Schwab Information Thread with FAQ, Links, Tips and Q&A

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
Post Reply
McDougal
Posts: 557
Joined: Tue Feb 27, 2018 2:42 pm
Location: Atlanta

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by McDougal »

galawdawg, glad to see you on the boards again, hope all is well, and happy holidays to you!
User avatar
jeffyscott
Posts: 13486
Joined: Tue Feb 27, 2007 8:12 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by jeffyscott »

galawdawg wrote: Wed Dec 29, 2021 9:27 am Transfer of an IRA to another brokerage is just as seamless as any other account. As long as your underlying investments can be held at the receiving brokerage, the process is the same whether IRA, taxable or Roth.
There's actually even less to worry about, since cost basis does not matter for an IRA account. Plus any bonus is either tax-deferred or tax-free.
bondsr4me
Posts: 2427
Joined: Fri Oct 18, 2013 7:08 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by bondsr4me »

galawdawg:

thanks for all the time and effort you have taken to make and keep this thread going.

your posts seem to always be very measured, full of info and non-ranting in nature.

it's always good to have such information available so others may make decisions that will be beneficial to them.

wishing you, and all BH's a Happy, Healthy 2022!
User avatar
Topic Author
galawdawg
Posts: 5231
Joined: Thu Dec 14, 2017 11:59 am
Location: Georgia

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by galawdawg »

McDougal wrote: Wed Dec 29, 2021 9:46 am galawdawg, glad to see you on the boards again, hope all is well, and happy holidays to you!
Thanks. All would be better if the Alabama game had a more desirable outcome! :wink:
Lazareth
Posts: 337
Joined: Tue Nov 01, 2016 9:21 am
Location: USA

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by Lazareth »

galawdawg wrote: Wed Dec 29, 2021 6:10 am As a result, I have divested all of our Vanguard holdings in our tax-advantaged accounts and substituted instead Schwab equivalents. We still hold VTSAX in our taxable brokerage account which will gradually be reduced as we draw down those funds to supplement our monthly retirement income. One bonus to moving our investments to Schwab funds is that our expense ratios were cut in half and are now even lower than the expense ratios for Vanguard ETFs.
Thank you for sharing this and for the informative thread. Quite a difference from when I happened upon this BH forum a decade ago... Vanguard it seemed could do no wrong so I would keep fairly quiet about being a longtime, satisfied Schwab client for our taxable brokerage accounts, retirement accounts, and joint checking/debit/ATM.
a/69, retired, married, enjoy p/t employment. Three-fund portfolio, after decades of chasing active-managed fund performance.
increment
Posts: 1736
Joined: Tue May 15, 2018 2:20 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by increment »

JAZZISCOOL wrote: Wed Dec 29, 2021 8:29 am I had no idea Schwab had franchises. I thought they were all corporate owned.
A bunch of entries on their list of locations say "Independent Branch." I guess the other, regular ones are run by corporate directly.
User avatar
jjunk
Posts: 957
Joined: Fri Aug 24, 2012 9:52 pm
Location: Seattle

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by jjunk »

I asked this in the Fidelity vs. Schwab thread but didnt get a response. Hoping maybe to get one here.

How does Schwab handle the reporting of events like dividends and capital gains? I know Fidelity updates their tax information almost immediately but since moving to Merrill, they only do it monthly (which I hate). Curious how Schwab handles those events? To be more explicit, if I sold MSFT today for a $5K gain, when would that show in their tax information? Similarly, if I received a dividend from a bond fund in taxable, when does that show up in tax information?
Lastrun
Posts: 1512
Joined: Wed May 03, 2017 6:46 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by Lastrun »

galawdawg wrote: Sat Aug 07, 2021 10:04 am
Tubes wrote: Sat Aug 07, 2021 9:54 am Question: is it easy to convert a tIRA (full or partial) to a Roth IRA at Schwab? Can this be done online.
Yes, you can do a Roth IRA conversion online at Schwab: https://client.schwab.com/Accounts/Roth ... rsion.aspx?

Very simple and straightforward.
Question: Does Schwab allow zero balance tIRA's to remain open until the funding and conversion in the next year?
nalor511
Posts: 5059
Joined: Mon Jul 27, 2015 1:00 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by nalor511 »

Lastrun wrote: Wed Dec 29, 2021 12:02 pm
galawdawg wrote: Sat Aug 07, 2021 10:04 am
Tubes wrote: Sat Aug 07, 2021 9:54 am Question: is it easy to convert a tIRA (full or partial) to a Roth IRA at Schwab? Can this be done online.
Yes, you can do a Roth IRA conversion online at Schwab: https://client.schwab.com/Accounts/Roth ... rsion.aspx?

Very simple and straightforward.
Question: Does Schwab allow zero balance tIRA's to remain open until the funding and conversion in the next year?
Yes. BUT keep in mind the dates and holding periods in the terms of any bonus offer you take advantage of, there are usually strict date ranges during which balances are counted for bonus purposes
nalor511
Posts: 5059
Joined: Mon Jul 27, 2015 1:00 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by nalor511 »

jjunk wrote: Wed Dec 29, 2021 10:49 am I asked this in the Fidelity vs. Schwab thread but didnt get a response. Hoping maybe to get one here.

How does Schwab handle the reporting of events like dividends and capital gains? I know Fidelity updates their tax information almost immediately but since moving to Merrill, they only do it monthly (which I hate). Curious how Schwab handles those events? To be more explicit, if I sold MSFT today for a $5K gain, when would that show in their tax information? Similarly, if I received a dividend from a bond fund in taxable, when does that show up in tax information?
If you want to do tax planning:
-keep close eye on your "investment income" tab on the main page, which covers things like dividend/cg distributions
-keep close eye on your "positions" tab on the main page, which covers cost basis and gains/loss on positions.

