What Brokers Sell Vanguard Admiral Shares?

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Leesbro63
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What Brokers Sell Vanguard Admiral Shares?

Post by Leesbro63 »

Besides Vanguard (obviously), what other brokers have arrangements where you can buy new Admiral shares? I'm not talking about being able to hold existing Admiral shares transferred from Vanguard....most of the major brokers let you do that. I'm asking what brokers will let an investor purchase new shares of Vanguard Funds Admiral Shares. Fidelity? Schwab?

This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by Lalamimi »

Investing in my HSA is through Schwab and I was able to purchase.
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CyclingDuo
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by CyclingDuo »

Leesbro63 wrote: Sun Aug 01, 2021 5:44 pm Besides Vanguard (obviously), what other brokers have arrangements where you can buy new Admiral shares? I'm not talking about being able to hold existing Admiral shares transferred from Vanguard....most of the major brokers let you do that. I'm asking what brokers will let an investor purchase new shares of Vanguard Funds Admiral Shares. Fidelity? Schwab?

This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
The ETF's have the same ER fees as the Admiral Shares. So any broker will let you buy VTI, VOO, VXUS, BND, etc.... .
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by ResearchMed »

Leesbro63 wrote: Sun Aug 01, 2021 5:44 pm Besides Vanguard (obviously), what other brokers have arrangements where you can buy new Admiral shares? I'm not talking about being able to hold existing Admiral shares transferred from Vanguard....most of the major brokers let you do that. I'm asking what brokers will let an investor purchase new shares of Vanguard Funds Admiral Shares. Fidelity? Schwab?

This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
New shares when you do not already hold the fund at all, or adding new shares to those you already hold (e.g., from having transfered them in kind)?

RM
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runninginvestor
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by runninginvestor »

E-Trade allows some VG admiral funds as NTF:
https://www.etrade.wallst.com/Research/ ... ct&env=PRD
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Leesbro63
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by Leesbro63 »

ResearchMed wrote: Sun Aug 01, 2021 5:49 pm
Leesbro63 wrote: Sun Aug 01, 2021 5:44 pm Besides Vanguard (obviously), what other brokers have arrangements where you can buy new Admiral shares? I'm not talking about being able to hold existing Admiral shares transferred from Vanguard....most of the major brokers let you do that. I'm asking what brokers will let an investor purchase new shares of Vanguard Funds Admiral Shares. Fidelity? Schwab?

This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
New shares when you do not already hold the fund at all, or adding new shares to those you already hold (e.g., from having transfered them in kind)?

RM
Both. I assume if they let you buy new shares (where you don't already own the fund), you can also add to an existing holding.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by retired@50 »

Leesbro63 wrote: Sun Aug 01, 2021 5:44 pm This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
I'm not sure there is a static answer to this question. With all the mergers and acquisitions in the brokerage field, the answer may be different next year. According to user galawdawg, E-Trade used to have a decent offering of Vanguard funds with no fees. But I suspect they were recently acquired by someone...???

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Re: What Brokers Sell Vanguard Admiral Shares?

Post by nalor511 »

CyclingDuo wrote: Sun Aug 01, 2021 5:49 pm
Leesbro63 wrote: Sun Aug 01, 2021 5:44 pm Besides Vanguard (obviously), what other brokers have arrangements where you can buy new Admiral shares? I'm not talking about being able to hold existing Admiral shares transferred from Vanguard....most of the major brokers let you do that. I'm asking what brokers will let an investor purchase new shares of Vanguard Funds Admiral Shares. Fidelity? Schwab?

This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
The ETF's have the same ER fees as the Admiral Shares. So any broker will let you buy VTI, VOO, VXUS, BND, etc.... .
The ETFs actually have a lower ER in most cases now
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by investmax »

You can buy Vanguard Mutual Funds in a TD Ameritrade Brokerage account.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by bog007 »

bought vbiax at etrade. no fee

be careful at td ameritrade charge 49.99. got it reversed
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by HawkeyePierce »

investmax wrote: Sun Aug 01, 2021 9:44 pm You can buy Vanguard Mutual Funds in a TD Ameritrade Brokerage account.
For a steep fee.

If you want to use mutual funds at TDA, stick to Schwab funds—and IIRC even that's a recent development.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by calwatch »

JP Morgan Self Directed (Chase YouInvest). I listed them here: viewtopic.php?p=6048178#p6048178
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by sycamore »

retired@50 wrote: Sun Aug 01, 2021 6:42 pm
Leesbro63 wrote: Sun Aug 01, 2021 5:44 pm This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
I'm not sure there is a static answer to this question. With all the mergers and acquisitions in the brokerage field, the answer may be different next year. According to user galawdawg, E-Trade used to have a decent offering of Vanguard funds with no fees. But I suspect they were recently acquired by someone...???

