Schwab vs. Fidelity??

[OldShooter]

Schwab offers a credit card? I need to check into that. ...

Belated apologies. My comment was about the Schwab debit card, not their credit card.

I only carry one debit and one credit card and the CC is not Schwab's because theirs is an Amex. Merchants hate Amex because of high fees and especially outside the US many will not take it. So an Amex is a non-starter for travel use.

 

[OldShooter]

Interesting. Back when they were more attractive, I purchased TIPS on the Schwab site without needing to “phone into the trading desk to fill orders.” ...

I am kind of the opposite; I prefer talking to the guys on the bond desk as I see bonds as a more complicated product than mutual funds and (without any actual data) I think that the bond guys' screens might have things that aren't or aren't yet posted to the web site. There is a $25 fee to deal with meat instead of electrons but they often waive it. It is negligible in the big picture anyway.

 

[ducky911]

I have Schwab and would not change as I would have to learn a new program.

One thing is when I buy or sell (i think) vanguard fund I get charged 49.95. This very rarely happens as I am a buy and hold type investor and only have two vanguard funds.

 

[sengsational]

I have Schwab and would not change as I would have to learn a new program.

One thing is when I buy or sell (i think) vanguard fund I get charged 49.95. This very rarely happens as I am a buy and hold type investor and only have two vanguard funds.

I wouldn't want someone to think that getting charged $50 is common. All my stock, ETF, and mutual fund trades are free at Vanguard and Fidelity.

 

[audreyh1]

Vanguard mutual fund purchases are not free at Fidelity. Purchases have a transaction fee. Sales do not have a fee.

 

[Sanbenito1]

I’ve heard good things about Schwab. I’m leaving Fidelity for Vanguard after waiting on the phone 30+ minutes, on more than one occasion.

 

[PointBreeze]

Fido and VG, for different reasons

We do our checking thru Fido cash management accounts. I have all of DP’s accounts at Fido because it is easier for her to navigate. I have one of my IRAs at Fido, and the rest of my portfolio at Vanguard.

I greatly prefer dealing with the Fido site and love the cash management account.

On the other hand, I much prefer the lower expense funds and ETFs at Vanguard. So, I keep most of my equity funds (future money) at Vanguard because they are set and forget for the most part. I have my nearer term funds (bond funds and some of my cash) at Fido, since I interact with them more frequently.

 

[nwsteve]

We do our checking thru Fido cash management accounts. I have all of DP’s accounts at Fido because it is easier for her to navigate. I have one of my IRAs at Fido, and the rest of my portfolio at Vanguard.

I greatly prefer dealing with the Fido site and love the cash management account.

On the other hand, I much prefer the lower expense funds and ETFs at Vanguard. So, I keep most of my equity funds (future money) at Vanguard because they are set and forget for the most part. I have my nearer term funds (bond funds and some of my cash) at Fido, since I interact with them more frequently.

I assume you are aware that any ETF even if from Vanguard costs the same at Fido. IMHO, the trading platform at Fido is much easier and has better execution.

 

[winyaz]

Fidelity has the best customer service that I have ever encountered. I don't call a lot, but when I do, the wait is short, I get a knowledgeable rep, they get me an answer, and they are available longer than just regular working hours. To me this is what really sets Fidelity apart.

 

[bl1289]

Moved Trust account from Fidelity to Schwab

I had a fairly substantial trust account at Fidelity until early this year. Fidelity started asking for various documents dating back to 1983, most of which I did not have. I asked if there was an underlying law, and they said no - just a new policy of the Fidelity legal dept. Fidelity legal dept restricted my account to only sells, no buys, until I provided these docs. I moved the account to Schwab who didn't seem so interested in ancient documents.


Until that incident I was doing fine with Fidelity, but a securities account where you cannot buy securities is of little use.

 

[JPatrick]

Lots of accounts over the years, but have settled down with FIDO and Vanguard. I'm an active options trader with FIDO and I've been very happy except for a couple issues this year that have me wondering if I need to investigate Schwab. One thing for sure, I am more than pleased with their SCHD for a great income fund.

 

[PointBreeze]

I assume you are aware that any ETF even if from Vanguard costs the same at Fido. IMHO, the trading platform at Fido is much easier and has better execution.

Yep. It’s just that Vanguard itself has many more lower-expense-ratio funds, and if I want to buy a Vanguard fund at Fido, I have to pay a $75 fee.

 

[audreyh1]

Yep. It’s just that Vanguard itself has many more lower-expense-ratio funds, and if I want to buy a Vanguard fund at Fido, I have to pay a $75 fee.

If you are using index Funds, Fidelity has super low ER index funds.

 

[youbet]

I have Schwab and would not change as I would have to learn a new program.

One thing is when I buy or sell (i think) vanguard fund I get charged 49.95. This very rarely happens as I am a buy and hold type investor and only have two vanguard funds.

Hint: If you are a substantial Schwab customer, talk to them about paying commissions to buy Vanguard MF's.

BTW, no commission on the sell end of the trade if you aren't able to negotiate your way out of any commission at all.