nisiprius wrote:In this thread, please concentrate on posting details of actual recent recent personal experience buying, converting, or transferring Admiral shares to a non-Vanguard brokerage. Make any relevant comments, of course, but precede the specifics of actual experience with three asterisks to make them stand out.
Very sensitive information indeed.nisiprius wrote:A PM from a forum member who does not want to post asks if the story may depend on whether the fund is index fund or a non-index fund.
He indicates that about a year ago he was able to purchase Admiral shares of a non-index bond fund at Schwab. Recently, however, he was unable to purchase Admiral shares of an stock index fund, even though he was ordering over $100,000; the transaction software showed clearly that the fund was not available.
At another brokerage he does not name, a rep told him Admiral shares were not available, but he did not ask whether this applied across the board or only to index funds."
For example:LazyNihilist wrote:I have very little knowledge about various brokerage firms. I have an account with TDAmeritrade and like their service. My question to the above posters is, why would someone want to move the Admiral funds away from Vanguard? What service could other brokerages offer that Vanguard doesn't?
Probably not, but it depends on your specific situation.I am asking this because, I plan to sell my ETF's at TDAmeritrade and move them to Vanguard and put them in Admiral/Investor Mutual Funds.
Please let me know if you think this is a bad idea, because I was of the opinion Vanguard is the best.
LazyNihilist wrote:But other brokerage firms offer some superior quality of service and tools overall to buy these Mutual Funds more than Vanguard itself does.
nisiprius wrote:Another PM from someone who prefers not to post.
Afraid to post under a known nom-de-plume? Just PM nisiprius and use NAPS!
nisiprius wrote:I get the sense that the blockage comes from Vanguard, that admiral shares are proprietary.
AndroAsc wrote:Woah hold on a minute, are you saying that Vanguard Admiral Shares mutual funds can only be bought from Vanguard directly??? I thought Wellstrade used to carry all products including Vanguard Admiral MF?
Default User BR wrote:AndroAsc wrote:Woah hold on a minute, are you saying that Vanguard Admiral Shares mutual funds can only be bought from Vanguard directly??? I thought Wellstrade used to carry all products including Vanguard Admiral MF?
They've never had Admiral INDEX funds since I've been there. We've discussed this before.
lazyday wrote:LazyNihilist wrote:But other brokerage firms offer some superior quality of service and tools overall to buy these Mutual Funds more than Vanguard itself does.
If you only need Admiral class and Investor class funds, and no ETFs, stock shares, bonds, etc, then Vanguard does very well and has great customer service I believe.
There is still Tax lot ID reporting inferiority compared to most other places, but it seems that Vanguard is adding features here.
Also as natureexplorer mentioned, there is a one day delay if buying by ACH. Can be annoying, but usually not a big deal. If you need to rebalance into a volatile asset, such as REITs in 2009 when they could move nearly 10% in a day, you could just ACH into a money market fund ahead of time, and then transfer into the desired fund the next day.
If those two aren't significant issues for someone, and the whole account is just traditional mutual funds (Admiral and Investor class), then Vanguard should be a very good choice I think.
btenny wrote:I hold Admiral shares of several different funds at Scottrade and three at Wells Fargo. I bought the Admiral funds at Scottrade back when. I did all those purchases on line quickly and easily with no issue and no phone calls by selling Investor shares and buying Admiral shares. I have added to those funds since then with no issue via on line trades at Scottrade. Each mutual fund sell or buy at Scottrade has a small $17 per trade.
I also previously bought two Admiral share funds last year via on line trades at no cost at Wells Fargo in my brokerage account. I have added to those funds since that purchase with no issue via on line trades. But recently I tried to buy some Admiral shares at Wells Fargo in Intermediate Muni Fund. As I discussed in another post that purchase was a chore that took three or four phone calls over three days to Vanguard and Wells and some negotiating on a small purchase fee of $35 that was eventually waved. Apparently Wells is trying to get away from all those free trade offers. So now that the purchase has settled I own Vanguard Admiral shares in that fund at Wells brokerages.
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