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Since Vanguard doesn't allow you to open coverdells anymore, any suggestions on a low-cost place to open one? I'd like the ability to buy Vanguard mutual funds and not pay any purchase or account maintenance fees if possible. I previously had a schwab account and was ok with that but closed it a while ago. Other suggestions?
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nydad wrote:I'd like the ability to buy Vanguard mutual funds and not pay any purchase or account maintenance fees if possible.
If you don't mind online statements, I believe TD Ameritrade won't charge any maintenance fees. Their commission-free ETF list includes a bunch of Vanguard options, so if those meet your needs then you can avoid trading fees as well.https://www.tdameritrade.com/account-types/education.pagehttps://www.tdameritrade.com/pricing/brokerage-fees.pagehttp://research.tdameritrade.com/grid/public/etfs/commissionfree/commissionfree.asp
Beware, though. You apparently needed to explicitly enroll in their commission-free program. Things may have changed slightly, but here are some instructions from Jonathan at My Money Blog.
I recently opened a TDA account for my new model portfolio and in my haste to make trades, I forgot to enroll in the commission-free ETF program. I wish it was part of the application process, but you have to open, fund, navigate to “Home” > “My Profile”, and then enroll manually.
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Scottrade does them. I opened mine there.
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