Where is your brokerage account?

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g3d
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Where is your brokerage account?

Post by g3d » Wed Jul 23, 2014 2:07 pm

New college graduate just beginning to have some income to invest. I've owned mutual funds with Vanguard for a few months and now I want to purchase ETFs through Vanguard too.

Do you open a brokerage account with Vanguard and transfer your funds from your bank to Vanguard?
Or do you have direct deposits set up into Vanguard (assuming that is possible)?
Or do you purchase Vanguard funds through another brokerage account at the same place you bank? I bank with Chase and was thinking about opening a brokerage account there.

Just trying to figure out if there is a consensus for what is most convenient/the quickest way to get your paycheck into investments.

letsgobobby
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Re: Where is your brokerage account?

Post by letsgobobby » Wed Jul 23, 2014 2:18 pm

There are a number of good options but I don't think Chase is one of them. What makes you think of Chase?

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Re: Where is your brokerage account?

Post by Lafder » Wed Jul 23, 2014 2:27 pm

I use Vanguard. It is linked to my bank account so it is easy to make transfers/transactions on the Vanguard end of things as a purchase from the linked bank accounts. And they let me have several bank accounts on file to chose from. Paychecks are deposited in my bank account as usual. It is just a few clicks to make a purchase once you have an account.

I stick to buying mutual stock or bond funds. The only individual stocks I own are from a purchase many years ago we have held onto.

What is the advantage of ETFs over non ETFs? What do you mean by ETFs ? ((I know it means exchange traded funds, but I am not clear on which funds are or are not ETFs since most seem exchange traded))

I also noticed you are saying brokerage account, which to me implies individual stocks. Which I would avoid unless you are considering it "play money" that you can afford to lose.

(We also have Fidelity funds so that would be my other top choice)

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Kevin M
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Re: Where is your brokerage account?

Post by Kevin M » Wed Jul 23, 2014 2:46 pm

g3d wrote:I've owned mutual funds with Vanguard for a few months and now I want to purchase ETFs through Vanguard too.

Why?

g3d wrote:Just trying to figure out if there is a consensus for what is most convenient/the quickest way to get your paycheck into investments.

First, do you have access to a 401k or 403b, and if so, does your employer offer a matching contribution?

Next, have you maxed out your Roth IRA contribution for the year?

For taxable, direct deposit to a bank account that is linked to your Vanguard account. You can make same-day purchases of mutual funds from a linked bank account.

I personally don't think you need to complicate things with ETFs at this point (or perhaps ever). However, if you have a well thought-out reason for doing so, you can open a brokerage account at Vanguard and buy/sell Vanguard ETFs commission free. You might have to pay a small annual fee depending on the size of your account. There are other alternatives, but I think keeping things simple has some merit.

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Kevin M
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Re: Where is your brokerage account?

Post by Kevin M » Wed Jul 23, 2014 2:53 pm

I didn't actually answer the question asked in your post title. I have brokerage accounts at Vanguard, Fidelity and Wells Fargo, and have used other brokers in the past.

If I had to pick one I'd pick Vanguard. Not because they're the greatest broker (they're not), but because they have everything I want in terms of mutual funds, and I can add ETFs to the mix if I want (I do, but I still don't think you need to).

The only reason for the brokerage at Wells Fargo is that I get 100 free trades per year, but I don't think you can get that anymore.

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jh-1391
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Re: Where is your brokerage account?

Post by jh-1391 » Wed Jul 23, 2014 2:55 pm

Have your brokerage account where you can buy the funds you want for no fees.

So if you want to buy Vanguard funds and ETFs, open it with Vanguard. Same advice for Fidelity, Schwab, etc. With that said, Vanguard's brokerage user interface is pretty bad, but if you're just going to be doing simple mutual fund/ETF trading it shouldn't be a huge deal.

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RyeWhiskey
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Re: Where is your brokerage account?

Post by RyeWhiskey » Wed Jul 23, 2014 3:25 pm

g3d wrote:New college graduate just beginning to have some income to invest. I've owned mutual funds with Vanguard for a few months and now I want to purchase ETFs through Vanguard too.

Do you open a brokerage account with Vanguard and transfer your funds from your bank to Vanguard?
Or do you have direct deposits set up into Vanguard (assuming that is possible)?
Or do you purchase Vanguard funds through another brokerage account at the same place you bank? I bank with Chase and was thinking about opening a brokerage account there.

Just trying to figure out if there is a consensus for what is most convenient/the quickest way to get your paycheck into investments.


