USAA former investments

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MrsBDG
Posts: 371
Joined: Thu Apr 13, 2017 4:04 pm

USAA former investments

Post by MrsBDG »

Has any one been able to determine if there are any advantages to keeping your prior USAA investment accounts at the location to which they were moved (Schwab etc.) For example, based on a certain investment amount, USAA gave free wire transfers. Are there any current links between USAA and the recipients of those investment funds and any reason not to just move them to Fidelity or Vanguard?
Rex66
Posts: 2955
Joined: Tue Aug 04, 2020 5:13 pm

Re: USAA former investments

Post by Rex66 »

None

I’m personally most satisfied with Schwab

(I also have accounts at fidelity and vanguard)
Topic Author
MrsBDG
Posts: 371
Joined: Thu Apr 13, 2017 4:04 pm

Re: USAA former investments

Post by MrsBDG »

What are you pleased with at Schwab versus the others?
egri
Posts: 177
Joined: Mon Apr 04, 2022 10:22 pm

Re: USAA former investments

Post by egri »

Not the poster you replied to, but I've also got accounts with Vanguard, Schwab and Fidelity, and Schwab's UI and site layout are the most intuitive to me and easiest for me to use.
1moreyr
Posts: 465
Joined: Sun Jan 12, 2020 6:10 pm

Re: USAA former investments

Post by 1moreyr »

USAA moved me to Schwab when they stopped their investments and it's been a blessing. During the course of consolidating my wife's 401Ks/IRA to Schwab a note came up asking my available assets in liquidity. It said it was an SEC requirement but I don't know. I don't usually fill this out but I did. I got a call from a local Schwab rep and asked if they could be of any support. (coincidentally :shock: ). I am assuming the amount alerted them.

He said they keep a local staff for larger accounts and I could call them with questions. (I was skeptical and posted a question to BH), notes below. The reason is to keep larger accounts happy, to stay with Schwab etc.....

viewtopic.php?p=6572759#p6572759


We spoke a little, he referred me to the account manager who seems very knowledgeable. He has been completely no pressure when I told him I handle my own stuff. Thanks to the BH posting I did, I got a $1500 promo for moving $1M to the account (which i was in the process of doing anyway). I also just moved $100k more. I called in advance and asked what he would do if i did this. He offered $300. I know it might not seem like much but i have received $1800 for doing what i was going to do anyway.

I am in the process of moving some money from VBTLX to T bills to better match my personal duration. I had never done that before. The account manager referred me to a fixed income specialist that spent an hour answering all my questions at no cost. They also will do the Bond trades commission free if you tell them what to do. I remain skeptical and want to know how to do it myself. I have just started doing them. The specialist has also answered a couple questions for me via email

Even before all of this, i was starting to like Schwab more just using the customer service line. I spent less time on the phone waiting than I did for Vanguard or USAA. I also felt the quality of answers were better.

With local support, The service has made me a complete convert.

full disclosure, I am retired and My personal 401K remains at my previous employer with the funds in Vanguard. I get the institutional investor expense rate there and I don't have a need for that money yet so I left it there. I am trying to consolidate down so if something happens to me, my wife can handle these investments. She has little to no interest and so getting the investments down to Schwab/Vanguard/ Treasury direct seems to be a better approach than the 12 different places today.
dbr
Posts: 46181
Joined: Sun Mar 04, 2007 8:50 am

Re: USAA former investments

Post by dbr »

Already having accounts at Fidelity we moved our USAA holdings to Fidelity well in advance of the transition.

Objectively Schwab or Fidelity are both fine.
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