Schwab or Fidelity costs
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Schwab or Fidelity costs
Recent transactions with Vanguard have been slow, sometimes being ignored. This has left me with the feeling that I should have sone Roth IRA funds elsewhere with a brick and mortar presence where I can actually talk to someone if I need to.
Fidelity seems to have transaction fees on trades, and I am not seeing a low ER.
Schwab looks better
SWPPX
is part of the One Source Funds with $0 online trades, does not appear to have any loads .
For those of you who invest with Schwab have a better choice?
I would go with TIAA, but they upped ERs on IRA to 0.69 which I would prefer not to pay.
I could put it in a credit union CD but they do not pay much.
I'm not abandoning Vanguard, but just diversifying a bit to get a better response than "just wait" on a transaction. I don't want to trash Vanguard, but almost nobody would have waited longer than I did.
This was this is the only issue that I have had with them.
Fidelity seems to have transaction fees on trades, and I am not seeing a low ER.
Schwab looks better
SWPPX
is part of the One Source Funds with $0 online trades, does not appear to have any loads .
For those of you who invest with Schwab have a better choice?
I would go with TIAA, but they upped ERs on IRA to 0.69 which I would prefer not to pay.
I could put it in a credit union CD but they do not pay much.
I'm not abandoning Vanguard, but just diversifying a bit to get a better response than "just wait" on a transaction. I don't want to trash Vanguard, but almost nobody would have waited longer than I did.
This was this is the only issue that I have had with them.
Last edited by MathWizard on Fri Jan 28, 2022 1:13 pm, edited 1 time in total.
Re: Schwab or Fidelity costs
Fidelity doesn't charge to trade Vanguard ETFs, and in addition, Fidelity index mutual funds (where inside a Roth IRA the capital gain distributions are irrelevant) have lower ERs than Vanguard's.MathWizard wrote: ↑Fri Jan 28, 2022 12:06 pm Fidelity seems to have transaction fees on trades, and I am not seeing a low ER.
- TheTimeLord
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Re: Schwab or Fidelity costs
Now you have me curious, what fees are you seeing for online trades with Fidelity?MathWizard wrote: ↑Fri Jan 28, 2022 12:06 pm Fidelity seems to have transaction fees on trades, and I am not seeing a low ER.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. |
Run, You Clever Boy! [9085]
Re: Schwab or Fidelity costs
Personally I see no real reason to use Vanguard. A few active mutual funds, some like the lifestyle funds but overall my dealings with Vanguard have been painful. I closed my account a few years ago but am currently dealing with them again as a beneficiary on my father's account and it is still painful.
Fidelity and Schwab are both better IMO. And I've used TD Ameritrade for a long time.
Fidelity and Schwab are both better IMO. And I've used TD Ameritrade for a long time.
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If you think something is important and it doesn't involve the health of someone, think again. Life goes too fast, enjoy it and be nice.
Re: Schwab or Fidelity costs
Fidelity has fees to trade VG MFs, which is likely what this person is seeing. Fidelity has no fees to trade all ETFs, including VG ETFs. VG ETF shares also have lower ERs than MF shares. If for some reason you don't like Fidelity, ETF shares are portable, you can take them to any other broker with no fees most anywhere. Even if you want to stay at VG, you can call them and have your MF shares converted to ETF shares, and still get the lower ERs.TheTimeLord wrote: ↑Fri Jan 28, 2022 12:31 pmNow you have me curious, what fees are you seeing for online trades with Fidelity?MathWizard wrote: ↑Fri Jan 28, 2022 12:06 pm Fidelity seems to have transaction fees on trades, and I am not seeing a low ER.
Re: Schwab or Fidelity costs
Slow and ignored transactions won’t be a thing if you make them yourself online.MathWizard wrote: ↑Fri Jan 28, 2022 12:06 pm Recent transactions with Vanguard have been slow, sometimes being ignored. This has left me with the feeling that I should have sone Roth IRA funds elsewhere with a brick and mortar presence where I can actually talk to someone if I need to.
Fidelity seems to have transaction fees on trades, and I am not seeing a low ER.
Schwab looks better
SWPPX
is part of the One Source Funds with $0 online trades, does not appear to have any loads .
For those of you who invest with Schwab have a better choice?
I would go with TIAA, but they upped ERs on IRA to 0.69 which I would prefer not to pay.
I could put it in a credit union CD but they do not pay much.
I'm not abandoning Vanguard, but just diversifying a bit to get a better response than "just wait" on a transaction. I don't want to trash Vanguard, but almost nobody would have waited longer than I did.
This was this is the only issue that I have had with them.
Re: Schwab or Fidelity costs
delete
Last edited by 6NDone on Sat Jan 29, 2022 11:49 am, edited 1 time in total.
100% US TSM
Re: Schwab or Fidelity costs
I've been at Schwab now for about 30 years, but only went in to the physical office a few times. Still, when I did, they were always helpful, and there's no arguing with the major effect they've had on the industry, especially the lowering of fund expenses. I still remember the first person I talked to there. He recommend index funds and age-in-bonds. If I'd listened to him then, I'd be much, much better off than I am now, but some things need to be learned the hard way! In any case, great service, well-designed web site if you have a fast connection... But if in-person treatment is really what you're looking for then, kind of like buying a car, I'd suggest going to the nearest offices and take them for a "test drive." Ask questions about the issues that concern you. Interview them like they're applying for a job at your company, then see what you think.