I recommend using Vanguard for all your investments, be they mutual funds or ETFs, in a brokerage or otherwise. So long as you are solely using Vanguard products, their costs are low and their customer service is excellent. Also, don't forget to open a Roth IRA if you qualify before you invest in a taxable brokerage account.

I don't use direct deposit so I transfer money periodically from my bank to Vanguard via ACH. It's simple and takes a couple days. You can direct deposit into brokerage accounts if you want but don't forget to maximize tax-advantaged space first.

Other brokerages which are decent:
Schwab: cheap index ETFs with no trade commissions, fast and good interface. Very good no-fee checking account.
Fidelity: cheap index mutual funds and a decent selection of no trade commission ETFs. Excellent cash management account and terrific credit cards.
TD Ameritrade: overall probably the best beginner brokerage. Low fees in some ways, not in others, and a good cash management account as well.

Still, I'd stick to banking with a local brick-and-mortal credit union and use Vanguard for my investments. Keep it simple. :beer
Last edited by RyeWhiskey on Wed Jul 23, 2014 3:29 pm, edited 1 time in total.
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Re: Where is your brokerage account?

Post by Trader Joe » Wed Jul 23, 2014 3:28 pm

Vanguard

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Re: Where is your brokerage account?

Post by ralph124cf » Wed Jul 23, 2014 3:32 pm

Schwab does a decent job.

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dad2000
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Re: Where is your brokerage account?

Post by dad2000 » Wed Jul 23, 2014 3:42 pm

Vanguard & Schwab.

The Schwab interface is far superior.

And although this is slowly changing, the separate brokerage accounts within Vanguard are annoying. My Vanguard web account has more sub accounts (15) than funds owned because of all the permutations of types of accounts (mutual-fund, brokerage)*(taxable, IRA, Roth, Rollover)*(myself, spouse).

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Re: Where is your brokerage account?

Post by surfstar » Wed Jul 23, 2014 3:44 pm

I have a brokerage at Vanguard for my ETFs (which will eventually be Admiral MFs) in a Roth IRA.

g3d
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Re: Where is your brokerage account?

Post by g3d » Wed Jul 23, 2014 3:48 pm

Sticking with Vanguard appears to be the most popular answer. Thanks for all the input!

letsgobobby wrote:There are a number of good options but I don't think Chase is one of them. What makes you think of Chase?


Chase because that's my current checking/savings bank (low interest rate, I know) and a coworker raved about the convenience of having an all-in-one site to make transactions.

Lafder wrote:It is just a few clicks to make a purchase once you have an account.


Really? It seemed as though there was a two day delay through Vanguard. Maybe this is a one time thing for me.

Lafder wrote:I also noticed you are saying brokerage account, which to me implies individual stocks.


Apparently, you have to open a brokerage account to invest in ETFs. There are a couple of Vanguard ETFs that really appeal to me.

Kevin M wrote:g3d wrote:
Just trying to figure out if there is a consensus for what is most convenient/the quickest way to get your paycheck into investments.

First, do you have access to a 401k or 403b, and if so, does your employer offer a matching contribution?


Not a relevant question, but yes. I have a 401k and am taking advantage of employer match but not maxing as of now because I have student loans to pay off.

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Re: Where is your brokerage account?

Post by nisiprius » Wed Jul 23, 2014 3:49 pm

It's my opinion that the most convenient option is for you is probably to open a mutual fund account at Vanguard--not a brokerage account, you don't need that, just a mutual fund account--and arrange for "automatic purchase" out of your regular bank account. That is, you can tell Vanguard to pull $100 out of your bank account every month, and purchase mutual fund shares with it.

Let me clarify something.

You can own mutual funds without having a brokerage account. Most mutual fund companies will let you open an account directly with the mutual fund company itself. The problem with this is that you can only buy and sell funds within that fund company's fund family, BUT usually there are NO FEES for purchases, sales, or exchanges.

You can also have an account at a brokerage, such as Wellstrade, at which you can buy and sell individual stocks, bonds, mutual funds, ETFs, etc. etc. The fee structure is complicated and they always have deals going. Often it costs in the ballpark of $5-$10 for a stock or ETF transaction, but they may give you 100 free trades a year. They may have a select list of 50-100 ETFs that with no commission. Often it costs in the ballpark of $50-$100 dollars for a mutual fund purchase or sale, but they may have a long list of "no-transaction-fee" funds.

To make things hopelessly confusing, many brokerages have their own mutual funds and many mutual fund companies offer brokerage services. When they do, they brokerage often has favorable deals if you buy the same company's mutual fund.

