Moving from Vanguard to Fidelity

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cowdogman
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Moving from Vanguard to Fidelity

Post by cowdogman » Fri Aug 10, 2018 2:46 pm

After years of barely adequate (and sometimes poor) customer support performance from Vanguard I'm thinking of making the switch to Fidelity.

If I make the switch I will want to move all my investments. But I have very large gains in one fund (VTSAX).

After doing some research it appears that I can convert my VTSAX shares to ETFs with no gain being triggered. I can then transfer the ETFs to Fidelity, also with no gain being triggered.

Does that sound right?

Thanks.

Brad

SlowMovingInvestor
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Re: Moving from Vanguard to Fidelity

Post by SlowMovingInvestor » Fri Aug 10, 2018 2:51 pm

cowdogman wrote:
Fri Aug 10, 2018 2:46 pm
After years of barely adequate (and sometimes poor) customer support performance from Vanguard I'm thinking of making the switch to Fidelity.

If I make the switch I will want to move all my investments. But I have very large gains in one fund (VTSAX).

After doing some research it appears that I can convert my VTSAX shares to ETFs with no gain being triggered. I can then transfer the ETFs to Fidelity, also with no gain being triggered.

Does that sound right?

Thanks.

Brad
Yes, absolutely right. But note that Fidelity will NOT accept Vanguard Admiral Funds at all. Other firms will accept them, even if they are TF funds there. So you have to convert to ETFs, or if not possible, liquidate to move to Fidelity.

mhalley
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Re: Moving from Vanguard to Fidelity

Post by mhalley » Fri Aug 10, 2018 2:52 pm

That sounds correct. From vanguards website
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.
If you have a brokerage account at Vanguard, there's no charge to convert conventional shares to ETF Shares. If you have questions, call us at 866-499-8473..

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Earl Lemongrab
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Re: Moving from Vanguard to Fidelity

Post by Earl Lemongrab » Fri Aug 10, 2018 3:16 pm

Fidelity doesn't have an advertised bonus at this time, but you can always ask.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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Re: Moving from Vanguard to Fidelity

Post by MikeG62 » Fri Aug 10, 2018 3:21 pm

Earl Lemongrab wrote:
Fri Aug 10, 2018 3:16 pm
Fidelity doesn't have an advertised bonus at this time, but you can always ask.
Great point. Definitely ask - I’d be surprised if they won’t offer you one. Tell them you are considering other brokers during that discussion (to motivate them).

I got them to give me $2,500 a few months ago from rolling over my 401K to a Rollover IRA at Fidelity (and my 401K was already with Fidelity).
Real Knowledge Comes Only From Experience

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cowdogman
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Re: Moving from Vanguard to Fidelity

Post by cowdogman » Fri Aug 10, 2018 4:34 pm

Interesting. Didn't know that was a possibility. Thanks!

I assume the bonus is taxable income, but better taxable income than no income at all!

aristotelian
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Re: Moving from Vanguard to Fidelity

Post by aristotelian » Fri Aug 10, 2018 4:56 pm

Not sure about Fidelity, but I did a transfer to Schwab last year. As long as I do not buy, I am able to sell old mutual funds at no charge. If Fidelity will do the same, it is not necessary to convert to ETF.

Elysium
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Re: Moving from Vanguard to Fidelity

Post by Elysium » Fri Aug 10, 2018 5:04 pm

cowdogman wrote:
Fri Aug 10, 2018 2:46 pm
After years of barely adequate (and sometimes poor) customer support performance from Vanguard I'm thinking of making the switch to Fidelity.
What kind of customer support are people lacking at Vanguard, especially passive investors who barely need to do anything. I've been with Vanguard for nearly 20 years and I barely had to call customer support 20 times in all these years. Most of what I have to is done via online, and when I needed some support they were able to do it. Perhaps, people aren't as passive as they seem to be :?:

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Re: Moving from Vanguard to Fidelity

Post by triceratop » Fri Aug 10, 2018 5:05 pm

Be sure to double check your cost basis after you convert your MF to ETF shares. In fact I recommend you save a copy of your cost basis information before beginning the conversion. VBS has a horrible track record on doing this properly.
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Re: Moving from Vanguard to Fidelity