Regards,
Yes, E*Trade was acquired by Morgan Stanley.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by tj »

HawkeyePierce wrote: Mon Aug 02, 2021 12:16 am
investmax wrote: Sun Aug 01, 2021 9:44 pm You can buy Vanguard Mutual Funds in a TD Ameritrade Brokerage account.
For a steep fee.

If you want to use mutual funds at TDA, stick to Schwab funds—and IIRC even that's a recent development.
Schwab funds became available NTF when Schwab acquired TDA.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by galawdawg »

Leesbro63 wrote: Sun Aug 01, 2021 5:44 pm Besides Vanguard (obviously), what other brokers have arrangements where you can buy new Admiral shares? I'm not talking about being able to hold existing Admiral shares transferred from Vanguard....most of the major brokers let you do that. I'm asking what brokers will let an investor purchase new shares of Vanguard Funds Admiral Shares. Fidelity? Schwab?

This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
Most of the major brokerages such as Fidelity, Schwab, E*TRADE, Chase YouInvest (now YouInvest by JP Morgan) and others will allow you to purchase many (but not all) Vanguard mutual funds (Admiral shares).

At E*TRADE and Chase YouInvest, most of those Vanguard funds have no transaction fees (although there are a few that do).

At Schwab, if you have $250k or more (and some report just $100k or more), they will waive transaction fees on all Vanguard mutual funds they offer. If you don't qualify for the fee waiver, the transaction fee is $49.95 per purchase (no fee charged for automatic reinvestment of dividends).

At Fidelity, they will NOT waive transaction fees on Vanguard mutual funds, no matter your portfolio size. Their standard transaction fee is $49.95 per purchase (again, no fee charged for automatic reinvestment of dividends) but some Vanguard mutual funds incur a $75.00 transaction fee per purchase which includes, among others, VTSAX, VBTLX, VFIAX and VTIAX. Yep, every Vanguard mutual fund in the two-fund or three-fund portfolio will cost $75.00 to purchase at Fidelity.

I can't speak to Ally Invest, TD Ameritrade (which I believe will have the same policies and fees as Schwab once the integration is complete) or others.

On most major brokerage websites, you can get a quote for any Vanguard mutual fund and see if it is available for purchase (including in your desired Admiral shares) and what transaction fee, if any, would be charged.

Hope that helps!
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by tj »

galawdawg wrote: Mon Aug 02, 2021 9:47 am
Leesbro63 wrote: Sun Aug 01, 2021 5:44 pm Besides Vanguard (obviously), what other brokers have arrangements where you can buy new Admiral shares? I'm not talking about being able to hold existing Admiral shares transferred from Vanguard....most of the major brokers let you do that. I'm asking what brokers will let an investor purchase new shares of Vanguard Funds Admiral Shares. Fidelity? Schwab?

This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
At Schwab, if you have $250k or more (and some report just $100k or more), they will waive transaction fees on all Vanguard mutual funds they offer. If you don't qualify for the fee waiver, the transaction fee is $49.95 per purchase (no fee charged for automatic reinvestment of dividends).

Wow! I thought it was $1,000,000.00. Is it $250k in aggregate in all accounts or just in a certain type (IRA or brokage? I'd switch to Schwab tomorrow if I could get fee waivers on all Vanguard funds.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by galawdawg »

tj wrote: Mon Aug 02, 2021 10:04 am
galawdawg wrote: Mon Aug 02, 2021 9:47 am
Leesbro63 wrote: Sun Aug 01, 2021 5:44 pm Besides Vanguard (obviously), what other brokers have arrangements where you can buy new Admiral shares? I'm not talking about being able to hold existing Admiral shares transferred from Vanguard....most of the major brokers let you do that. I'm asking what brokers will let an investor purchase new shares of Vanguard Funds Admiral Shares. Fidelity? Schwab?

This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
At Schwab, if you have $250k or more (and some report just $100k or more), they will waive transaction fees on all Vanguard mutual funds they offer. If you don't qualify for the fee waiver, the transaction fee is $49.95 per purchase (no fee charged for automatic reinvestment of dividends).