If you sell for a gain, you know immediately if you've watched your positions tab, because you know your cost basis, and you know the sale price, so the gain/loss is pretty obvious. BUT you can click the expansion menu thing on the right hand side of any position, and click "lot details" to get even more granular, which will give you anything you could possibly want to know. Now, if you're asking whether schwab ties all that info up with a bow for you the split second after you make a sale? I have no idea. But I can tell you that Fidelity's "sale info" in your "tax information" page can be wrong for up to 48hrs after a sale, even though it's available "instantly", often it is not correct until at least one overnight cycle has passed. Fidelity is great. Schwab is great. I slightly prefer Fidelity, but don't make the decision based on "instant" sale info, because it's often wrong until it gets updated.
User avatar
jjunk
Posts: 957
Joined: Fri Aug 24, 2012 9:52 pm
Location: Seattle

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by jjunk »

nalor511 wrote: Wed Dec 29, 2021 12:14 pm
jjunk wrote: Wed Dec 29, 2021 10:49 am I asked this in the Fidelity vs. Schwab thread but didnt get a response. Hoping maybe to get one here.

How does Schwab handle the reporting of events like dividends and capital gains? I know Fidelity updates their tax information almost immediately but since moving to Merrill, they only do it monthly (which I hate). Curious how Schwab handles those events? To be more explicit, if I sold MSFT today for a $5K gain, when would that show in their tax information? Similarly, if I received a dividend from a bond fund in taxable, when does that show up in tax information?
If you want to do tax planning:
-keep close eye on your "investment income" tab on the main page, which covers things like dividend/cg distributions
-keep close eye on your "positions" tab on the main page, which covers cost basis and gains/loss on positions.

If you sell for a gain, you know immediately if you've watched your positions tab, because you know your cost basis, and you know the sale price, so the gain/loss is pretty obvious. BUT you can click the expansion menu thing on the right hand side of any position, and click "lot details" to get even more granular, which will give you anything you could possibly want to know. Now, if you're asking whether schwab ties all that info up with a bow for you the split second after you make a sale? I have no idea. But I can tell you that Fidelity's "sale info" in your "tax information" page can be wrong for up to 48hrs after a sale, even though it's available "instantly", often it is not correct until at least one overnight cycle has passed. Fidelity is great. Schwab is great. I slightly prefer Fidelity, but don't make the decision based on "instant" sale info, because it's often wrong until it gets updated.
Thanks, this is very helpful and I really appreciate it. I'm fine with waiting a couple of days, I just don't want to wait until the end of the month like I'm going to have to with Merrill. I already keep a spreadsheet but like to have something "official" to double check my math when I do things. Appreciate the response.
User avatar
VictorStarr
Posts: 746
Joined: Sat Jan 04, 2020 9:13 pm
Location: Washington

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by VictorStarr »

TL;DR: It is possible to get a waiver to trade three mutual fund families at Schwab.

Details: In April 2021, I transferred funds from Vanguard to Schwab, requested and was granted a waiver for buying Vanguard mutual funds. In December I bought additional shares of Vanguard mutual fund and to my surprise I was charged a $75 transaction fee. A called Schwab and asked to reimburse that fee and make this change permanent. A few days later I received an email that Schwab will waive transaction fees for three mutual fund families. Here is the email:

“””
Elevated Mutual Fund Transaction Fee Waiver Notification


In appreciation of your loyalty to Schwab, I'm pleased to confirm that effective Dec 16, 2021, for your Schwab account(s) listed below, Schwab will waive its mutual fund transaction fee on any Dodge & Cox, Fidelity, and Vanguard investor share class mutual fund shares purchased through your Schwab account(s).

Please note that any sales or redemption fees assessed by the fund company will still apply, and all mutual funds are subject to management fees and expenses. Also be aware that there is a $25 broker-assisted trade fee for any trade executed through a representative.

This waiver is made at Schwab's discretion, and Schwab reserves the right to revoke this waiver at any time without advance notice. Please refer to the Charles Schwab Pricing Guide for Individual Investors and subsequent amendments for pricing on all other investment products. Schwab's own decision to waive our transaction fee as a broker-dealer has no impact on other costs or fees relating to these mutual funds and this waiver is not an endorsement or recommendation of these mutual funds.
Thank you for investing with Schwab. We appreciate the opportunity to serve you. If you have any questions or need assistance, please call us at 1-800-435-4000.

“””

Email mentioned “Vanguard investor share class mutual fund shares” but it seems waiver is also applied to Admiral shares.
User avatar
VictorStarr
Posts: 746
Joined: Sat Jan 04, 2020 9:13 pm
Location: Washington

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by VictorStarr »

VictorStarr wrote: Wed Dec 29, 2021 7:58 pm TL;DR: It is possible to get a waiver to trade three mutual fund families at Schwab.
I have more than $1M with Schwab.
User avatar
jeffyscott
Posts: 13486
Joined: Tue Feb 27, 2007 8:12 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by jeffyscott »

VictorStarr wrote: Wed Dec 29, 2021 7:58 pm TL;DR: It is possible to get a waiver to trade three mutual fund families at Schwab.

“””
Elevated Mutual Fund Transaction Fee Waiver Notification


In appreciation of your loyalty to Schwab, I'm pleased to confirm that effective Dec 16, 2021, for your Schwab account(s) listed below, Schwab will waive its mutual fund transaction fee on any Dodge & Cox, Fidelity, and Vanguard investor share class mutual fund shares purchased through your Schwab account(s).
I think that those who have the Vanguard waiver may already have this for Dodge & Cox and Fidelity, as well. When I asked for a waiver last fall, I was told by my Schwab rep. that "...Dodge and Cox was to be added to the program...". He had not heard of it as being a waiver for single fund family of your choice, he said he knew some had gotten a waiver for Vanguard funds and that Schwab was planning to extend this to D & C funds in the near future.

We got the waiver for Vanguard right away and then D & C also had it by about the time frame my rep. had given me. There was no mention of Fidelity, but I just checked by going through the steps for a fund transaction with a Fidelity fund and it showed no transaction fee on the page to review the order before submitting.

I had gotten an email informing me of the waiver for Vanguard, but nothing more when they added the additional fund families.
User avatar
VictorStarr
Posts: 746
Joined: Sat Jan 04, 2020 9:13 pm
Location: Washington

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by VictorStarr »

jeffyscott wrote: Wed Dec 29, 2021 8:39 pm
VictorStarr wrote: Wed Dec 29, 2021 7:58 pm TL;DR: It is possible to get a waiver to trade three mutual fund families at Schwab.