Post by DippityDoo » Fri Aug 10, 2018 5:45 pm

triceratop wrote:
Fri Aug 10, 2018 5:05 pm
Be sure to double check your cost basis after you convert your MF to ETF shares. In fact I recommend you save a copy of your cost basis information before beginning the conversion. VBS has a horrible track record on doing this properly.
Please take triceratop's advice! And make sure you have copies/screenshots of all your info before initiating the transfer. I transferred some ETFs from Vg to Fido and it took a while for Vg to report the cost basis. Also, if you do end up at Fidelity, please know that you can auto-reinvest dividends from some Vg ETFs without a trading fee. If you call Fidelity customer support, they can tell you if your ETFs qualify.

Best wishes.

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Re: Moving from Vanguard to Fidelity

Post by G-Force » Fri Aug 10, 2018 6:06 pm

cowdogman wrote:
Fri Aug 10, 2018 4:34 pm
I assume the bonus is taxable income, but better taxable income than no income at all!
If it's in a taxable account, then yes it would be taxable. If it's in a retirement account, then it's not.

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Re: Moving from Vanguard to Fidelity

Post by DippityDoo » Fri Aug 10, 2018 6:12 pm

Elysium wrote:
Fri Aug 10, 2018 5:04 pm
Most of what I have to is done via online, and when I needed some support they were able to do it. Perhaps, people aren't as passive as they seem to be :?:
Or perhaps Vanguard's computer systems are in need of upgrade so that passive investors aren't forced to make calls and do business by snail mail because of "glitches" in the system.

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Re: Moving from Vanguard to Fidelity

Post by SlowMovingInvestor » Sat Aug 11, 2018 4:37 am

aristotelian wrote:
Fri Aug 10, 2018 4:56 pm
Not sure about Fidelity, but I did a transfer to Schwab last year. As long as I do not buy, I am able to sell old mutual funds at no charge. If Fidelity will do the same, it is not necessary to convert to ETF.
Fidelity willl NOT accept VG Admiral Funds. I think their web site will even warn you if you try to transfer from VG. Fidelity is unique in brokerages in not even allowing transfers. VG Admiral funds have to be converted to ETFs or liquidated.

informal guide
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Re: Moving from Vanguard to Fidelity

Post by informal guide » Sat Aug 11, 2018 7:29 am

I am surprised that Fidelity no longer accepts VGI Admiral class shares in kind. I did several partial taxable account transfers years ago with Vanguard Admiral class shares (both index and active) to Fidelity and had no problems. Regardless of what the web site shows, you may want to call and ask.

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Re: Moving from Vanguard to Fidelity

Post by SlowMovingInvestor » Sat Aug 11, 2018 8:05 am

informal guide wrote:
Sat Aug 11, 2018 7:29 am
I am surprised that Fidelity no longer accepts VGI Admiral class shares in kind. I did several partial taxable account transfers years ago with Vanguard Admiral class shares (both index and active) to Fidelity and had no problems. Regardless of what the web site shows, you may want to call and ask.
I did a move around 7 months back. My Fidelity rep (who seemed fairly knowledgeable) warned me at that time, and I think the Fidelity transfer page also specifically warned about VG Admiral funds.

I remember thinking at the time that someone was being petulant, but I didn't know if it was VG or Fido :)

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Re: Moving from Vanguard to Fidelity

Post by Mr.BB » Sat Aug 11, 2018 8:13 am

Elysium wrote:
Fri Aug 10, 2018 5:04 pm
cowdogman wrote:
Fri Aug 10, 2018 2:46 pm
After years of barely adequate (and sometimes poor) customer support performance from Vanguard I'm thinking of making the switch to Fidelity.
What kind of customer support are people lacking at Vanguard, especially passive investors who barely need to do anything. I've been with Vanguard for nearly 20 years and I barely had to call customer support 20 times in all these years. Most of what I have to is done via online, and when I needed some support they were able to do it. Perhaps, people aren't as passive as they seem to be :?:
Passive investing doesn't mean inactivity or getting poor customer service when needing clarification on a question or help with an issue that arises.
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rgs92
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Re: Moving from Vanguard to Fidelity

Post by rgs92 » Sat Aug 11, 2018 8:17 am

There was another thread a few weeks ago where someone was very dissatisfied with Fidelity because of perceived inadequate customer support.
Yep, the only thing I do is some transactions (with Fidelity), which should be equally easy with Fido or Vanguard, so I too wonder what the issue is.