I have used the following brokerages, alphabetical order: Fidelity, Schwab, Vanguard Brokerage Services. I thought they all were fine, but my requirements were not demanding.
g3d wrote:New college graduate just beginning to have some income to invest. I've owned mutual funds with Vanguard for a few months and now I want to purchase ETFs through Vanguard too.

Do you open a brokerage account with Vanguard and transfer your funds from your bank to Vanguard?
Yes. You would usually set up an electronic link, but of course you can also mail checks to Vanguard.
Or do you have direct deposits set up into Vanguard (assuming that is possible)?
In the places I've worked, you could only have a portion of your paycheck direct deposited to a checking or savings account. However, it is possible to have Vanguard automatically pull any desired dollar amount monthly (or biweekly or weekly) from a checking account.
Or do you purchase Vanguard funds through another brokerage account at the same place you bank? I bank with Chase and was thinking about opening a brokerage account there.
This is probably not a good idea because although most full-service brokerages will be glad to sell you Vanguard fund, they often charge a transaction fee, in the ballpark of $50, for each purchase.
Just trying to figure out if there is a consensus for what is most convenient/the quickest way to get your paycheck into investments.
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Re: Where is your brokerage account?

Post by livesoft » Wed Jul 23, 2014 4:09 pm

I have a few brokerage accounts: WellsTrade, TDAmeritrade, Fidelity, and Vanguard.

WellsTrade is the best and cheapest (FREE!). I used it today to buy some VWO at the low price of the day. When you can buy an ETF at the low of the day that's probably the best you can do if you want shares that day. Figure that one out.

TDAmeritrade is a close 2nd because they are also free the way I use them. They offer no-commission Vanguard ETFs and real-time tools.

Fidelity has some decent portfolio analysis tools and retirement income planning tools, but I would prefer to use the previous brokers.

Vanguard is the worst because they cannot seem to do proper real-time bookkeeping. They are a toy broker. But they are the best at mutual funds. However, WellsTrade offers Vanguard ETFs and mutual funds to me with no commission with real-time bookkeeping and other things.

It does seem that the OP has not given a convincing argument of why they need a brokerage account at the present time though.
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Re: Where is your brokerage account?

Post by LateStarter1975 » Wed Jul 23, 2014 4:54 pm

surfstar wrote:I have a brokerage at Vanguard for my ETFs (which will eventually be Admiral MFs) in a Roth IRA.


Sorry to hijack this thread, but wanted to add small cap value ETF (VBR) to my Roth IRA with Vanguard and have been wondering if this makes sense, or should I just use the small cap value mutual fund instead to simplify things. Since I can only buy full shares, that means I will not be able to use up all the $3,000 in the VMMXX of the brokerage to buy the VBR. How do you circumvent this problem?
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Re: Where is your brokerage account?

Post by pjstack » Wed Jul 23, 2014 5:00 pm

I don't have a brokerage account anywhere; I own Vanguard mutual funds directly from Vanguard.

The response (above) from Nisiprius tells it all in a nutshell. (Pay close attention to posts by Nisiprius as he gives good info in good detail.)
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Re: Where is your brokerage account?

Post by Kevin M » Wed Jul 23, 2014 5:10 pm

g3d wrote:Really? It seemed as though there was a two day delay through Vanguard. Maybe this is a one time thing for me.

With a linked bank account, if you enter your mutual fund purchase order while the market is open, your purchase will be completed that day. There used to be a delay, but Vanguard implemented the same-day-purchase from linked bank account a few years ago.

g3d wrote:Apparently, you have to open a brokerage account to invest in ETFs.

True.

g3d wrote:There are a couple of Vanguard ETFs that really appeal to me.

Which ones, and again, why ETF vs. mutual fund?

g3d wrote:
Kevin M wrote:First, do you have access to a 401k or 403b, and if so, does your employer offer a matching contribution?

Not a relevant question, but yes. I have a 401k and am taking advantage of employer match but not maxing as of now because I have student loans to pay off.

Well, not relevant if you want to focus on a tree instead of the forest. What I was wondering is why you are investing in a taxable account in preference to maximizing your use of tax-advantaged accounts. But maybe I assumed incorrectly that it's a taxable account you're talking about. It could be a Roth IRA at Vanguard. Is it?

