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Old 03-06-2019, 03:41 PM   #41
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Location: Rio Grande Valley
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I’m happy to have the bulk of our investments at Fidelity, and the Fidelity Cash Management account has been very useful.

But we do hold a large amount in CDs and high yield savings at various banks and credit unions. And it will probably stay this way for a while. We’ll probably always have at least one high yield savings account and one bank checking account just to have some substantial funds available in case access to our Fidelity accounts is interrupted temporarily. Or vice versa!

We do have a small Schwab account mainly for the Schwab bank benefits. Pretty much only use this for travel.
Retired since summer 1999.
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Old 03-06-2019, 07:14 PM   #42
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Originally Posted by foxfirev5 View Post
I have referred to VG as the Walmart of investment firms. This was not fair to Walmart. At least they are expanding their offerings and moving with the times. If I were a new investor there are certainly better choices out there.

By pure luck we went with our 401 rollovers to Fidelity and have been impressed by the customer service, the cash back card, bill pay and other features. The bond/CD analysis tool and bond desk are top notch. If I didn't firmly believe that one should not have all their eggs in one basket I would move it all to Fidelity. Also I'm sure there are a few other firms out there that are just as good.

I'm happy with both Fidelity and Schwab. I also don't like all my eggs in one basket. I left TDAmeritrade several years ago due to their bond pricing. Yes, they charge no commission. But they were charging anywhere from $50 to $200 extra for 5 bonds as compared to Fidelity/Schwab. Even so, I'd recommend TDAmeritrade over Vanguard any day. They also have local offices, if that's important to anyone.
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Old 03-06-2019, 07:17 PM   #43
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Join Date: Jun 2016
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Count me as a Fidelity fan. They offer many tools and value add services and I love their cash management.
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Vanguard to end cash management service
Old 03-06-2019, 11:46 PM   #44
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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.
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Old 03-07-2019, 09:33 AM   #45
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Guess the VG cash management service end doesn't impact me as I didn't even know VG had a cash management service. My only cash with VG are MM funds. Like W2R I use my checkbook for paying my bills.

As for VG vs Fidelity, with full disclosure, all I have is $ in VG and am happy with that, but don't see why the choice has to be either or if one chooses both.
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