“””
Elevated Mutual Fund Transaction Fee Waiver Notification


In appreciation of your loyalty to Schwab, I'm pleased to confirm that effective Dec 16, 2021, for your Schwab account(s) listed below, Schwab will waive its mutual fund transaction fee on any Dodge & Cox, Fidelity, and Vanguard investor share class mutual fund shares purchased through your Schwab account(s).
I think that those who have the Vanguard waiver may already have this for Dodge & Cox and Fidelity, as well. When I asked for a waiver last fall, I was told by my Schwab rep. that "...Dodge and Cox was to be added to the program...". He had not heard of it as being a waiver for single fund family of your choice, he said he knew some had gotten a waiver for Vanguard funds and that Schwab was planning to extend this to D & C funds in the near future.

We got the waiver for Vanguard right away and then D & C also had it by about the time frame my rep. had given me. There was no mention of Fidelity, but I just checked by going through the steps for a fund transaction with a Fidelity fund and it showed no transaction fee on the page to review the order before submitting.

I had gotten an email informing me of the waiver for Vanguard, but nothing more when they added the additional fund families.
Good to know that many people can enjoy waiver for Vanguard, Dodge & Cox and Fidelity mutual funds.

I split my investments between between Fidelity and Schwab. I mostly use ETFs but it is good to have an option of mutual fund family that I can buy at both brokerages without fees. Schwab is really putting an effort to win customers.
User avatar
jeffyscott
Posts: 13486
Joined: Tue Feb 27, 2007 8:12 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by jeffyscott »

VictorStarr wrote: Wed Dec 29, 2021 9:29 pm
jeffyscott wrote: Wed Dec 29, 2021 8:39 pm
VictorStarr wrote: Wed Dec 29, 2021 7:58 pm TL;DR: It is possible to get a waiver to trade three mutual fund families at Schwab.

“””
Elevated Mutual Fund Transaction Fee Waiver Notification


In appreciation of your loyalty to Schwab, I'm pleased to confirm that effective Dec 16, 2021, for your Schwab account(s) listed below, Schwab will waive its mutual fund transaction fee on any Dodge & Cox, Fidelity, and Vanguard investor share class mutual fund shares purchased through your Schwab account(s).
I think that those who have the Vanguard waiver may already have this for Dodge & Cox and Fidelity, as well. When I asked for a waiver last fall, I was told by my Schwab rep. that "...Dodge and Cox was to be added to the program...". He had not heard of it as being a waiver for single fund family of your choice, he said he knew some had gotten a waiver for Vanguard funds and that Schwab was planning to extend this to D & C funds in the near future.

We got the waiver for Vanguard right away and then D & C also had it by about the time frame my rep. had given me. There was no mention of Fidelity, but I just checked by going through the steps for a fund transaction with a Fidelity fund and it showed no transaction fee on the page to review the order before submitting.

I had gotten an email informing me of the waiver for Vanguard, but nothing more when they added the additional fund families.
Good to know that many people can enjoy waiver for Vanguard, Dodge & Cox and Fidelity mutual funds.

I split my investments between between Fidelity and Schwab. I mostly use ETFs but it is good to have an option of mutual fund family that I can buy at both brokerages without fees. Schwab is really putting an effort to win customers.
We have certainly been happy with what Schwab has been willing to do for us. They have made it very likely that we will eventually consolidate most of our assets there.

It's odd that they have chosen to give out waivers for these three. These are the same three that they have raised the transaction fee to $75 on, because they will not pay Schwab for shareholder servicing expenses. It seems that increase went into effect at about the same time that they expanded the waiver from Vanguard to all three of them.
https://soundmindinvesting.com/articles ... lity-funds
Gaston
Posts: 1220
Joined: Wed Aug 21, 2013 7:12 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by Gaston »

galawdawg wrote: Thu Aug 05, 2021 8:53 am In the following post, which will be updated as new information is available or as frequent questions are fielded, I have endeavored to compile information that will be useful to others who may be considering starting their investing and/or banking adventure at Schwab or who are considering moving to Schwab from another brokerage or bank.
Well done, galawdawg.
“My opinions are just that - opinions.”
User avatar
Topic Author
galawdawg
Posts: 5231
Joined: Thu Dec 14, 2017 11:59 am
Location: Georgia

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by galawdawg »

VictorStarr wrote: Wed Dec 29, 2021 7:58 pm TL;DR: It is possible to get a waiver to trade three mutual fund families at Schwab.
Updated consolidated information in second post of thread with this information, thanks!
User avatar
VictorStarr
Posts: 746
Joined: Sat Jan 04, 2020 9:13 pm
Location: Washington

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by VictorStarr »

Galawdawg thank you for maintaining this FAQ, it is very useful for many people.
I have a few additions and nitpicks:

- Security:
Schwab supports software authenticator for 2FA (Symantec VIP) without fall back to SMS. Symantec VIP is also used by Fidelity and E*Trade.

- Speed of transfers between Schwab brokerage and bank accounts:
Transfers between brokerage and checking are instantaneous during business hours (but I could not find bank official business hours on Schwab site).

- I want to confirm that Schwab raised the transaction fee to buy Vanguard mutual funds. On 12/03/2021 I was charged a commission of $74.95 to buy VWAHX - VANGUARD HIGH-YIELD TAX-EXEMPT fund. It make sense to to state new fee in the FAQ.

- misspelling in "Does Schwab have banking features?" :
"online bill bay" -> "online bill pay"
User avatar
mangorunner
Posts: 157
Joined: Mon Jun 21, 2021 6:24 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by mangorunner »

I self-performed a Traditional-to-Roth IRA Conversion yesterday. I transferred/moved/converted all assets as in-kind shares (no cash). A couple interesting things to note:

• I converted only in-kind mutual funds (no stocks, no ETFs, no cash). Schwab used the prior day's closing prices for the valuation - which was wonderful. In other words, I performed the transfer midday on December 30 and Schwab used the mutual funds' December 29 closing prices for the valuation. That took all of the guesswork out of what the total conversion value might be. It was also great to know for going forward, as I can plan to do future, partial conversions the day after the market or an investment takes a slide and get more bang for my buck.