Vanguard does not allow any other company to sell the Admiral class of their funds to the best of my knowledge. The same with institutional classes that are within 401Ks and the like.

Maybe there are some differences in website functionality, but I can't see any big difference between all the major financial houses unless one is asking for something out of the ordinary.

Any elaboration of the issues would be interesting.

(It does seem like a lot of work to switch companies, so it does make me curious.)

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nedsaid
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Re: Moving from Vanguard to Fidelity

Post by nedsaid » Sat Aug 11, 2018 9:52 am

It would be ironic if because of Fidelity's recent introduction of Zero Funds and the slashing of fees for its other index funds, if this became a Fidelity forum rather than a Vanguard forum. There are folks here thinking about making the switch from Vanguard to Fidelity to take advantage of the price war. I don't have a Vanguard account but I do have Vanguard Funds and ETFs. I am keeping my Vanguard investments. I also own Fidelity Index funds and am a Fidelity customer. These are both good fund companies, where I a Vanguard account holder, I would not be in a hurry to switch.
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Re: Moving from Vanguard to Fidelity

Post by DippityDoo » Sat Aug 11, 2018 12:39 pm

nedsaid wrote:
Sat Aug 11, 2018 9:52 am
I don't have a Vanguard account but I do have Vanguard Funds and ETFs. I am keeping my Vanguard investments. I also own Fidelity Index funds and am a Fidelity customer. These are both good fund companies, where I a Vanguard account holder, I would not be in a hurry to switch.
I have accounts at both and own funds from both. I have no preference between their stock index funds but give Vanguard the edge in target date funds. I have a strong preference for Fidelity as a brokerage because they are less error-prone and their staff conduct themselves more professionally. My experience is that holding Vanguard funds at Fidelity provides the best of both worlds. Hopefully the OP will have the same experience if he makes the move.

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Re: Moving from Vanguard to Fidelity

Post by Good Listener » Sat Aug 11, 2018 3:10 pm

Although I split with 2 ex-wives, I will never leave Vanguard. They were the first to force down the costs and I wouldn't leave them for a few basis points or some quicker phone responses.

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Re: Moving from Vanguard to Fidelity

Post by SavageAmusement » Sat Aug 11, 2018 3:20 pm

Good Listener wrote:
Sat Aug 11, 2018 3:10 pm
Although I split with 2 ex-wives, I will never leave Vanguard. They were the first to force down the costs and I wouldn't leave them for a few basis points or some quicker phone responses.
You would have saved more if you stayed with your ex-wives and left Vanguard.

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Re: Moving from Vanguard to Fidelity

Post by HJG0989 » Sun Aug 12, 2018 12:30 am

Earl Lemongrab wrote:
Fri Aug 10, 2018 3:16 pm
Fidelity doesn't have an advertised bonus at this time, but you can always ask.
They didn't have an advertised bonus six months or so when I transferred, but I brought it up and got $2,500.

I also received a hard core sales pitch which was annoying and less than honest from my Fido rep. I asked to be unassigned from the sales rep. I'm wondering if this is the new Fido or if it's just my branch. The branch manager didn't seemed too alarmed by what I said, he just didn't want to lose our account.

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Re: Moving from Vanguard to Fidelity

Post by carguyny » Sun Aug 12, 2018 7:13 am

I'm not sure why people keep saying you can't have Admiral shares at Fidelity. I've not tried to transfer any in, but we just added a Vanguard Admiral fund to our workplace 401k that has been with Fidelity for years.

So given they can indeed sell them and we pay $0 for the purchase in the 401k, I would be surprised if you can't transfer them in. Worth a call to Fidelity to check.

