Who's your broker?

[MarieIG]

I know this is an older thread, but thought it best to add it here and ask my question

my IRAs are at TD Ameritrade and have been with them through one iteration or another for 20 years and never had an issue. I do have someone check in on me as named rep but have told him I am fine as I manage my own investments. Is there something I am missing in not using this rep? I have asked him a couple of questions and gotten quick answers and he did point out that you can only do one rollover out and back into your IRA in a year. I took a lot of out $$ To help my daughter between houses and paid it back in 38 days

The other question I have since I own stocks and funds, what risk is there having only 1 broker vs those of you who have several accounts. My reading of the legal documents is even if they go under, I still own my stocks, Bonds and funds.

I didn't see a reason to diversify brokers or is it because of the different products they sell? Do you get a better deal on Vanguard funds if your money is there?

As a side note, my 401K is with Empower

I believe you get a better deal for trading Vanguard funds, at Vanguard. Trading the ETF at TD (I believe) is now free.

I tend to buy small bits at a time (due to being a nervous "investor") and when I attempted to but a Vanguard fund, I got a warning for a trade cost for a no-load Vanguard fund. Don't hold me to the price (it was a few months ago), I believe it was something like $49 dollars which was too annoying for me to pull the trigger. (I have accounts at both TD and Vanguard, BTW.)

 

[travelover]

Still with Bernie Madoff. I think he was framed.

 

[Sunset]

......

....3. Vanguard is a bit of inertia from back when flagship meant something and it is likely to be the hardest for DW to deal with in the likely event that I'm first to die. Hence, it is likely to be terminated; ....

I have just gone through this with Vanguard, and I can tell you it was easy as pie and all online.
The only negative thing, was we were expecting it to take a couple of weeks, and didn't get any emails. However when we checked the account, SURPRISE the transfer was done a week ago!

This is their explanation https://support.vanguard.com/triage...%20on%20death&linkText=Back to search results

And here is the link that actually starts the process: https://personal1.vanguard.com/cwp-change-of-ownership-angular/guide

 

[swakyaby]

I retired with 3 brokerages at Vanguard, Fidelity, and T.Rowe Price. A year later, I inherited funds at Fidelity, T.Rowe Price, DWS/Scudder, Janus, and American Century. I closed the accounts at Scudder and Janus, so now I’m down to 4 brokerages, and I’m satisfied with all of them.

 

[razztazz]

American Century

 

[teej1985]

American Century

That's a different answer. Do you use their Private Client thing?

 

[razztazz]

That's a different answer. Do you use their Private Client thing?

Different from what? ha ha. No, I gave the private client thing a thought due to the inundation of friendly e-mails they were sending but decided it's not my thing. How much does one need to know about this? It did appeal to my ego though.

The only reason I am with Am century is because in the early 1980's when I first started investing after researching high, low, and wide for two years they seemed to have the best fund to start with.

Moving along to 2000 I closed out that fund and avoided the 3 year bear. I wished to retain that flexibility for the future so I opened a brokerage account with a simple bond fund/MMF/ bunch of SPY's structure. I didn't feel comfortable leaving for Vanguard or Fido or some discount brokerage with all that money.

 

[F.I.R.E User]

I left Edward Jones (Roth IRA).

Now, Fidelity (401k, ESPP and Roth IRA).

Vanguard taxable.

 

[VanWinkle]

100% Vanguard. I opened an account at FIDO and found them to be no more responsive than Vanguard- no reason to have 2 brokers so I closed the Fido account. I wasn't more impressed with the website or service. Not bad, just not better.

 

[FLJim]

Schwab

Schwab for over 40 years now.... Mostly good things to say about them but I've has a few bumps along the way.

It's been 46 years for me now. You and I are likely some of a few that remember when trading 100 shares at Schwab meant a commission of either $24.95 or maybe $21.95 (can't recall exactly), and then added commission for shares over 100. The good old days!

 

[ERObjd]

I am a very late starter started with about 8K back in Jan 2021 and have my entire retirement account (all taxable) in Vanguard Balanced fund and some in Vanguard wellington. currently about 12K total with 11K in VBIAX and 1K in Wellington.
We considered Fidelity ,Schwab and vanguard and it was 6 of 1 half dozen of the other. I like the way Vanguards website interface works and now am pretty confortable with it. It was basically a coin flip. IMO one cant go wrong with any of the big 3 Vanguard Fidelity or Schwab. They all have low cost index funds. My 21 yr daughterr just started a Roth IRA and went with Fidelity . she is in the FZROX fund. My wife does have a very small TIAA (social choice fund that she had when she taught HS math m any years. She says she does not like the TIAA web page as it is harder to navigate than Vanguard .