Choosing a broker

[walk]

The question: In your experience, what's a good brokerage for someone who prefers to do business over the internet and plans on making trades very infrequently?

My background: I'm 20, and I'll be graduating from college in 2007. I have some cash in CD's, but I have enough saved right now that I can afford to put up to 5K into the market without worrying about needing to raid it for cash. I think I should put it in a balanced mutual fund like Vanguard STAR or Wellington. I'll make monthly contributions of a few hundred dollars. Other than that I don't plan on making any trades in the near-future, but I think the day will come when I want to trade some specific stocks or switch funds. I prefer not to go through the trouble of changing brokers or going to different places to deal with different accounts. Once I graduate I expect to start adding about 10K a year. I already have an IRA I'm maxing out each year, so this is just for taxable investment.

Thanks for your input!

 

[cute fuzzy bunny]

If you're going to contribute primarily to vanguard accounts (not a bad idea), open them directly with vanguard and use their web site. You can establish a connection with your bank account such that its just an electronic funds transfer when you want to move money in and out. I've been using it for about 5 years. No problems.

You can even set up automatic monthly withdrawals.