Oh, one thing you might ask is if there will be a specific person handling your account. In theory I have someone assigned to me, and we used to talk by phone or E-mail, but I haven't heard from her in years. If they're still doing that -- assigning a specific person to accounts -- then you'd probably be able to meet them, talk over your objectives, etc.
Oh, one thing you might ask is if there will be a specific person handling your account. In theory I have someone assigned to me, and we used to talk by phone or E-mail, but I haven't heard from her in years. If they're still doing that -- assigning a specific person to accounts -- then you'd probably be able to meet them, talk over your objectives, etc.
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Re: Schwab or Fidelity costs
Fidelity is cheaper in most cases and has extremely low ER of their index funds (0.00 to 0.015 for US stock index funds, 0.035-0.06 for International stock index funds and 0.03 for most bond index funds). They also lowered their fees on treasury money market funds to 0.06. They have no transaction fees and no minimums unless you try and buy certain non-Fidelity mutual funds which is an unnecessary endeavor. Although I am not sure what you mean by slow transactions at Vanguard. I am assuming your not talking about ETF or mutual fund purchases online as that should execute exactly per Vanguard and exchange rules.MathWizard wrote: ↑Fri Jan 28, 2022 12:06 pm Recent transactions with Vanguard have been slow, sometimes being ignored. This has left me with the feeling that I should have sone Roth IRA funds elsewhere with a brick and mortar presence where I can actually talk to someone if I need to.
Fidelity seems to have transaction fees on trades, and I am not seeing a low ER.
Schwab looks better
SWPPX
is part of the One Source Funds with $0 online trades, does not appear to have any loads .
For those of you who invest with Schwab have a better choice?
I would go with TIAA, but they upped ERs on IRA to 0.69 which I would prefer not to pay.
I could put it in a credit union CD but they do not pay much.
I'm not abandoning Vanguard, but just diversifying a bit to get a better response than "just wait" on a transaction. I don't want to trash Vanguard, but almost nobody would have waited longer than I did.
This was this is the only issue that I have had with them.
“You only find out who is swimming naked when the tide goes out.“ — Warren Buffett
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Re: Schwab or Fidelity costs
Vanguard was the Digital Equipment Corp of finance.
They overwhelmed the computing industry, producing machines a fraction of the size and cost of Big Blue IBM. They invented networking technologies that still exist today. They continued dropping machine sizes until they got to the PC size. They did produce the Rainbow, which was a PC but didn't have commitment, thinking that only scientists use computers. They toyed with buying little companies like Compaq, Apple, and others who they could get at the time with petty cash, but didn't think these upstarts would ever go anywhere. Then the upstarts exceeded DEC like a wave and soon, DEC was irrelevant, then broken up and thrown to the wind.
We see this going on with Vanguard. They no longer offer advantages over the Fidelity, Schwabs of the world.
I have both Fidelity and Schwab accounts and I've not seen a transaction cost since several years ago when Schwab went to zero cost and everyone followed. Of course, Fidelity has their zero funds that not only have zero trading cost but no expense ratio costs.
They overwhelmed the computing industry, producing machines a fraction of the size and cost of Big Blue IBM. They invented networking technologies that still exist today. They continued dropping machine sizes until they got to the PC size. They did produce the Rainbow, which was a PC but didn't have commitment, thinking that only scientists use computers. They toyed with buying little companies like Compaq, Apple, and others who they could get at the time with petty cash, but didn't think these upstarts would ever go anywhere. Then the upstarts exceeded DEC like a wave and soon, DEC was irrelevant, then broken up and thrown to the wind.
We see this going on with Vanguard. They no longer offer advantages over the Fidelity, Schwabs of the world.
I have both Fidelity and Schwab accounts and I've not seen a transaction cost since several years ago when Schwab went to zero cost and everyone followed. Of course, Fidelity has their zero funds that not only have zero trading cost but no expense ratio costs.
Bogle: Smart Beta is stupid
Re: Schwab or Fidelity costs
+1. Well said.
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Re: Schwab or Fidelity costs
Thanks, this is what I wanted.Ferdinand2014 wrote: ↑Sat Jan 29, 2022 7:23 amFidelity is cheaper in most cases and has extremely low ER of their index funds (0.00 to 0.015 for US stock index funds, 0.035-0.06 for International stock index funds and 0.03 for most bond index funds). They also lowered their fees on treasury money market funds to 0.06. They have no transaction fees and no minimums unless you try and buy certain non-Fidelity mutual funds which is an unnecessary endeavor. Although I am not sure what you mean by slow transactions at Vanguard. I am assuming your not talking about ETF or mutual fund purchases online as that should execute exactly per Vanguard and exchange rules.MathWizard wrote: ↑Fri Jan 28, 2022 12:06 pm Recent transactions with Vanguard have been slow, sometimes being ignored. This has left me with the feeling that I should have sone Roth IRA funds elsewhere with a brick and mortar presence where I can actually talk to someone if I need to.
Fidelity seems to have transaction fees on trades, and I am not seeing a low ER.
Schwab looks better
SWPPX
is part of the One Source Funds with $0 online trades, does not appear to have any loads .
For those of you who invest with Schwab have a better choice?
I would go with TIAA, but they upped ERs on IRA to 0.69 which I would prefer not to pay.
I could put it in a credit union CD but they do not pay much.
I'm not abandoning Vanguard, but just diversifying a bit to get a better response than "just wait" on a transaction. I don't want to trash Vanguard, but almost nobody would have waited longer than I did.
This was this is the only issue that I have had with them.
The slow transaction was an IRA rollover which did not complete having waited 30 days. I cancelled it.