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Re: Moving from Vanguard to Fidelity

Post by dave1054 » Sun Aug 12, 2018 7:31 am

It seems crazy to me to switch to Fidelity for a few basis points on index funds. Check out their money market and bond funds. Lot more expensive than Vanguard. Lot more “hard sell” at Fidelity. Fidelity is a private company. It is in business to make a profit and to look out for the interest of its owners. Yes, better service at Fidelity, but it does not come free.

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Re: Moving from Vanguard to Fidelity

Post by sambb » Sun Aug 12, 2018 7:35 am

vanguard customer service is probably indicative of some leadership flaw, given how many times this has been brought up. Would switch if I were you to fidelity. Cheaper index funds and better support - seems like a no brainer. Or, just put new money into fidelity and decide later.

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Re: Moving from Vanguard to Fidelity

Post by carguyny » Sun Aug 12, 2018 8:31 am

dave1054 wrote:
Sun Aug 12, 2018 7:31 am
It seems crazy to me to switch to Fidelity for a few basis points on index funds. Check out their money market and bond funds. Lot more expensive than Vanguard. Lot more “hard sell” at Fidelity. Fidelity is a private company. It is in business to make a profit and to look out for the interest of its owners. Yes, better service at Fidelity, but it does not come free.
I have accounts at Fidelity, Schwab and Vanguard. I've been with Fidelity for about 10 years now and never once had a hard sell. I'm in their Private Client Group and I told them when I set up my account I have no interest in talking to an Advisor. No one has ever reached out to me in those 10 years.

On the money market funds I actually find Fidelity the best in my situation - they have a NY Muni AMT-Free MM fund that charges 0.30%, Vanguard only charges 0.16% but it isn't AMT-Free. I combine the Fidelity MM with 4 week auto-roll treasuries for any cash balance at Fidelity. I effectively use the Fidelity NY Muni AMT-Free MM as my settlement account with a little maintenance, Fidelity will auto-settle trades from the Muni MM account and not require me to place a sell order. Vanguard does have a better Muni bond fund for NY, but Fidelity has much better new issue access - so my vote goes to Fidelity on this again.

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Re: Moving from Vanguard to Fidelity

Post by mouses » Sun Aug 12, 2018 9:08 am

Elysium wrote:
Fri Aug 10, 2018 5:04 pm
cowdogman wrote:
Fri Aug 10, 2018 2:46 pm
After years of barely adequate (and sometimes poor) customer support performance from Vanguard I'm thinking of making the switch to Fidelity.
What kind of customer support are people lacking at Vanguard, especially passive investors who barely need to do anything. I've been with Vanguard for nearly 20 years and I barely had to call customer support 20 times in all these years. Most of what I have to is done via online, and when I needed some support they were able to do it. Perhaps, people aren't as passive as they seem to be :?:
I got so frustrated by incredible delays trying to transfer funds into Vanguard, that I got a check from the source institution and drove to a Schwab office.

Also, I would really like 24/7 support, and more knowledgeable phone people.

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Re: Moving from Vanguard to Fidelity

Post by HueyLD » Sun Aug 12, 2018 9:42 am

Elysium wrote:
Fri Aug 10, 2018 5:04 pm
cowdogman wrote:
Fri Aug 10, 2018 2:46 pm
After years of barely adequate (and sometimes poor) customer support performance from Vanguard I'm thinking of making the switch to Fidelity.
What kind of customer support are people lacking at Vanguard, especially passive investors who barely need to do anything. I've been with Vanguard for nearly 20 years and I barely had to call customer support 20 times in all these years. Most of what I have to is done via online, and when I needed some support they were able to do it. Perhaps, people aren't as passive as they seem to be :?:
It has nothing to do with passive vs. active.

Vanguard works for you because you require virtually no help. However, life changes and it can get complicated as stuff happens. And Vanguard seems to choose not to be helpful when the going gets tough.

When I get old, I may move all my money out of Vanguard for the sake of my estate administration.

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Re: Moving from Vanguard to Fidelity

Post by rasta » Sun Aug 12, 2018 1:31 pm

cowdogman wrote:
Fri Aug 10, 2018 2:46 pm
After years of barely adequate (and sometimes poor) customer support performance from Vanguard I'm thinking of making the switch to Fidelity.
What is your definition of "adequate"?
What specific examples of poor support did you experience at VG?

