Where to open coverdell

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Where to open coverdell

Postby nydad » Thu Feb 14, 2013 10:23 am

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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Re: Where to open coverdell

Postby mhc » Thu Feb 14, 2013 10:27 am


This thread has some suggestions.

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Re: Where to open coverdell

Postby BornInCA » Thu Feb 14, 2013 12:32 pm

I also posted a thread on Vanguard Coverdell here:

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Re: Where to open coverdell

Postby JustMe » Thu Feb 14, 2013 2:04 pm

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.


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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Re: Where to open coverdell

Postby dandan14 » Thu Feb 14, 2013 10:20 pm

Scottrade does them. I opened mine there.

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