Schwab allowed me to convert partial/fractional shares. To get the exact dollar-value conversion amount that I desired, I converted 402.5 shares. Schwab allowed the fractional shares. Cool!
drzzzzz
Posts: 1047
Joined: Sat Sep 22, 2012 9:56 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by drzzzzz »

Hi
New to schwab with an IRA - does schwab automatically calculate what your RMD should be for the year and if so, where do u find this information on their website. thanks
User avatar
jeffyscott
Posts: 13486
Joined: Tue Feb 27, 2007 8:12 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by jeffyscott »

You may find your answer by putting "RMD" in the "search this topic" box, near the top of the page.

There were some results, but I didn't look at the details to see if there was actually an answer...
User avatar
Topic Author
galawdawg
Posts: 5231
Joined: Thu Dec 14, 2017 11:59 am
Location: Georgia

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by galawdawg »

drzzzzz wrote: Sat Jan 01, 2022 8:58 am Hi
New to schwab with an IRA - does schwab automatically calculate what your RMD should be for the year and if so, where do u find this information on their website. thanks
Yes. Log in to your account, click on Balances and select your IRA account. To the right of the displayed graph is a box that reads "2022 Remaining RMD to be Taken" and a box that reads "2022 IRA Distributions". You can also scroll down below the chart to IRA Details and it will show your current year RMD and Remaining RMD to be taken.
trueblueky
Posts: 2365
Joined: Tue May 27, 2014 3:50 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by trueblueky »

Lastrun wrote: Wed Dec 29, 2021 7:27 am Wait, I thought this was the Schwab information thread not the Vanguard rant thread. But it's your thread.

But a question on Schwab's RMD service. It looks to me like they do indeed have an automatic RMD service, but you have to liquidate as they will only pull cash. Is this correct? And how does it compare to what Fidelity or Vanguard would do?

https://www.schwab.com/resource/ira-req ... n-rmd-form
You should be able to transfer from your Schwab IRA account to your Schwab brokerage account.

I'm not to RMD yet, but annually transfer from Schwab tIRA to Roth IRA from my laptop to convert.
drzzzzz
Posts: 1047
Joined: Sat Sep 22, 2012 9:56 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by drzzzzz »

galawdawg wrote: Sat Jan 01, 2022 10:43 am
drzzzzz wrote: Sat Jan 01, 2022 8:58 am Hi
New to schwab with an IRA - does schwab automatically calculate what your RMD should be for the year and if so, where do u find this information on their website. thanks
Yes. Log in to your account, click on Balances and select your IRA account. To the right of the displayed graph is a box that reads "2022 Remaining RMD to be Taken" and a box that reads "2022 IRA Distributions". You can also scroll down below the chart to IRA Details and it will show your current year RMD and Remaining RMD to be taken.
Thank you, I don't know how I missed that - kept checking all the tabs on top, but never scrolled down far enough on that screen
User avatar
theac
Posts: 802
Joined: Fri Dec 12, 2008 5:00 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by theac »

About a week ago I noticed at the top of my Schwab Homepage they no longer have that very useful toolbar that was just above the listed accounts.

It had all the important buttons on it like History, Research, Trade, Transfers, etc.

Now it seems to be gone and the only way to navigate is thru the button at the upper left hand corner which is a drop-down menu but is not as convenient as the other toolbar that stretched across the screen.

Anyone else have that toolbar disappear on them?

Or did I maybe accidentally change something in my homepage settings and can set it to come back on?

May have to call them and ask about it but thought I'd check here first.
"We keep you alive to serve this ship. Row well...and live." Ben Hur...and The Taxman! hahaha (a George Harrison song)
trueblueky
Posts: 2365
Joined: Tue May 27, 2014 3:50 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by trueblueky »

theac wrote: Sun Jan 02, 2022 9:27 pm About a week ago I noticed at the top of my Schwab Homepage they no longer have that very useful toolbar that was just above the listed accounts.

It had all the important buttons on it like History, Research, Trade, Transfers, etc.

Now it seems to be gone and the only way to navigate is thru the button at the upper left hand corner which is a drop-down menu but is not as convenient as the other toolbar that stretched across the screen.

Anyone else have that toolbar disappear on them?

Or did I maybe accidentally change something in my homepage settings and can set it to come back on?

May have to call them and ask about it but thought I'd check here first.
Mine didn't change. Saw it yesterday.
User avatar
theac
Posts: 802
Joined: Fri Dec 12, 2008 5:00 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by theac »

trueblueky wrote: Sun Jan 02, 2022 9:32 pm
theac wrote: Sun Jan 02, 2022 9:27 pm About a week ago I noticed at the top of my Schwab Homepage they no longer have that very useful toolbar that was just above the listed accounts.

It had all the important buttons on it like History, Research, Trade, Transfers, etc.

Now it seems to be gone and the only way to navigate is thru the button at the upper left hand corner which is a drop-down menu but is not as convenient as the other toolbar that stretched across the screen.

Anyone else have that toolbar disappear on them?

Or did I maybe accidentally change something in my homepage settings and can set it to come back on?

May have to call them and ask about it but thought I'd check here first.
Mine didn't change. Saw it yesterday.
OK good, thanks. I must have done something that got rid of it, will look into it.
"We keep you alive to serve this ship. Row well...and live." Ben Hur...and The Taxman! hahaha (a George Harrison song)
User avatar
VictorStarr
Posts: 746
Joined: Sat Jan 04, 2020 9:13 pm
Location: Washington

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by VictorStarr »

theac wrote: Sun Jan 02, 2022 9:27 pm About a week ago I noticed at the top of my Schwab Homepage they no longer have that very useful toolbar that was just above the listed accounts.

It had all the important buttons on it like History, Research, Trade, Transfers, etc.