I've been with Vanguard for a number of years and find their support to be just fine.

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Re: Moving from Vanguard to Fidelity

Post by nedsaid » Sun Aug 12, 2018 11:02 pm

DippityDoo wrote:
Sat Aug 11, 2018 12:39 pm
nedsaid wrote:
Sat Aug 11, 2018 9:52 am
I don't have a Vanguard account but I do have Vanguard Funds and ETFs. I am keeping my Vanguard investments. I also own Fidelity Index funds and am a Fidelity customer. These are both good fund companies, where I a Vanguard account holder, I would not be in a hurry to switch.
I have accounts at both and own funds from both. I have no preference between their stock index funds but give Vanguard the edge in target date funds. I have a strong preference for Fidelity as a brokerage because they are less error-prone and their staff conduct themselves more professionally. My experience is that holding Vanguard funds at Fidelity provides the best of both worlds. Hopefully the OP will have the same experience if he makes the move.
It is ironic that I own Vanguard funds through a couple of Fidelity workplace savings plans. Seeing that Fidelity has chopped its fees for its index funds, I wonder if the savings plans will switch to Fidelity Index funds. Fees are getting pretty low and small investors are now getting what amounts to institutional rates. This would have been unheard of not too long ago.
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Re: Moving from Vanguard to Fidelity

Post by anil686 » Sun Aug 12, 2018 11:10 pm

I am pleased by the cutting of expense ratios for the index funds at Fidelity. I think it pushes competition past pricing for the first time (maybe ever) and into other areas such as security and customer service. VG will need to up its game into the future to compete IMO and that is a good/refreshing thing...

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Re: Moving from Vanguard to Fidelity

Post by SlowMovingInvestor » Mon Aug 13, 2018 12:16 am

carguyny wrote:
Sun Aug 12, 2018 7:13 am
I'm not sure why people keep saying you can't have Admiral shares at Fidelity. I've not tried to transfer any in, but we just added a Vanguard Admiral fund to our workplace 401k that has been with Fidelity for years.
I keep saying it because I was explicitly told that 7-8 months back by my rep (who seemed pretty knowledgeable), and their web site gave me an explicit warning when I tried to transfer from VG. It could have changed by now, but that was the situation earlier this year.

Funds available in 401ks are not always available to retail investors.

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Re: Moving from Vanguard to Fidelity

Post by SlowMovingInvestor » Mon Aug 13, 2018 12:26 am

carguyny wrote:
Sun Aug 12, 2018 8:31 am

On the money market funds I actually find Fidelity the best in my situation - they have a NY Muni AMT-Free MM fund that charges 0.30%, Vanguard only charges 0.16% but it isn't AMT-Free. I combine the Fidelity MM with 4 week auto-roll treasuries for any cash balance at Fidelity. I effectively use the Fidelity NY Muni AMT-Free MM as my settlement account with a little maintenance, Fidelity will auto-settle trades from the Muni MM account and not require me to place a sell order. Vanguard does have a better Muni bond fund for NY, but Fidelity has much better new issue access - so my vote goes to Fidelity on this again.
Fidelity's NY MM AMT free market has a current SEC yield of 0.73% to Vanguard's 1.24%. I don't know how much difference AMT makes (especially given that income subject to AMT is probably only a small part of VG's muni fund income, and given that under the new rules, AMT is likely to be much less applicable to most taxpayers), but I doubt it can come close to making up difference in yields. Now if the MM is really used only briefly, the yield doesn't matter, but if it has a large balance, then it's a different mater.

I'm not sure what reference to new issue access is -- both VG and Fido should have similar Treasury access. I don't know about access to actual muni issues.

