Charles Schwab or Fidelity?

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masonstone
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Charles Schwab or Fidelity?

Post by masonstone » Fri Nov 15, 2019 8:23 am

Which do you recommend if Vanguard is not an option? It’s for my solo401k and Vanguard doesn’t accept rollover from sep.

ColoRetiredGirl
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Re: Charles Schwab or Fidelity?

Post by ColoRetiredGirl » Fri Nov 15, 2019 10:57 am

I am with Schwab and very happy with their customer service. With this said, interview both companies and make a decision which one best fits your investment goals.

dbr
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Re: Charles Schwab or Fidelity?

Post by dbr » Fri Nov 15, 2019 11:01 am

I am not aware of any particular reason to prefer one over the other. Maybe someone has some specific examples that may apply.

I have used both.

chw
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Re: Charles Schwab or Fidelity?

Post by chw » Fri Nov 15, 2019 11:10 am

I’m with Schwab. I find their customer service to be best in class, though to be fair, it’s been several years since I used Fidelity as a broker. In general, I think if you’re leaning to one vs. the other for a reason you’ve identified, I don’t think you’ll go wrong with either brokerage.

anon_investor
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Re: Charles Schwab or Fidelity?

Post by anon_investor » Fri Nov 15, 2019 11:28 am

Not that you necessarily need it, but there are some physical Schwab and Fidelity locations around the country, if that is something you are interested in, maybe see if there are any near you? Just a thought.

Not sure your investment style in (mutual funds vs. ETFs), but I heard that Fidelity has a higher yielding sweep account vs. Schwab.

Chrono Triggered
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Re: Charles Schwab or Fidelity?

Post by Chrono Triggered » Fri Nov 15, 2019 11:28 am

Either is fine. I use Fidelity for most of my accounts and have been extremely satisfied.

MichCPA
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Re: Charles Schwab or Fidelity?

Post by MichCPA » Fri Nov 15, 2019 11:30 am

So is it fair to say that the current Boglehead consensus to use VG funds, but not hold them in VG. Possible exceptions being money markets and a couple of non index mutual funds.

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Just sayin...
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Re: Charles Schwab or Fidelity?

Post by Just sayin... » Fri Nov 15, 2019 11:32 am

I have both (Fidelity was through work, Schwab is for personal). I like/trust my local Schwab guy, low fees, no-fee checking and ATM privileges, and their Pinnacle service. Fidelity has my HSA account because Schwab does not offer these, and also holds my deferred compensation investments. IMHO, both are good and provide outstanding service. It would be hard to make a bad choice between the two.

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Re: Charles Schwab or Fidelity?

Post by 123 » Fri Nov 15, 2019 11:39 am

We have accounts with both Fidelity and Schwab and like them both. The few times I've gone to (both) their local offices the service has been prompt and excellent. Their websites are both very complete. The few times I called them the service has been top notch. That said there are now two areas where Fidelity is now superior to Schwab for my needs. Fidelity allows a default higher yielding MMF for cash in your accounts whereas the cash position in a Schwab account is low-yielding but you can "buy" (free) a higher yielding MMF with that cash. If you deal with treasuries at auction Fidelity allows automatic reinvestment at maturity whereas Schwab lacks an automatic function. Schwab has significantly more local offices than Fidelity. You likely can't go wrong with either one, there are some relatively small variations between them.
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Island John
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Re: Charles Schwab or Fidelity?

Post by Island John » Fri Nov 15, 2019 11:40 am

I use both Schwab and Fidelity. My experience is that they are both good, very comparable. I do like Schwab's customer service although I have not had to contact Fidelity customer service as much. Both have brick and mortar locations near me which has been an advantage. I like Schwab's web site better.

One advantage for Fidelity that I've found is that I can sell funds in their money market account and invest them in another fund on the same day. With Schwab, I have to sell the money market funds one day and those funds are not available to invest in another fund until the next day. I don't sell or buy very often so it has been a minor inconvenience but it is a difference.

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Just sayin...
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Re: Charles Schwab or Fidelity?

Post by Just sayin... » Fri Nov 15, 2019 11:55 am

Island John wrote:
Fri Nov 15, 2019 11:40 am
...One advantage for Fidelity that I've found is that I can sell funds in their money market account and invest them in another fund on the same day. With Schwab, I have to sell the money market funds one day and those funds are not available to invest in another fund until the next day. I don't sell or buy very often so it has been a minor inconvenience but it is a difference.
SWVXX is treated like a mutual fund, so trades clear at the end of the day. After that point, you can trade funds realized from your sale. Does Fidelity allow you to trade their money market fund like a stock or ETF?