Wow! I thought it was $1,000,000.00. Is it $250k in aggregate in all accounts or just in a certain type (IRA or brokage? I'd switch to Schwab tomorrow if I could get fee waivers on all Vanguard funds.
Aggregated among all accounts. $250k at Schwab also gets you a dedicated financial consultant who you can contact by direct email or direct phone line for any Schwab needs (no cost). https://www.schwab.com/invest-with-us/p ... nal-advice

I'd recommend you use this tool (https://client.schwab.com/public/consultant/find) to find the nearest consultants to you (pick an actual Schwab branch, not one of their neighborhood franchise locations), take a look at their profile/bio/resume, and pick one to call. Ask them about a fee waiver for Vanguard funds. Be sure to also ask them what they can offer by way of a transfer bonus...they will generally match what other brokerages are offering, such as E*TRADE and Ally Invest.

Let us know how it goes...
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by tj »

galawdawg wrote: Mon Aug 02, 2021 10:09 am
tj wrote: Mon Aug 02, 2021 10:04 am
galawdawg wrote: Mon Aug 02, 2021 9:47 am
Leesbro63 wrote: Sun Aug 01, 2021 5:44 pm Besides Vanguard (obviously), what other brokers have arrangements where you can buy new Admiral shares? I'm not talking about being able to hold existing Admiral shares transferred from Vanguard....most of the major brokers let you do that. I'm asking what brokers will let an investor purchase new shares of Vanguard Funds Admiral Shares. Fidelity? Schwab?

This discussion was touched upon on another recent thread, but the actual answer to this question has not been teased out definitively.
At Schwab, if you have $250k or more (and some report just $100k or more), they will waive transaction fees on all Vanguard mutual funds they offer. If you don't qualify for the fee waiver, the transaction fee is $49.95 per purchase (no fee charged for automatic reinvestment of dividends).

Wow! I thought it was $1,000,000.00. Is it $250k in aggregate in all accounts or just in a certain type (IRA or brokage? I'd switch to Schwab tomorrow if I could get fee waivers on all Vanguard funds.
Aggregated among all accounts. $250k at Schwab also gets you a dedicated financial consultant who you can contact by direct email or direct phone line for any Schwab needs (no cost). https://www.schwab.com/invest-with-us/p ... nal-advice

I'd recommend you use this tool (https://client.schwab.com/public/consultant/find) to find the nearest consultants to you (pick an actual Schwab branch, not one of their neighborhood franchise locations), take a look at their profile/bio/resume, and pick one to call. Ask them about a fee waiver for Vanguard funds. Be sure to also ask them what they can offer by way of a transfer bonus...they will generally match what other brokerages are offering, such as E*TRADE and Ally Invest.

Let us know how it goes...
How do you distinguish between a branch and a franchise? I'll give a try after my 1 year holdign period at Interactive Brokers is done in the spring.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by galawdawg »

When you look at the results, for a consultant at a Schwab branch, you'll see
VP - Financial Consultant
Alpharetta. 2845 Old Milton Pkwy . Alpharetta, GA 30009
And the branch name will be blue text you can click on to go to the branch's website (here, Alpharetta).

For a consultant at the franchise locations, you'll see
Independent Branch Leader and Financial Consultant
Buford-Independent Branch. 3264 Buford Drive, Suite 80. Buford, GA30519
The office name will be black text with no link and there is a blue question mark next to "Independent Branch". When you click on that question mark, it explains
Independent Branches are franchise branches and offer the same brokerage services and advice solutions as other Schwab branches.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by investmax »

HawkeyePierce wrote: Mon Aug 02, 2021 12:16 am
investmax wrote: Sun Aug 01, 2021 9:44 pm You can buy Vanguard Mutual Funds in a TD Ameritrade Brokerage account.
For a steep fee.

If you want to use mutual funds at TDA, stick to Schwab funds—and IIRC even that's a recent development.
To an extent that is correct, TDA charges $49.99 per Mutual fund transaction if it is a Vanguard Mutual fund. The way I use it on my taxable brokerage account with TD is that I purchased the initial minimum of VTSAX for $3000 paying the additional TD transaction fee of $49.99. After that you can schedule a recurring purchase (This can be monthly or weekly and of any amount like $500 per month or $200 per week) and this is free. The only condition is you need to do this recurring purchase for minimum 3 times. So in case you want to invest $5000 additionally you can transfer the amount to TD and call them up and ask them to make weekly purchases of $1666 for 3 times. This will be handled for free.

Similarly again next time you have some funds to invest you can split it into 3 recurring purchases.

Of course if you want to invest in a completely different fund, that will entail an additional TD transaction fee of $49.99 per new fund.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by beyou »

firstrade.com
has no transaction fees for any mutual funds and seems to have many admiral funds that are not available at most brokerages.

