Help searching for an HSA custodian with stock broker option...
Hello forum members,
I have been constantly searching for the past week to find the perfect HSA custodian with a stock broker option. I thought I had found a perfect custodian + broker match through HSA Resources--Falcon National Bank--BrokersXpress (an OptionsXpress subsidiary). Here is what I liked about them:
HSA Resources uses Falcon National Bank as the custodian. Everything was a breeze to set up, quick and friendly service, plus low annual custodian fees: Flat rate of $25/year for HSA Express, a flat BrokersXpress rate of $15/year + $14.95 per trade, plus minor misc expenses such as checks, etc.
Yesterday I found out that Falcon National Bank requires a minimum balance of $1000 at all times and charges a $10/month fee for HSA account balances less than $1000. This means that my initial 2009 brokerage deposit with BrokersXpress would only be $2000 maximum instead of the $3000 I had planned for. Great... there goes my plan to buy 1 share of Berkshire B stock!
Does anyone know of an HSA custodian with a stock broker option which offers low fees and does not require a minimum balance within the HSA account at all times? My search has run dry. If I cannot find that perfect HSA custodian combination then I will still gladly choose HSA Resources--Falcon National Bank--BrokersXpress, however having immediate brokerage control of my full 2009 $3,000 contribution is what I want.