Island John
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Re: Charles Schwab or Fidelity?

Post by Island John » Fri Nov 15, 2019 12:03 pm

Just sayin... wrote:
Fri Nov 15, 2019 11:55 am
Island John wrote:
Fri Nov 15, 2019 11:40 am
...One advantage for Fidelity that I've found is that I can sell funds in their money market account and invest them in another fund on the same day. With Schwab, I have to sell the money market funds one day and those funds are not available to invest in another fund until the next day. I don't sell or buy very often so it has been a minor inconvenience but it is a difference.
SWVXX is treated like a mutual fund, so trades clear at the end of the day. After that point, you can trade funds realized from your sale. Does Fidelity allow you to trade their money market fund like a stock or ETF?
[Edited/Updated] With the Fidelity Government Money Market Fund (SPAXX), I'm able to use funds, at least a portion of them, directly to buy other funds. I don't have to sell them first and wait until the next day to purchase shares in other funds as I do with the SWVXX fund at Schwab. Also, I can only sell 80% of the funds in SWVXX at one time. I don't know if any percentage limits apply with the SPAXX fund at Fidelity.

The fact that I can draw funds from SPAXX at Fidelity immediately may be related to the fact that it is defined as my "Core Position" with Fidelity. Just speculating. Not sure about that.
Last edited by Island John on Fri Nov 15, 2019 12:54 pm, edited 4 times in total.

snowman
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Re: Charles Schwab or Fidelity?

Post by snowman » Fri Nov 15, 2019 12:25 pm

OP, I would recommend you change the title of your thread to something like "Schwab or Fidelity for solo 401k?" I say that because all the responses are about regular accounts, not solo 401k.

I cannot comment on Schwab (hopefully other self-employed BHs will chime in), but I did have solo 401k at Fidelity for years. I liked everything about it, especially CS. They have dedicated team for these types of accounts, so it was great help when I was just getting started. The only downside was (probably still is) that you cannot make electronic deposits. You either have to mail them, or deposit them at your local office.

Again, not sure about Schwab solo 401k offering, but use the search function, this has been discussed many times here.

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jhfenton
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Re: Charles Schwab or Fidelity?

Post by jhfenton » Fri Nov 15, 2019 12:45 pm

I would look at all of the fees that could be imposed over the life-cycle of the solo 401(k). What are their fees for distributions, transfers, account closures, etc.? I have no idea what those are for Fidelity and Schwab solo 401(k) accounts.

For an ordinary IRA or taxable brokerage account, I would pick Vanguard or Fidelity over Schwab because Schwab has an account transfer (out) fee ($50 for full, $25 for partial). Just based on principle, I don't do business with institutions that feel the need to charge me to discourage my leaving.

There's more paperwork involved in 401(k) plans, so I might not be as dogmatic about closure fees, but I would certainly compare them.

snowman
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Re: Charles Schwab or Fidelity?

Post by snowman » Fri Nov 15, 2019 5:16 pm

jhfenton wrote:
Fri Nov 15, 2019 12:45 pm
I would look at all of the fees that could be imposed over the life-cycle of the solo 401(k). What are their fees for distributions, transfers, account closures, etc.? I have no idea what those are for Fidelity and Schwab solo 401(k) accounts.

For an ordinary IRA or taxable brokerage account, I would pick Vanguard or Fidelity over Schwab because Schwab has an account transfer (out) fee ($50 for full, $25 for partial). Just based on principle, I don't do business with institutions that feel the need to charge me to discourage my leaving.

There's more paperwork involved in 401(k) plans, so I might not be as dogmatic about closure fees, but I would certainly compare them.
Good point about fees. Again, don't know about Schwab, but Fidelity has no fees - startup, ongoing, or termination. When I terminated the plan, Fidelity CS rep even helped me with 5500 form that needs to be filed with IRS after account is closed. Rolled over to Fidelity IRA which took 1 business day. Again, no fee.

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jeffyscott
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Re: Charles Schwab or Fidelity?

Post by jeffyscott » Fri Nov 15, 2019 5:29 pm

Just sayin... wrote:
Fri Nov 15, 2019 11:55 am
Island John wrote:
Fri Nov 15, 2019 11:40 am
...One advantage for Fidelity that I've found is that I can sell funds in their money market account and invest them in another fund on the same day. With Schwab, I have to sell the money market funds one day and those funds are not available to invest in another fund until the next day. I don't sell or buy very often so it has been a minor inconvenience but it is a difference.
SWVXX is treated like a mutual fund, so trades clear at the end of the day. After that point, you can trade funds realized from your sale. Does Fidelity allow you to trade their money market fund like a stock or ETF?
I don't know about ETFs, but if this is about mutual funds, you do not have to wait a day to reinvest at Schwab. You do, however, have to enter two separate trades: one order to sell $X of SWVXX and a second order to buy $X of a mutual fund.
Time is your friend; impulse is your enemy. - John C. Bogle

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indexfundfan
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Re: Charles Schwab or Fidelity?

