shares through Etrade. I do have some non-Vanguard assets and the Vanguard brokerage service is more expensive.