Now it seems to be gone and the only way to navigate is thru the button at the upper left hand corner which is a drop-down menu but is not as convenient as the other toolbar that stretched across the screen.

Anyone else have that toolbar disappear on them?

Or did I maybe accidentally change something in my homepage settings and can set it to come back on?

May have to call them and ask about it but thought I'd check here first.
My best guess that you are in A/B testing bucket with new interface.
I do not see a way to change a homepage settings to get rid of top menu bar.
User avatar
mangorunner
Posts: 157
Joined: Mon Jun 21, 2021 6:24 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by mangorunner »

theac wrote: Sun Jan 02, 2022 9:27 pm About a week ago I noticed at the top of my Schwab Homepage they no longer have that very useful toolbar that was just above the listed accounts.

It had all the important buttons on it like History, Research, Trade, Transfers, etc.

Now it seems to be gone and the only way to navigate is thru the button at the upper left hand corner which is a drop-down menu but is not as convenient as the other toolbar that stretched across the screen.
Could you be on the mobile version (with the upper-left-hand corner button)? Here is a link to the desktop version of the homepage. Login and then see if this link fixes it: https://client.schwab.com/clientapps/accounts/summary/
User avatar
theac
Posts: 802
Joined: Fri Dec 12, 2008 5:00 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by theac »

mangorunner wrote: Sun Jan 02, 2022 10:33 pm
Could you be on the mobile version (with the upper-left-hand corner button)? Here is a link to the desktop version of the homepage. Login and then see if this link fixes it: https://client.schwab.com/clientapps/accounts/summary/
Nope, that didn't change anything but thanks.
"We keep you alive to serve this ship. Row well...and live." Ben Hur...and The Taxman! hahaha (a George Harrison song)
BoxOfUpticks
Posts: 98
Joined: Sun Nov 24, 2013 11:19 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by BoxOfUpticks »

theac wrote: Sun Jan 02, 2022 9:27 pm About a week ago I noticed at the top of my Schwab Homepage they no longer have that very useful toolbar that was just above the listed accounts.

It had all the important buttons on it like History, Research, Trade, Transfers, etc
Try making your browser window wider.

IIRC, I had something similar happen when I reduced the size of my browser. They probably designed it to take a large portion of the screen, because, well, everyone does now. It seems to be a trend.
There are 10 kinds of people in the world: those that understand binary, and those that don't.
User avatar
theac
Posts: 802
Joined: Fri Dec 12, 2008 5:00 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by theac »

BoxOfUpticks wrote: Mon Jan 03, 2022 3:21 am Try making your browser window wider.

IIRC, I had something similar happen when I reduced the size of my browser. They probably designed it to take a large portion of the screen, because, well, everyone does now. It seems to be a trend.
Yep, that did it! Thank you! :happy
"We keep you alive to serve this ship. Row well...and live." Ben Hur...and The Taxman! hahaha (a George Harrison song)
User avatar
jeffyscott
Posts: 13486
Joined: Tue Feb 27, 2007 8:12 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by jeffyscott »

theac wrote: Mon Jan 03, 2022 4:39 am
BoxOfUpticks wrote: Mon Jan 03, 2022 3:21 am Try making your browser window wider.

IIRC, I had something similar happen when I reduced the size of my browser. They probably designed it to take a large portion of the screen, because, well, everyone does now. It seems to be a trend.
Yep, that did it! Thank you! :happy
Yes, it automatically changes to what is intended to be a mobile version, if you reduce the width of the window. This is not new, it's been the same for as long as I can remember. Many websites do this now, rather than having a completely separate mobile site.
chipperd
Posts: 1674
Joined: Sat Sep 24, 2011 5:58 am
Location: here and now

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by chipperd »

Just one data point as I posted in another thread:

I was informed by a Schwab rep this a.m. that there is no level of funds that would allow for a waiver of the $74.95 transaction fee to purchase a Vanguard fund at Schwab. The rep reported this was due to the fact that this fee is charged by and goes straight to Vanguard, so Schwab wasn't in control of the decision to waive or not waive the fee.

Did the waiver concept at Schwab get dropped at the start of the new year? Did Vanguard change their relationship with and how they sell their funds at Schwab? Or was the rep I interacted with incorrect?
"A portfolio is like a bar of soap, the more it's handled, the less there is." Dr. William Bernstein
User avatar
Topic Author
galawdawg
Posts: 5231
Joined: Thu Dec 14, 2017 11:59 am
Location: Georgia

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by galawdawg »

chipperd wrote: Mon Jan 03, 2022 6:08 am Just one data point as I posted in another thread:

I was informed by a Schwab rep this a.m. that there is no level of funds that would allow for a waiver of the $74.95 transaction fee to purchase a Vanguard fund at Schwab. The rep reported this was due to the fact that this fee is charged by and goes straight to Vanguard, so Schwab wasn't in control of the decision to waive or not waive the fee.

Did the waiver concept at Schwab get dropped at the start of the new year? Did Vanguard change their relationship with and how they sell their funds at Schwab? Or was the rep I interacted with incorrect?
I assume you contacted a customer service rep rather than one of their financial consultants since none of their offices are yet open, is that correct?

As I noted in the second post in the thread, the best way to request a mutual fund fee waiver is to contact a Schwab financial consultant and discuss that with them. It is my understanding that Schwab still grants those waivers. Fee waivers do require approval from management, the request is submitted to them by a financial consultant.

I expect a call/email from my financial consultant sometime today, I'll ask them if they have any additional information on mutual fund fee waiver criteria and pass it along.
chipperd
Posts: 1674
Joined: Sat Sep 24, 2011 5:58 am
Location: here and now

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by chipperd »

galawdawg wrote: Mon Jan 03, 2022 6:20 am
chipperd wrote: Mon Jan 03, 2022 6:08 am Just one data point as I posted in another thread:

I was informed by a Schwab rep this a.m. that there is no level of funds that would allow for a waiver of the $74.95 transaction fee to purchase a Vanguard fund at Schwab. The rep reported this was due to the fact that this fee is charged by and goes straight to Vanguard, so Schwab wasn't in control of the decision to waive or not waive the fee.

