Vanguard to end cash management service
Iím also a Fidelity fan. Excellent website and great customer service. Also have had their cash management account as our primary checking account for many years. Used to have only this as our one checking account, but when we got a HELOC before our ER, to get the best rate we had to open a zero fee checking account at a local bank. This has worked well for us as now we have a bricks & mortar bank that we can walk to that handles cash. Fidelity does not transact anything in cash at its branches so on the rare occasion that we need to deposit actual cash, convert change to bills, etc., it does come in handy to have a bank in addition to Fidelity. We also use the bankís safe deposit box offering.
With respect to the Fidelity vs Vanguard difference, Iíll always be grateful to VG for the low costs they drove in the industry, and Iíve recommended VG to relatives who need a simple solution. However I prefer Fidelity for DH and me. I like being able to meet with a rep periodically for advice at no charge, and have found our rep to be helpful while not trying to ďupgradeĒ us to services we donít want or need. Also like the Fido 2% cash back credit card and no-fee ATM card anywhere in the world.