I like to keep a few things separated.
All investments at VG
All banking at USAA (transaction processing)
CCs not connected to our bank.
Thank you, or your family member, for your service!
Happy Memorial Day weekend!
I like to keep a few things separated.
All investments at VG
All banking at USAA (transaction processing)
CCs not connected to our bank.
Used one large bank for everything for many years, all self directed.
This year started moving most all investments to VG.
Plan is to keep the banking at the large bank with a portion of the taxable account ($250k minimum) to maintain the best they offer. As noted the rest will be at VG.
If we stay as VG is yet to be determined, all investments are in VG mutual funds, wanted the option to convert to ETFs if we wanted to move again. Really prefer MFs over ETFs but dealing with MFs outside of house has been becoming more of a PIA over the years, suspect it's just going to become more fun in the future.
It does give me a little piece of mind having 2 institutions, even though it's really a false security. Only personal experience is an institutions web page being down or portion of it, that does make one feel a little quezy with everything in one basket.
I have found that if the website is down, try the mobile site. I have never had an issue having access to at least one. As for local cash, that’s what ATMs are for.Used one large bank for everything for many years, all self directed.
This year started moving most all investments to VG.
Plan is to keep the banking at the large bank with a portion of the taxable account ($250k minimum) to maintain the best they offer. As noted the rest will be at VG.
If we stay as VG is yet to be determined, all investments are in VG mutual funds, wanted the option to convert to ETFs if we wanted to move again. Really prefer MFs over ETFs but dealing with MFs outside of house has been becoming more of a PIA over the years, suspect it's just going to become more fun in the future.
It does give me a little piece of mind having 2 institutions, even though it's really a false security. Only personal experience is an institutions web page being down or portion of it, that does make one feel a little quezy with everything in one basket.
Fidelity has their own team of in house hackers that search the dark web for anything fidelity .
They found my wife’s info up there …she never even logs in to her account .
So they froze our accounts and notified us .
It took quite a few days to get new accounts set up , the links and atm cards so we were glad we could do everything at chase we could at fidelity for the most part .
We also lost internet twice here .once in 9-11 and again in sandy so it was good having a local place to get money
We consolidated everything at Schwab and all equity into one fund. Very liberating.
Well, years ago I burned up all our taxable accounts paying taxes on Roth conversions, so we have only Roths and tIRAs. Hence no tax consequences of moving money around as we like. Also no tax consequences to dumping all the cats and dogs semi-identical mutual funds and buying VTWAX, which is now our chosen equity fund.Pardon my ignorance on the matter, but though single, I too have my assets spread out because I caught some good interests at the time on CDs, Savings, MMs etc. plus an IRA (at over 4%!) and 4 simple annuities. But how can one consolidate something like this? Will appreciate a lot explaning so I can consider to also become liberated from these ties lol! Thanks so much in advance to you and/or anyone else who cares to enlighten me. )
Cash incentives should be considered if you are seeking a one-stop-shop? We are currently split by 3 banks, 1 cu, TD, and 2 brokers. Fido is our current choice for most banking cash flow due to set ups, but we have a lot of IRA at Schwab and Fido. Fido offered us $3500 to move the Schwab over to Fido, which I accepted and started the account transfers. My Schwab guy got very worried seeing these in process and called me to offer to match the $3500 if we stopped to moves. His two arguments in addition to the cash, were 1) "does Fido give you a reps cell phone to call anytime like he does?" and 2) if you do not like the StreetSmart Edge trading at Schwab, the TD Ameritrade platform will soon be adopted thinkorswim, and it will be better than Fido's Active Trader.
Man, he got me thinking.....Fido dropped my Private Client person and now has a "team" to support. Schwab has a single point of contact at the local office, who does provide some fun events during the year. I am stewing about this over the weekend and though I will likely maintain my cash management at Fido, I might reconsider consolidating major accounts at Schwab. Both companies are getting more into setting up sales calls with their "top advisors" which is a little annoying.....
Jeez. If my Schwab guy has events I have never heard of them. Small loss, probably. He does clearly understand my investment strategy and I have never once gotten a sales call from anyone there. His role for us is dealing with administrivia and answering the occasional question. We understand each other well.If Schwab has fun events and will give you the same $$$, I'd keep it at Schwab, but i'd reiterate that I don't want the sales calls.
Hi All,
Been a lurker here for years. Real quick question: What does everyone use for managing all of your money?
DW and I feel like we have money spread out all over the place, separate 401ks (Can't do much about that), but 2 separate banks, multiple trading platforms (TDA/Fidelity), multiple ESPP companies, Treasury Direct, etc
What do you all use to try to consolidate some of these accounts going into retirement? Its becoming unbearable to manage for us.
Thanks!
How do you like Chase banking?
We currently are all in at Fidelity, but we do have Chase credit cards which we'll have for a few more years. Just trying to figure out if I want to go back to a B&M local bank for any local banking needs that Fidelity can't deliver.
I like Chase as I like the online bill pay part of the website, nice and easy.
I also like the auto pay setting for their CC's so I don't have to remember to pay those.
Also have used their Notary service many times.
They have a branch close to us so it's been convenient.
I keep a checking accnt there only, as their savings rate is lousy, do occasionally take advantage of some bonus offer to open a savings account, but close it 6 months later.
Avoid their brokerage, MF reps like the plague.
Have been there over 2 decades.