Did the waiver concept at Schwab get dropped at the start of the new year? Did Vanguard change their relationship with and how they sell their funds at Schwab? Or was the rep I interacted with incorrect?
I assume you contacted a customer service rep rather than one of their financial consultants since none of their offices are yet open, is that correct?

As I noted in the second post in the thread, the best way to request a mutual fund fee waiver is to contact a Schwab financial consultant and discuss that with them. It is my understanding that Schwab still grants those waivers. Fee waivers do require approval from management, the request is submitted to them by a financial consultant.

I expect a call/email from my financial consultant sometime today, I'll ask them if they have any additional information on mutual fund fee waiver criteria and pass it along.
I interacted on live chat at about 6:45am eastern with an individual who described himself as a licensed broker.
Thanks for asking on my/our behalf.
I do wish there was a bit of consistency between employees about policy, however I do understand that inconsistency, if it exists in this case, isn't unusual.
"A portfolio is like a bar of soap, the more it's handled, the less there is." Dr. William Bernstein
BoxOfUpticks
Posts: 98
Joined: Sun Nov 24, 2013 11:19 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by BoxOfUpticks »

chipperd wrote: Mon Jan 03, 2022 6:25 am
galawdawg wrote: Mon Jan 03, 2022 6:20 am
chipperd wrote: Mon Jan 03, 2022 6:08 am Just one data point as I posted in another thread:

I was informed by a Schwab rep this a.m. that there is no level of funds that would allow for a waiver of the $74.95 transaction fee to purchase a Vanguard fund at Schwab. The rep reported this was due to the fact that this fee is charged by and goes straight to Vanguard, so Schwab wasn't in control of the decision to waive or not waive the fee.

Did the waiver concept at Schwab get dropped at the start of the new year? Did Vanguard change their relationship with and how they sell their funds at Schwab? Or was the rep I interacted with incorrect?
I assume you contacted a customer service rep rather than one of their financial consultants since none of their offices are yet open, is that correct?

As I noted in the second post in the thread, the best way to request a mutual fund fee waiver is to contact a Schwab financial consultant and discuss that with them. It is my understanding that Schwab still grants those waivers. Fee waivers do require approval from management, the request is submitted to them by a financial consultant.

I expect a call/email from my financial consultant sometime today, I'll ask them if they have any additional information on mutual fund fee waiver criteria and pass it along.
I interacted on live chat at about 6:45am eastern with an individual who described himself as a licensed broker.
Thanks for asking on my/our behalf.
I do wish there was a bit of consistency between employees about policy, however I do understand that inconsistency, if it exists in this case, isn't unusual.
I agree with galawdawg -- front line reps can't do everything, even my local financial consultant couldn't do everything. I /think/ that included the mutual fund fee waiver, but i'm not 100% sure; the incentive levels we got were definitely above the local rep's authorization.

We recently (Nov-Dec 2021) moved all holdings we had at vanguard to schwab. During that adventure, i learned a bit about the compartmentalization within Schwab. I ended up working with three key people during the transition, and spoke with a few other random reps when i called a general phone number:

- Managed Products - this was my initial contact via the general 'i need help opening a new account' phone line. During this call, i asked about incentives, and we discussed the mutual fund fee waiver, *after* i disclosed the total amount in play. This very knowledgeable gentleman referred me to a sales/trading rep. He also mentioned that the sales/trading rep has much broader discretion with incentives.

- Sales/Trading - This rep made things happen - both the mutual fund fee waiver and the incentives. He nudged the local office to speed things along. This rep also offered to put me in touch with their training dept for help with their 'platform' either the plain website or the frequent trading platform. I have not yet pursued this, since i found what i needed on the website (so far).

- Local Office/CFP/Consultant - This rep was really nice, handled all the transfer paperwork, including some stickiness with account titling. Per the sales/trading rep's recap, the local office handles most advice/paperwork and most hand holding. The local office is the contact for PAL and/or mortgage discounts, but he pretty much just showed us where to find it on the website.

During this transition i did call the general number a few times for minor clarifications, etc. Those reps seemed to have very low, if any, authority to discuss incentives or mutual fund fee waivers. This makes sense, since they don't want to be giving out incentives & waiving fees all willy-nilly.

Overall, i must say that i'm impressed with the knowledge and competence of the vast majority of Schwab's reps i spoke with. Being able to contact a human within a minute or two of calling is refreshing. I'm not implying Vanguard's reps are incompetent, but rather Schawb's reps tended to /know/ the answers right away. Vanguard reps tended to put me on hold while they look it up or ask someone else (on top of a lengthy hold time just to talk to a human at vg). In contrast, Fidelity reps gave me incorrect info on multiple occasions, resulting in my loss of faith in Fidelity customer service.


While i'm in this thread, many thanks, galawdawg for starting this thread! Schwab is most definitely a step up from both Vanguard and Fidelity! Although, i do miss OFX direct connect to download transactions.
There are 10 kinds of people in the world: those that understand binary, and those that don't.
User avatar
calmaniac
Posts: 1325
Joined: Fri Jan 30, 2015 2:32 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by calmaniac »

Lastrun wrote: Wed Dec 29, 2021 12:02 pm
Question: Does Schwab allow zero balance tIRA's to remain open until the funding and conversion in the next year?
For backdoor conversions, my local Schwab rep advised me to keep less than $0.50 in my tIRA at year's end. Since account value is rounded to nearest dollar for IRS reporting it comes out to zero anyhow. Seems to be working with my Schwab account remaining open.
"Pretired", working 20 h/wk. AA 75/25: 30% TSM, 19% value (VFVA/AVUV), 18% Int'l LC, 8% emerging, 25% GFund/VBTLX. Military pension ≈60% of expenses. Pension+SS@age 70 ≈100% of expenses.
User avatar
calmaniac
Posts: 1325
Joined: Fri Jan 30, 2015 2:32 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by calmaniac »

BoxOfUpticks wrote: Mon Jan 03, 2022 3:21 am
theac wrote: Sun Jan 02, 2022 9:27 pm About a week ago I noticed at the top of my Schwab Homepage they no longer have that very useful toolbar that was just above the listed accounts.