Post by indexfundfan » Fri Nov 15, 2019 5:50 pm

Island John wrote:
Fri Nov 15, 2019 12:03 pm
Just sayin... wrote:
Fri Nov 15, 2019 11:55 am
Island John wrote:
Fri Nov 15, 2019 11:40 am
...One advantage for Fidelity that I've found is that I can sell funds in their money market account and invest them in another fund on the same day. With Schwab, I have to sell the money market funds one day and those funds are not available to invest in another fund until the next day. I don't sell or buy very often so it has been a minor inconvenience but it is a difference.
SWVXX is treated like a mutual fund, so trades clear at the end of the day. After that point, you can trade funds realized from your sale. Does Fidelity allow you to trade their money market fund like a stock or ETF?
[Edited/Updated] With the Fidelity Government Money Market Fund (SPAXX), I'm able to use funds, at least a portion of them, directly to buy other funds. I don't have to sell them first and wait until the next day to purchase shares in other funds as I do with the SWVXX fund at Schwab. Also, I can only sell 80% of the funds in SWVXX at one time. I don't know if any percentage limits apply with the SPAXX fund at Fidelity.

The fact that I can draw funds from SPAXX at Fidelity immediately may be related to the fact that it is defined as my "Core Position" with Fidelity. Just speculating. Not sure about that.
The reason is because Fidelity's money market funds settle same business day.
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SlowMovingInvestor
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Re: Charles Schwab or Fidelity?

Post by SlowMovingInvestor » Fri Nov 15, 2019 5:52 pm

Nothing wrong with Schwab, but if I had to choose, I'd go with Fido.

Cyanide123
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Re: Charles Schwab or Fidelity?

Post by Cyanide123 » Fri Nov 15, 2019 7:32 pm

Pick etrade for a solo 401k. Most versatile, can get vanguard mutual funds fee free, i think they even allow Roth conversions.

There are plenty of discussions on the topic and a lot of people have preferred etrade for solo 401k

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dogagility
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Re: Charles Schwab or Fidelity?

Post by dogagility » Fri Nov 15, 2019 7:34 pm

MichCPA wrote:
Fri Nov 15, 2019 11:30 am
So is it fair to say that the current Boglehead consensus to use VG funds, but not hold them in VG. Possible exceptions being money markets and a couple of non index mutual funds.
I wouldn't say there is a consensus to use VG funds on the forum. Here are pages for Schwab and Fidelity, two of the three houses most often recommended.
https://www.bogleheads.org/wiki/Fidelity
https://www.bogleheads.org/wiki/Charles_Schwab
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student
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Re: Charles Schwab or Fidelity?

Post by student » Fri Nov 15, 2019 7:38 pm

Either is fine. However, Schwab is currently offering transfer bonus.

kmurp
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Re: Charles Schwab or Fidelity?

Post by kmurp » Sat Nov 16, 2019 4:40 am

I’ve had Fidelity for a number of years and our work plan just switched to Schwab. Impressions so far:

Schwab website doesn’t seem to display as well on my iPad .
Fidelity has a great performance tab that tracks annualized and cumulative returns minus fees vs standard benchmarks. I’ve not found that info yet at Schwab (it might be there somewhere). This is less important for low fee index only portfolios I think, as fees are minimal and you already know you’re getting a market return.

Most importantly, the Schwab retirement calculator pales in comparison to fidelity. The latter is very powerful, while the Schwab one is very basic. Fidelity’s calculator allows detailed expense projections which vary over retirement years. It outputs returns in three ways: normal returns, below average and well below average (using your current allocation), which allows stress testing of your plan. It outputs both nominal and inflation adjusted balances. So on both te spending and the returns side, it’s much better.
When I retire in a year or two, I’ll likely consolidate to Fidelity.

triggertreat
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Re: Charles Schwab or Fidelity?

Post by triggertreat » Sat Nov 16, 2019 5:54 am

I just retired and have both.I am in the process of transferring all into Fidelity.I like Fidelity's layout and ease of use a lot better.Works best for my simple needs.YMMV.

n00b
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Re: Charles Schwab or Fidelity?