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Re: Moving from Vanguard to Fidelity

Post by looking » Mon Aug 13, 2018 3:06 am

maybe i change to Fd

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Re: Moving from Vanguard to Fidelity

Post by cegibbs » Mon Aug 13, 2018 7:38 am

I am thinking about doing the exact opposite by transferring a lot of my money from Fidelity to Vanguard. While I agree that Fidelity’s customer service is excellent, Vanguard seems to do a reasonably good job as well. And I like the fact that Vanguard never tries to sell you more expensive products. Fidelity has a lot of very high expense ratio funds and I don’t like their general business model. Vanguard is client-owned which is the ideal model. I recently attended a seminar conducted by a Fidelity fund manager. Someone in the audience asked the fund manager what the yield was on his fund and the fund manager indicated it was over 3%. Another person in the audience question him again about it and he confirmed it was over 3% and he made it a point to say he always strives for a yield 1% greater than the S&P 500 index. When looking at Morningstar I noticed that the fund yields only 2.3%. That is because the fund has an expense ratio of 73 basis points. I think it’s very interesting that the fund manager didn’t indicate that. Investors will never receive the greater than 3% that he was touting. To me that is deceptive and dishonest. You would never see a fund manager from Vanguard making such a claim. Also, if I moved some active funds from Fidelity to Vanguard I will save over $2,500 a year in expenses. My Fidelity rep said that is a meaningless amount of money to be concerned with and said I should stay with Fidelity to have all of my assets with one firm and to maintain the value that Fidelity provides me. I can’t imagine anyone at Vanguard saying saving money on expenses isn’t important.

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Earl Lemongrab
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Re: Moving from Vanguard to Fidelity

Post by Earl Lemongrab » Mon Aug 13, 2018 12:39 pm

cegibbs wrote:
Mon Aug 13, 2018 7:38 am
Vanguard is client-owned which is the ideal model.
It is not client-owned. It is owned by the funds.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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Re: Moving from Vanguard to Fidelity

Post by Blimpalot » Mon Aug 13, 2018 12:56 pm

cegibbs wrote:
Mon Aug 13, 2018 7:38 am
Also, if I moved some active funds from Fidelity to Vanguard I will save over $2,500 a year in expenses. My Fidelity rep said that is a meaningless amount of money to be concerned with
I think my response to that would have been something along the lines of "Ok, send me a check for $2500 and I'll stay. Surely, if it's a meaningless amount of money, Fidelity will have no problem sending it my way. Thanks!"
"Nothing I see can be taken from me."--Tom Marshall

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Re: Moving from Vanguard to Fidelity

Post by rasta » Mon Aug 13, 2018 3:27 pm

Earl Lemongrab wrote:
Mon Aug 13, 2018 12:39 pm
cegibbs wrote:
Mon Aug 13, 2018 7:38 am
Vanguard is client-owned which is the ideal model.
It is not client-owned. It is owned by the funds.
At Vanguard, there are no outside owners, and therefore, no conflicting loyalties. The company is owned by its funds, which in turn are owned by their shareholders—including you, if you're a Vanguard fund investor.

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Earl Lemongrab
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Re: Moving from Vanguard to Fidelity

Post by Earl Lemongrab » Mon Aug 13, 2018 3:31 pm

rasta wrote:
Mon Aug 13, 2018 3:27 pm
Earl Lemongrab wrote:
Mon Aug 13, 2018 12:39 pm
cegibbs wrote:
Mon Aug 13, 2018 7:38 am
Vanguard is client-owned which is the ideal model.
It is not client-owned. It is owned by the funds.
At Vanguard, there are no outside owners, and therefore, no conflicting loyalties. The company is owned by its funds, which in turn are owned by their shareholders—including you, if you're a Vanguard fund investor.
You might own the funds (and that's everyone, not just Vanguard account holders) but you don't get any say in what they do.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

MichCPA
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Re: Moving from Vanguard to Fidelity

Post by MichCPA » Mon Aug 13, 2018 3:51 pm

Earl Lemongrab wrote:
Mon Aug 13, 2018 12:39 pm
cegibbs wrote:
Mon Aug 13, 2018 7:38 am
Vanguard is client-owned which is the ideal model.
It is not client-owned. It is owned by the funds.
+1000 I have never gotten to make a Vanguard ownership decision and I don't know why people keep bringing this up. There is no practical difference. If the fund managers are voting the ownership of the funds, it is more practically accurate to say Vanguard is owned by its management team. Interestingly enough, I believe Fidelity is majority (51%) owned by employees and the rest is the Johnson family so no public ownership there either. The service difference is real. Fidelity was able to announce and roll out the 0 funds and low minimums in 3 days; Vanguard had a month to get ready for the free ETF trades and......still nothing.