Now we also find out you have student loans, so I'd also ask what the interest rates on the loans are. Paying down a loan gives you the equivalent of a guaranteed rate of return equal to the loan rate (might need to factor in any tax deduction and look at after-tax return). With estimated (risky) real returns for stocks in the single digits, paying down the loans could well be the better investment. With a loan, you are essentially investing on margin, but perhaps paying a higher interest rate than on a margin loan.

You might want to consider posting your overall situation in the "Asking Portfolio Questions" format (see link in signature line below). You might get feedback that is much more valuable than on what brokerage to use to buy ETFs, but keep posting regardless!

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Re: Where is your brokerage account?

Post by Kevin M » Wed Jul 23, 2014 5:26 pm

LateStarter1975 wrote:Sorry to hijack this thread, but wanted to add small cap value ETF (VBR) to my Roth IRA with Vanguard and have been wondering if this makes sense, or should I just use the small cap value mutual fund instead to simplify things.

The ER of the ETF is lower than the ER of investor shares, but with the ETF you also have a bid/ask spread, discount/premium to NAV, and the issues related to using market orders vs. limit orders, etc. Even with investor shares, the cost is so low that I think just sticking with the mutual fund is preferable, unless you enjoy the additional complexities of the ETF (I kind of enjoy placing limit orders, but this can be a distraction and might not be conducive to long-term success).

LateStarter1975 wrote:Since I can only buy full shares, that means I will not be able to use up all the $3,000 in the VMMXX of the brokerage to buy the VBR.

Another one of the complexities of the ETFs.
LateStarter1975 wrote:How do you circumvent this problem?

By using the mutual fund.

If you're worried about dropping below the initial purchase minimum for the money market fund, it's not an issue. If you're worried about $100 or less sitting in cash earning nothing, there are more important things to worry about (or just use the mutual fund).

I was also going to say that you could buy a share of an ETF with a lower share price, but it looks like they're all kind of high. I see short-term TIPS for about $50 and developed markets (VEA) for $42.44. But if you're looking for simplicity ...

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Re: Where is your brokerage account?

Post by g3d » Wed Jul 23, 2014 6:10 pm

livesoft wrote:It does seem that the OP has not given a convincing argument of why they need a brokerage account at the present time though.


See http://www.bogleheads.org/wiki/ETFs_vs_mutual_funds. ETFs are a solid place for me to make short-term investments that beat my student loan rates (~4%) and allow me to save for a house.

pjstack wrote:The response (above) from Nisiprius tells it all in a nutshell. (Pay close attention to posts by Nisiprius as he gives good info in good detail.)


Indeed. Thanks to Nisiprius.

Kevin M wrote: instead of the forest. What I was wondering is why you are investing in a taxable account in preference to maximizing your use of tax-advantaged accounts. But maybe I assumed incorrectly that it's a taxable account you're talking about. It could be a Roth IRA at Vanguard. Is it?


It actually is a taxable account. But that is because I have subsidized student loans that currently are not accumulating interest and will begin charging a low interest rate at the end of the calendar year. No point to pay off the loans before they are even accumulating interest = invest in taxable account.

Kevin M wrote:I'd also ask what the interest rates on the loans are. Paying down a loan gives you the equivalent of a guaranteed rate of return equal to the loan rate


Around ~4%. And I agree. If it were around 7%, I'd happily pay down the loan first and take the guaranteed return. At around 4%, it's probably worth investing and making minimum payments.

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Re: Where is your brokerage account?

Post by livesoft » Wed Jul 23, 2014 6:23 pm

g3d wrote:
livesoft wrote:It does seem that the OP has not given a convincing argument of why they need a brokerage account at the present time though.


See http://www.bogleheads.org/wiki/ETFs_vs_mutual_funds. ETFs are a solid place for me to make short-term investments that beat my student loan rates (~4%) and allow me to save for a house.

I always wanted to write: "You're preaching to the choir", so I will. You're preaching to the choir when it comes to ETFs.

Despite that, the link you provided (I wonder where it came from?) is not in any way, shape or form a convincing argument.
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Re: Where is your brokerage account?

Post by Kevin M » Wed Jul 23, 2014 7:36 pm

g3d wrote:ETFs are a solid place for me to make short-term investments that beat my student loan rates (~4%) and allow me to save for a house.<snip>

This is kind of scary. Where did you get the idea that any ETF could provide reliable, short-term returns in the 4% ballpark? A 4% guaranteed return would be gold these days--if you could find it (other than by paying down a 4% loan).

g3d wrote:It actually is a taxable account. But that is because I have subsidized student loans that currently are not accumulating interest and will begin charging a low interest rate at the end of the calendar year. No point to pay off the loans before they are even accumulating interest = invest in taxable account.