It had all the important buttons on it like History, Research, Trade, Transfers, etc
Try making your browser window wider.

IIRC, I had something similar happen when I reduced the size of my browser. They probably designed it to take a large portion of the screen, because, well, everyone does now. It seems to be a trend.
Best Bogleheads hack of 2022....thus far!
Very much appreciated
"Pretired", working 20 h/wk. AA 75/25: 30% TSM, 19% value (VFVA/AVUV), 18% Int'l LC, 8% emerging, 25% GFund/VBTLX. Military pension ≈60% of expenses. Pension+SS@age 70 ≈100% of expenses.
User avatar
jeffyscott
Posts: 13486
Joined: Tue Feb 27, 2007 8:12 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by jeffyscott »

BoxOfUpticks wrote: Mon Jan 03, 2022 7:16 amI agree with galawdawg -- front line reps can't do everything, even my local financial consultant couldn't do everything. I /think/ that included the mutual fund fee waiver, but i'm not 100% sure; the incentive levels we got were definitely above the local rep's authorization.
FWIW, my (recent) experience was that the local rep (who is in an independent office) had to get approval, he said it would take at least a few days. I am not sure if this meant approval from the franchise owner or Schwab, I would assume either Schwab or both. My impression was that this is discretionary. Maybe there are guidelines, but I don't think there is a set policy?

The mutual fund fee waiver is certainly not something that is going to be offered over chat. I think that a local office has to request it from Schwab for a client. From a few posts the willingness to do it varies, I think one person posted that their local office would not consider it, unless one had at least $1 million with them. IIRC, another posted about getting it with $100K.

We might wish it was a set, consistent policy, such as Vanguard has with their fee waiver on a certain number of transactions with a certain level of assets, but it's not. OTOH, I think Vanguard requires not just $1 million for this, but the $1 million has to be in Vanguard funds.
User avatar
Topic Author
galawdawg
Posts: 5231
Joined: Thu Dec 14, 2017 11:59 am
Location: Georgia

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by galawdawg »

jeffyscott wrote: Mon Jan 03, 2022 8:18 am We might wish it was a set, consistent policy, such as Vanguard has with their fee waiver on a certain number of transactions with a certain level of assets, but it's not. OTOH, I think Vanguard requires not just $1 million for this, but the $1 million has to be in Vanguard funds.
Vanguard offers a list of NTF mutual funds (just as Schwab does) on which there are no transaction fees, regardless of total portfolio size. For funds with a transaction fee, if you hold $1 million or more in Vanguard ETFs or mutual funds, they will waive the fee for the first twenty-five (25) trades. If you hold $5 million or more in Vanguard ETFs or mutual funds, they will waive the transaction fee for the first one-hundred (100) trades.
chipperd
Posts: 1674
Joined: Sat Sep 24, 2011 5:58 am
Location: here and now

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by chipperd »

galawdawg wrote: Mon Jan 03, 2022 8:31 am
jeffyscott wrote: Mon Jan 03, 2022 8:18 am We might wish it was a set, consistent policy, such as Vanguard has with their fee waiver on a certain number of transactions with a certain level of assets, but it's not. OTOH, I think Vanguard requires not just $1 million for this, but the $1 million has to be in Vanguard funds.
Vanguard offers a list of NTF mutual funds (just as Schwab does) on which there are no transaction fees, regardless of total portfolio size. For funds with a transaction fee, if you hold $1 million or more in Vanguard ETFs or mutual funds, they will waive the fee for the first twenty-five (25) trades. If you hold $5 million or more in Vanguard ETFs or mutual funds, they will waive the transaction fee for the first one-hundred (100) trades.
That sounds very enticing.
I look forward to what your consultant says about fee waivers/incentives to move funds over to Schwab.
Thanks again for looking into that for us. :sharebeer
BTW I responded to your inquiry on the other thread.
"A portfolio is like a bar of soap, the more it's handled, the less there is." Dr. William Bernstein
tj
Posts: 9368
Joined: Wed Dec 23, 2009 11:10 pm

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by tj »

chipperd wrote: Mon Jan 03, 2022 6:25 am
galawdawg wrote: Mon Jan 03, 2022 6:20 am
chipperd wrote: Mon Jan 03, 2022 6:08 am Just one data point as I posted in another thread:

I was informed by a Schwab rep this a.m. that there is no level of funds that would allow for a waiver of the $74.95 transaction fee to purchase a Vanguard fund at Schwab. The rep reported this was due to the fact that this fee is charged by and goes straight to Vanguard, so Schwab wasn't in control of the decision to waive or not waive the fee.

Did the waiver concept at Schwab get dropped at the start of the new year? Did Vanguard change their relationship with and how they sell their funds at Schwab? Or was the rep I interacted with incorrect?
I assume you contacted a customer service rep rather than one of their financial consultants since none of their offices are yet open, is that correct?

As I noted in the second post in the thread, the best way to request a mutual fund fee waiver is to contact a Schwab financial consultant and discuss that with them. It is my understanding that Schwab still grants those waivers. Fee waivers do require approval from management, the request is submitted to them by a financial consultant.

I expect a call/email from my financial consultant sometime today, I'll ask them if they have any additional information on mutual fund fee waiver criteria and pass it along.
I interacted on live chat at about 6:45am eastern with an individual who described himself as a licensed broker.
Thanks for asking on my/our behalf.
I do wish there was a bit of consistency between employees about policy, however I do understand that inconsistency, if it exists in this case, isn't unusual.
The $75 definitely does not go to Vanguard. lol.
chipperd
Posts: 1674
Joined: Sat Sep 24, 2011 5:58 am
Location: here and now

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by chipperd »

galawdawg wrote: Mon Jan 03, 2022 6:20 am
chipperd wrote: Mon Jan 03, 2022 6:08 am Just one data point as I posted in another thread:

I was informed by a Schwab rep this a.m. that there is no level of funds that would allow for a waiver of the $74.95 transaction fee to purchase a Vanguard fund at Schwab. The rep reported this was due to the fact that this fee is charged by and goes straight to Vanguard, so Schwab wasn't in control of the decision to waive or not waive the fee.