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Re: Moving from Vanguard to Fidelity

Post by dwickenh » Mon Aug 13, 2018 3:54 pm

SavageAmusement wrote:
Sat Aug 11, 2018 3:20 pm
Good Listener wrote:
Sat Aug 11, 2018 3:10 pm
Although I split with 2 ex-wives, I will never leave Vanguard. They were the first to force down the costs and I wouldn't leave them for a few basis points or some quicker phone responses.
You would have saved more if you stayed with your ex-wives and left Vanguard.

/quote]

Cruel, that's just cruel. :twisted:
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” | — Warren Buffett

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Earl Lemongrab
Posts: 5866
Joined: Tue Jun 10, 2014 1:14 am

Re: Moving from Vanguard to Fidelity

Post by Earl Lemongrab » Mon Aug 13, 2018 4:12 pm

My insurance company is a mutual, meaning I am actually a shareholder. Yet I don't assume that this will result in better rates or customer service. If it did, then the mutuals would have swept the others from the field by now.

If it makes you feel good to think, "I'm an owner so they have to look out for me" then go for it. I just don't think it's reality.

Even under the ownership by proxy theory, it's not the account holders who are owners, but fund holders. That means me too. So I think all of you getting free account services are a drag on my company and they should start charging you for transactions.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

Good Listener
Posts: 626
Joined: Wed Dec 30, 2015 5:24 pm

Re: Moving from Vanguard to Fidelity

Post by Good Listener » Mon Aug 13, 2018 5:03 pm

SavageAmusement wrote:
Sat Aug 11, 2018 3:20 pm
Good Listener wrote:
Sat Aug 11, 2018 3:10 pm
Although I split with 2 ex-wives, I will never leave Vanguard. They were the first to force down the costs and I wouldn't leave them for a few basis points or some quicker phone responses.
You would have saved more if you stayed with your ex-wives and left Vanguard.
No question dollar-wise, particularly #2, who my friends labeled as "the taker". But healthwise, I'm better off. :sharebeer

Good Listener
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Joined: Wed Dec 30, 2015 5:24 pm

Re: Moving from Vanguard to Fidelity

Post by Good Listener » Mon Aug 13, 2018 5:06 pm

dwickenh wrote:
Mon Aug 13, 2018 3:54 pm
SavageAmusement wrote:
Sat Aug 11, 2018 3:20 pm
Good Listener wrote:
Sat Aug 11, 2018 3:10 pm
Although I split with 2 ex-wives, I will never leave Vanguard. They were the first to force down the costs and I wouldn't leave them for a few basis points or some quicker phone responses.
You would have saved more if you stayed with your ex-wives and left Vanguard.

/quote]

Cruel, that's just cruel. :twisted:
It could be viewed as cruel in a humorous way but I take it in stride and actually welcome it. It serves as a permanent reminder to avoid #3 as some men (me) aren't cut out for it.

aas
Posts: 3
Joined: Sun Dec 31, 2017 3:43 pm

Re: Moving from Vanguard to Fidelity

Post by aas » Mon Aug 13, 2018 5:15 pm

I have both Fidelity and vanguard accounts. I am a low maintenance investor and rarely call for help. However when I called Vanguard to reset password that could not be reset online the rep was condescending and and was acting like she was doing me favor. Fast forward a few years late and I had to call for Username issues and agent struggled to find the problem, the agent had to call IT support to figure out the problem. Fidelity have excellent customer service and helped me transfer out of vanguard.

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dwickenh
Posts: 1460
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Location: Illinois

Re: Moving from Vanguard to Fidelity

Post by dwickenh » Mon Aug 13, 2018 5:20 pm

Good Listener wrote:
Mon Aug 13, 2018 5:06 pm
dwickenh wrote:
Mon Aug 13, 2018 3:54 pm
SavageAmusement wrote:
Sat Aug 11, 2018 3:20 pm
Good Listener wrote:
Sat Aug 11, 2018 3:10 pm
Although I split with 2 ex-wives, I will never leave Vanguard. They were the first to force down the costs and I wouldn't leave them for a few basis points or some quicker phone responses.
You would have saved more if you stayed with your ex-wives and left Vanguard.