I agree that there's no reason to pay down a 0% loan, but I would be accumulating as much as possible in a safe account until the interest kicks in. You can earn 0.95% in an FDIC-insured savings account, and you could earn as much as 3% on up to $20,000 in a reward checking account. Since your interest kicks in at the end of the year, you're only looking at about a five-month investment horizon, and you're not going to beat these rates on an investment that's safe in that time period.

g3d wrote:If it were around 7%, I'd happily pay down the loan first and take the guaranteed return. At around 4%, it's probably worth investing and making minimum payments.

It would be worth spending some time getting calibrated on expected rates of return these days. Current yield on a good 5-year CD is 2.3%. Many folks were scrambling like crazy to get into a PenFed 5-year CD earning 3% last December. A 30-year Treasury bond only yields about 3.3%. Many respected experts are forecasting expected returns in the single digits even for stocks, and that's with lots of risk. At current rates, I wouldn't borrow at 4% to invest in anything; I'd just take the guaranteed 4%.

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Re: Where is your brokerage account?

Post by LongerPrimer » Wed Jul 23, 2014 8:05 pm

TDAmeritrade, they bought out my local low cost broker. Never bothered to change. Son has Vanguard and Sharebuilder.
I am interviewing ML for one of our accounts because I am spending way too much effort in trading. -I am also looking for ideas, specialized services, and handholding.

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Re: Where is your brokerage account?

Post by AllenSmith » Wed Jul 23, 2014 8:36 pm

Schwab. it's ok. ~$9/trade but free ATMs across country no matter what the local fee is (reimbursed)

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Re: Where is your brokerage account?

Post by ruralavalon » Wed Jul 23, 2014 8:46 pm

Our brokerage account is with Vanguard.

g3d wrote:New college graduate just beginning to have some income to invest. I've owned mutual funds with Vanguard for a few months and now I want to purchase ETFs through Vanguard too.

If Whether you want a taxable account or an IRA, I suggest an account at Vanguard. If you want to use Vanguard funds or ETFs there is no good reason to have your account(s) elsewhere, in my opinion.

I suggest using regular mutual funds over ETFs. If you really want brokerage services Vanguard can provide that.
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Re: Where is your brokerage account?

Post by sandburg » Wed Jul 23, 2014 8:51 pm

Fidelity.

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Re: Where is your brokerage account?

Post by Tozmo » Wed Jul 23, 2014 9:35 pm

I use scottrade. In a addition to individual stocks I have had b.b. (before bogle), it does have the physical branches. If I want to gamble and guess, it is cheap and has decent research options.

That being said, once I need to start expanding significant sums beyond my 403, I will likely open a vanguard account also.

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Re: Where is your brokerage account?

Post by madbrain » Wed Jul 23, 2014 9:39 pm

Fidelity, brokerage window in my 401k. That's it.

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Re: Where is your brokerage account?

Post by Billyboy » Thu Jul 24, 2014 12:24 am

I have my accounts at Vanguard, both Mutual Fund and Brokerage accts. I haven't purchased any etf's or individual stocks through Vanguard. I hold several individual stocks that I transferred to Vanguard from my past employer's 401k administrator. All Vanguard does in reference to the brokerage holdings is take care of whatever maintenance is required, such as reinvest dividends, sell when I put in a sell order, etc. all of which, I presume are computer generated.

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Re: Where is your brokerage account?

Post by placeholder » Thu Jul 24, 2014 12:35 am

I am using Scottrade and TD Ameritrade and Sharebuilder for taxable brokerage with Merrill Edge for Roth (I like to gather transfer bonuses).

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Re: Where is your brokerage account?

Post by jlgrandam » Thu Jul 24, 2014 8:43 am

I buy Vanguard ETF's commission free at TD Ameritrade.

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Re: Where is your brokerage account?

Post by sschullo » Thu Jul 24, 2014 9:21 am

Used Schwab, Scottrade, and Fidelity in my individual stock buying and losing days.

Been using VG for ten years and never look back.
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Re: Where is your brokerage account?

Post by Longtimelurker » Thu Jul 24, 2014 9:29 am

LongerPrimer wrote:TDAmeritrade, they bought out my local low cost broker. Never bothered to change. Son has Vanguard and Sharebuilder.
I am interviewing ML for one of our accounts because I am spending way too much effort in trading. -I am also looking for ideas, specialized services, and handholding.