Did the waiver concept at Schwab get dropped at the start of the new year? Did Vanguard change their relationship with and how they sell their funds at Schwab? Or was the rep I interacted with incorrect?
I assume you contacted a customer service rep rather than one of their financial consultants since none of their offices are yet open, is that correct?

As I noted in the second post in the thread, the best way to request a mutual fund fee waiver is to contact a Schwab financial consultant and discuss that with them. It is my understanding that Schwab still grants those waivers. Fee waivers do require approval from management, the request is submitted to them by a financial consultant.

I expect a call/email from my financial consultant sometime today, I'll ask them if they have any additional information on mutual fund fee waiver criteria and pass it along.
Any update from that phone call yesterday you can share with us regarding fee waivers/incentives to switch?
Thanks
Chipperd
"A portfolio is like a bar of soap, the more it's handled, the less there is." Dr. William Bernstein
User avatar
Topic Author
galawdawg
Posts: 5231
Joined: Thu Dec 14, 2017 11:59 am
Location: Georgia

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by galawdawg »

chipperd wrote: Tue Jan 04, 2022 6:47 am Any update from that phone call yesterday you can share with us regarding fee waivers/incentives to switch?
Thanks
Chipperd
Yes, my financial consultant advised that Schwab is still doing mutual fund fee waivers, they still have their own new client bonus offer (https://www.schwab.com/refer-a-friend) and will consider a match of a competitor's bonus offer. He and his team have done several of those for new clients just in the past week.

Your best resource to explore what is available to you if you move to Schwab would be one of their local financial consultants. Let us know if you have any questions about how to locate and select a local financial consultant or anything else regarding Schwab.

FYI, jeffyscott noted in another thread that Schwab's webpage for VWENX notes under availability "Institutional Customers Only". I don't know if that is a recent change or if it simply does not reflect that Schwab will allow existing holders of VWENX to hold, buy and sell that fund. As of the date this thread was created, existing shareholders of VWENX were permitted go hold, buy and sell, notwithstanding the availability note on the fund page on Schwab's website. Other BH's have experienced such to be the case as well according to posts on that subject.

Again, a local financial consultant can advise you on VWENX if that is a fund you currently hold.

Hope that helps!
chipperd
Posts: 1674
Joined: Sat Sep 24, 2011 5:58 am
Location: here and now

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by chipperd »

galawdawg wrote: Tue Jan 04, 2022 8:10 am
chipperd wrote: Tue Jan 04, 2022 6:47 am Any update from that phone call yesterday you can share with us regarding fee waivers/incentives to switch?
Thanks
Chipperd
Yes, my financial consultant advised that Schwab is still doing mutual fund fee waivers, they still have their own new client bonus offer (https://www.schwab.com/refer-a-friend) and will consider a match of a competitor's bonus offer. He and his team have done several of those for new clients just in the past week.

Your best resource to explore what is available to you if you move to Schwab would be one of their local financial consultants. Let us know if you have any questions about how to locate and select a local financial consultant or anything else regarding Schwab.

FYI, jeffyscott noted in another thread that Schwab's webpage for VWENX notes under availability "Institutional Customers Only". I don't know if that is a recent change or if it simply does not reflect that Schwab will allow existing holders of VWENX to hold, buy and sell that fund. As of the date this thread was created, existing shareholders of VWENX were permitted go hold, buy and sell, notwithstanding the availability note on the fund page on Schwab's website. Other BH's have experienced such to be the case as well according to posts on that subject.

Again, a local financial consultant can advise you on VWENX if that is a fund you currently hold.

Hope that helps!
Yes thanks so much.
Curious, when you say "Let us know...", does that mean you work for Schwab?
"A portfolio is like a bar of soap, the more it's handled, the less there is." Dr. William Bernstein
User avatar
Topic Author
galawdawg
Posts: 5231
Joined: Thu Dec 14, 2017 11:59 am
Location: Georgia

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by galawdawg »

chipperd wrote: Tue Jan 04, 2022 10:11 am Yes thanks so much.
Curious, when you say "Let us know...", does that mean you work for Schwab?
No, I'm just a satisfied customer. Otherwise, I have no connection to Schwab.

When I said "Let us know...", I'm referring to those of us in the thread who are current Schwab customers (some for much longer than myself), who are already familiar with Schwab's services, features, website and can often answer questions and provide tips and suggestions to new Schwab customers.
User avatar
jeffyscott
Posts: 13486
Joined: Tue Feb 27, 2007 8:12 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by jeffyscott »

galawdawg wrote: Tue Jan 04, 2022 10:41 am
chipperd wrote: Tue Jan 04, 2022 10:11 am Yes thanks so much.
Curious, when you say "Let us know...", does that mean you work for Schwab?
No, I'm just a satisfied customer.
I think you have become a bit more than that, Bogleheads ambassador to Schwab, perhaps? :)
RubyTuesday
Posts: 2241
Joined: Fri Oct 19, 2012 11:24 am

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Post by RubyTuesday »

Quick update on my transfer of assets to Schwab.

I detailed my initial transfer and bonus earlier in the thread.

The initial transfer was the first step in choosing a firm to consolidate all of our assets. I’ve been using Fidelity for HSA and Vanguard for everything else. Schwab and Fidelity were the consolidation candidates, but Fidelity haven’t been as generous with transfer bonuses to my knowledge.

After seeing that eTrade was offering $3500 for $1M+ transfer again, I considered transferring the remaining assets held at Vanguard to ETrade to collect the bonus and try them out as candidate.

I’ve been very happy with Schwab’s customer service, so I reached out to the financial advisor who had helped arrange the original bonus and margin rate to see if they would again match to keep me from trying out ETrade.

He has agreed. So assuming no surprises, we should be getting another $3500 in bonuses.

That will make a total of $8,800 in total bonuses in less than 6 months.

THANKS Galawdawg

RT
“Doing nothing is better than being busy doing nothing.” – Lao Tzu
Post Reply