SecondAttempt
Thinks s/he gets paid by the post
For decades T. Rowe Price has had 2 tiers of "premium" services, Personal Services and Enhanced Personal Services. I have qualified for a very long time and enjoyed a few "perks" like a WSJ subscription, lower fees, and better customer service. It's a lot like Vanguard's flagship service.
Today I got an email that seems to say they are scrapping that system and implementing a new "Summit Program." But the announcement is low on details.
The main benefit they advertise is access to a class of shares with lower fees. That's all well and good but it looks like getting the lower fees would mean selling my shares and buying the new shares. This creates a tax event so I'd have to pay capital gains taxes that would exceed any benefit of the lower fees for several years.
Anyone know anything about this?
All in all I am happy with TRP but this might just be a trigger to switch to Fidelity or Schwab. (Vanguard is out based on a thread her a few weeks ago.)
Today I got an email that seems to say they are scrapping that system and implementing a new "Summit Program." But the announcement is low on details.
The main benefit they advertise is access to a class of shares with lower fees. That's all well and good but it looks like getting the lower fees would mean selling my shares and buying the new shares. This creates a tax event so I'd have to pay capital gains taxes that would exceed any benefit of the lower fees for several years.
Anyone know anything about this?
All in all I am happy with TRP but this might just be a trigger to switch to Fidelity or Schwab. (Vanguard is out based on a thread her a few weeks ago.)