Service hours are similar to Vanguard though.
If 27x7 service is needed, and all/most Admiral funds, I think you are out of luck.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by cchrissyy »

galawdawg wrote: Mon Aug 02, 2021 9:47 amAt Schwab, if you have $250k or more (and some report just $100k or more), they will waive transaction fees on all Vanguard mutual funds they offer. If you don't qualify for the fee waiver, the transaction fee is $49.95 per purchase (no fee charged for automatic reinvestment of dividends).
I recently asked someone my local Schwab branch about this, since I wanted to hold a vanguard mutual fund there and had seen various customers here report that they could waive the purchase fee for a particular fund or fund family. I was on the phone with someone titled "Vice President – Financial Consultant " who had reached out to me before for "anything I can do to help" but he insisted that no, I must be misinformed and they do not do this for anybody no matter the account size, and no such account setting exists in their system. He then said he could waive it just one time but it was really not OK to expect it, and tried to grill me a little on my source of funds and how often I intended to add to this position. The entire interaction was disappointing and slightly patronizing. I decided to have this particular holding at Vanguard brokerage instead. I have been happy with Schwab for all my accounts for more than 20 years, but perhaps it's because most of my experience is over the phone or internet and not the local branch!
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by flyingcows »

Do you mind sharing the motivation behind wanting to purchase Vanguard mutual funds vs the equivalent ETFs?
This content is for entertainment purposes only
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by nalor511 »

flyingcows wrote: Mon Aug 23, 2021 11:47 pm Do you mind sharing the motivation behind wanting to purchase Vanguard mutual funds vs the equivalent ETFs?
I don't like the fiddliness of ETFs,bid/ask,limit,FINRA fee,etc.

But I have some now anyway, still prefer funds
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by galawdawg »

cchrissyy wrote: Mon Aug 23, 2021 11:21 pm
galawdawg wrote: Mon Aug 02, 2021 9:47 amAt Schwab, if you have $250k or more (and some report just $100k or more), they will waive transaction fees on all Vanguard mutual funds they offer. If you don't qualify for the fee waiver, the transaction fee is $49.95 per purchase (no fee charged for automatic reinvestment of dividends).
I recently asked someone my local Schwab branch about this, since I wanted to hold a vanguard mutual fund there and had seen various customers here report that they could waive the purchase fee for a particular fund or fund family. I was on the phone with someone titled "Vice President – Financial Consultant " who had reached out to me before for "anything I can do to help" but he insisted that no, I must be misinformed and they do not do this for anybody no matter the account size, and no such account setting exists in their system. He then said he could waive it just one time but it was really not OK to expect it, and tried to grill me a little on my source of funds and how often I intended to add to this position. The entire interaction was disappointing and slightly patronizing. I decided to have this particular holding at Vanguard brokerage instead. I have been happy with Schwab for all my accounts for more than 20 years, but perhaps it's because most of my experience is over the phone or internet and not the local branch!
Sorry to hear that. I get the impression that branches do have a certain amount of autonomy within certain limits. And in your case, the consultant you spoke to is either misinformed, was less than candid with you, or was referring only to the practices of that individual branch. (It may have to do with the fact you don't have a dedicated financial consultant so the one you spoke to doesn't receive any compensation related to your business with Schwab.) I've referred a half-dozen friends and family members to Schwab and everyone of them was offered the fee waiver (their portfolio sizes were $300k and up).

So Schwab absolutely does waive transaction fees for a single fund family for some customers and there is a setting in their system to setup the fund family fee waiver. For example, this is what I see when I place an order to purchase VTSAX:
Image

Note the transaction fee is $0.00. Those who get "one-time" fee waivers see the normal $49.95 transaction fee on that screen and have to call their consultant to have it reversed.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by cchrissyy »

That's good to know, even if I won't use it. Thanks for the detailed information! :beer
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by bradinsky »

We just purchased $25K of a VG Admiral mutual fund at Schwab. No fee & no problem.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by Booogle »

TD Ameritrade.

Its possible they made the Vanguard funds free, because I don't see a commission when I bought some recently.
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Re: What Brokers Sell Vanguard Admiral Shares?

Post by bluewater23t »

bradinsky wrote: Tue Aug 24, 2021 6:49 am We just purchased $25K of a VG Admiral mutual fund at Schwab. No fee & no problem.
I have well north of 250k at Schwab, but when I called them about buying Vanguard mutual funds, they also said they have never heard of a fee waiver, hahaha. Maybe because I cancelled their consulting services? I dunno....big deal. Plenty of other things to purchase with no $50 charge.
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