/quote]

Cruel, that's just cruel. :twisted:
It could be viewed as cruel in a humorous way but I take it in stride and actually welcome it. It serves as a permanent reminder to avoid #3 as some men (me) aren't cut out for it.
I agree and did see the humor in it :P
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” | — Warren Buffett

jdb
Posts: 1489
Joined: Wed Dec 05, 2012 8:21 pm

Re: Moving from Vanguard to Fidelity

Post by jdb » Mon Aug 13, 2018 6:04 pm

All my funds at Vanguard, and all in Vanguard mutual funds except bond ladder and individual stocks, and bond ladder and individual stocks also on Vanguard platform. I would never move to Fidelity. If not for Vanguard there would probably be no low cost funds or ETF’s, Fidelity would still be charging over 100 basis points. And probably no index funds. Plus I like their customer service for my personal issues. Good luck.

SavageAmusement
Posts: 50
Joined: Tue Dec 29, 2015 8:02 pm

Re: Moving from Vanguard to Fidelity

Post by SavageAmusement » Mon Aug 13, 2018 6:21 pm

dwickenh wrote:
Mon Aug 13, 2018 5:20 pm
Good Listener wrote:
Mon Aug 13, 2018 5:06 pm
dwickenh wrote:
Mon Aug 13, 2018 3:54 pm
SavageAmusement wrote:
Sat Aug 11, 2018 3:20 pm
Good Listener wrote:
Sat Aug 11, 2018 3:10 pm
Although I split with 2 ex-wives, I will never leave Vanguard. They were the first to force down the costs and I wouldn't leave them for a few basis points or some quicker phone responses.
You would have saved more if you stayed with your ex-wives and left Vanguard.

/quote]

Cruel, that's just cruel. :twisted:
It could be viewed as cruel in a humorous way but I take it in stride and actually welcome it. It serves as a permanent reminder to avoid #3 as some men (me) aren't cut out for it.
I agree and did see the humor in it :P
Just to be clear... my intent was humor based on personal experience.

tesuzuki2002
Posts: 538
Joined: Fri Dec 11, 2015 12:40 pm

Re: Moving from Vanguard to Fidelity

Post by tesuzuki2002 » Mon Aug 13, 2018 6:29 pm

cowdogman wrote:
Fri Aug 10, 2018 2:46 pm
After years of barely adequate (and sometimes poor) customer support performance from Vanguard I'm thinking of making the switch to Fidelity.

If I make the switch I will want to move all my investments. But I have very large gains in one fund (VTSAX).

After doing some research it appears that I can convert my VTSAX shares to ETFs with no gain being triggered. I can then transfer the ETFs to Fidelity, also with no gain being triggered.

Does that sound right?

Thanks.

Brad
I've been having some issues with customer support as of late... I did mention to Vanguard I was looking at alternative options for facilitating my investments... they actually responded much better... But I feel like I shouldn't have to threaten to leave to get adequate customer service....

Good Listener
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Joined: Wed Dec 30, 2015 5:24 pm

Re: Moving from Vanguard to Fidelity

Post by Good Listener » Mon Aug 13, 2018 7:30 pm

SavageAmusement wrote:
Mon Aug 13, 2018 6:21 pm
dwickenh wrote:
Mon Aug 13, 2018 5:20 pm
Good Listener wrote:
Mon Aug 13, 2018 5:06 pm
dwickenh wrote:
Mon Aug 13, 2018 3:54 pm
SavageAmusement wrote:
Sat Aug 11, 2018 3:20 pm


You would have saved more if you stayed with your ex-wives and left Vanguard.

/quote]

Cruel, that's just cruel. :twisted:
It could be viewed as cruel in a humorous way but I take it in stride and actually welcome it. It serves as a permanent reminder to avoid #3 as some men (me) aren't cut out for it.
I agree and did see the humor in it :P
Just to be clear... my intent was humor based on personal experience.
I think we all took it that way. Sorry you shared my experience :oops:

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