May as well paint a bulls eye on your back. Could you signal any more loudly to all the non-fidutiary vultures that you are "fresh meat?"
Stay the course. If you can't resist greed, and fear is proven to be 2x as strong, you are doomed as an investor.

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Re: Where is your brokerage account?

Post by Longtimelurker » Thu Jul 24, 2014 9:30 am

I use Vanguard. Own:

VT (Vanguard Total World)
VSS (Vanguard Intl Small Cap)
VSIAX (Vanguard small value admiral)
VWIUX (Vanguard Intermediate term tax exempt admiral)

Simple, effective diversification.
Stay the course. If you can't resist greed, and fear is proven to be 2x as strong, you are doomed as an investor.

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Re: Where is your brokerage account?

Post by Toons » Thu Jul 24, 2014 9:31 am

Vanguard :happy
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Re: Where is your brokerage account?

Post by spectec » Thu Jul 24, 2014 9:49 am

I have an account at eTrade, but recently opened a brokerage account with Vanguard. I've had my Roth accounts at Vanguard holding VFIIX and VTSAX mutual funds. So it was just a matter of adding the VMMXX Money Market sweep fund for clearing transactions, selling the eTrade shares, then moving the same holdings over to Vanguard. In the process, I also sold the VTSAX and bought VTI in its place, for no reason other than simplifying the way the screen looks.

Did the exact same thing with my wife's Roth as well. I like the consolidation, so will probably only use the Vanguard brokerage accounts in the future and close the eTrade account. No sense in keeping up with multiple brokerage accounts.
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Re: Where is your brokerage account?

Post by MathWizard » Thu Jul 24, 2014 10:03 am

Are you looking to invest in individual stocks?

I just use my 403b and my employer sends money to it each pay period. Nothing simpler than that.

I set up an automatic monthly pull from a bank account with TIAA-CREF for a mutual fund taxable account years ago, before
ROTHs were available, but now I just send a check once a year to Vanguard for my ROTH IRA for the previous year
when I do my taxes.

Islander
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Re: Where is your brokerage account?

Post by Islander » Fri Jul 25, 2014 9:58 am

Merrill Edge. 30 free trades per mo., very good customer service. This is a taxable account used mainly to purchase
ETF's and occasionally individual stocks. Retirement account with Vanguard.

trueblueky
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Re: Where is your brokerage account?

Post by trueblueky » Fri Jul 25, 2014 10:11 am

letsgobobby wrote:There are a number of good options but I don't think Chase is one of them.

+1

Dulocracy
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Re: Where is your brokerage account?

Post by Dulocracy » Fri Jul 25, 2014 3:12 pm

I hold mutual funds only. I use Vanguard and Fidelity. (I would use only Vanguard if it were not for the 2% cash back on all purchases AmEx I have through Fidelity. It is 2%, so long as the money goes into a Fidelity account.)
I'm not a financial professional. Post is info only & not legal advice. No attorney-client relationship exists with reader. Scrutinize my ideas as if you spoke with a guy at a bar. I may be wrong.

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roymeo
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Re: Where is your brokerage account?

Post by roymeo » Fri Jul 25, 2014 3:17 pm

"Where is your brokerage account?"

"I don't know...is it missing?"

(Don't have one, no need.)
The sewer system is a form of welfare state. | -- "Libra", Don DeLillo

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TheGreyingDuke
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Re: Where is your brokerage account?

Post by TheGreyingDuke » Fri Jul 25, 2014 8:48 pm

surfstar wrote:I have a brokerage at Vanguard for my ETFs (which will eventually be Admiral MFs) in a Roth IRA.


You should keep in mind that while going from MF to ETFs is not a taxable evnt, going from ETF to mutual fund (Admiral or otherwise) IS. :(

Can I convert my conventional Vanguard mutual fund shares to Vanguard ETF Shares?
Yes, most funds that offer ETF Shares will allow you to convert from conventional shares of the same fund to ETF Shares. (Four of our bond ETFs—Total Bond Market, Short-Term Bond, Intermediate-Term Bond, and Long-Term Bond—don't allow for conversions.)

Conversions are allowed from both Investor and Admiral™ Shares and are tax-free if you own your mutual fund and ETF Shares through Vanguard.

Keep in mind that you can't convert ETF Shares back to conventional shares. If you decide in the future to sell your Vanguard ETF Shares and repurchase conventional shares, that transaction could be taxable.


EDIT: AHH, I see you were talking about o Roth, my haste made waste :oops:
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Alan S.
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Re: Where is your brokerage account?

Post by Alan S. » Fri Jul 25, 2014 10:42 pm

Schwab

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