Post by n00b » Sat Nov 16, 2019 8:58 am

I use both Fidelity and Schwab. In general: Fidelity has the advantage of offering the Fidelity Rewards Visa with 2% cash back. Customer service has been better at Schwab for me. I also prefer the way Schwab lists transactions in their Quicken downloads.

snowman
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Re: Charles Schwab or Fidelity?

Post by snowman » Sat Nov 16, 2019 9:58 am

student wrote:
Fri Nov 15, 2019 7:38 pm
Either is fine. However, Schwab is currently offering transfer bonus.
Unfortunately, i401k plans NEVER qualify for brokerage bonuses.

radiowave
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Re: Charles Schwab or Fidelity?

Post by radiowave » Sat Nov 16, 2019 11:39 am

Island John wrote:
Fri Nov 15, 2019 12:03 pm
Just sayin... wrote:
Fri Nov 15, 2019 11:55 am
Island John wrote:
Fri Nov 15, 2019 11:40 am
...One advantage for Fidelity that I've found is that I can sell funds in their money market account and invest them in another fund on the same day. With Schwab, I have to sell the money market funds one day and those funds are not available to invest in another fund until the next day. I don't sell or buy very often so it has been a minor inconvenience but it is a difference.
SWVXX is treated like a mutual fund, so trades clear at the end of the day. After that point, you can trade funds realized from your sale. Does Fidelity allow you to trade their money market fund like a stock or ETF?
[Edited/Updated] With the Fidelity Government Money Market Fund (SPAXX), I'm able to use funds, at least a portion of them, directly to buy other funds. I don't have to sell them first and wait until the next day to purchase shares in other funds as I do with the SWVXX fund at Schwab. Also, I can only sell 80% of the funds in SWVXX at one time. I don't know if any percentage limits apply with the SPAXX fund at Fidelity.

The fact that I can draw funds from SPAXX at Fidelity immediately may be related to the fact that it is defined as my "Core Position" with Fidelity. Just speculating. Not sure about that.
So if I have say $1000 in SPAXX in a Fidelity cash management account and write a check for say $500, will Fidelity liquidate $500 of SPAXX to cover the check?
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Chrono Triggered
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Re: Charles Schwab or Fidelity?

Post by Chrono Triggered » Sat Nov 16, 2019 11:53 am

radiowave wrote:
Sat Nov 16, 2019 11:39 am
So if I have say $1000 in SPAXX in a Fidelity cash management account and write a check for say $500, will Fidelity liquidate $500 of SPAXX to cover the check?
Yes. I have a CMA account and I buy SPRXX after every paycheck. Fidelity automatically liquidates from the fund to pay for any withdrawals.

bondsr4me
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Re: Charles Schwab or Fidelity?

Post by bondsr4me » Sat Nov 16, 2019 11:59 am

As of now, if I was choosing only one, it would be Fidelity.

Occasionally I buy individual corporate bonds. Fidelity's commission is $1/bond unlike Schwab's minimum $10.
I much prefer Fidelity's bond screen page also.

Have a great weekend.

HereToLearn
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Re: Charles Schwab or Fidelity?

Post by HereToLearn » Sat Nov 16, 2019 11:59 am

I have accounts at Fidelity and Schwab, but have been with Fidelity longer. I prefer both the online layout and phone service of Fidelity. I have more money at Fidelity, so perhaps my calls are routed to a higher level service dept (seems unlikely)?

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Re: Charles Schwab or Fidelity?

Post by jeffyscott » Sat Nov 16, 2019 12:30 pm

bondsr4me wrote:
Sat Nov 16, 2019 11:59 am
I much prefer Fidelity's bond screen page also.
Opposite here, at least with regard to the results from the screening. I am assuming that for corporate bonds, like CDs, Fidelity ignores commission in calculating the YTM that they list in the table of screening results. On Schwab the listed YTM in the table of results is net of commission, this makes it much easier to compare the choices and also means you can directly compare new issues (which for CDs have no commission at either brokerage) to secondaries in a single table.

For me the $10 minimum just means don't buy less that $10,000 worth on Schwab.
Time is your friend; impulse is your enemy. - John C. Bogle

bondsr4me
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Re: Charles Schwab or Fidelity?

Post by bondsr4me » Sat Nov 16, 2019 12:40 pm

jeffyscott wrote:
Sat Nov 16, 2019 12:30 pm
bondsr4me wrote:
Sat Nov 16, 2019 11:59 am
I much prefer Fidelity's bond screen page also.
Opposite here, at least with regard to the results from the screening. I am assuming that for corporate bonds, like CDs, Fidelity ignores commission in calculating the YTM that they list in the table of screening results. On Schwab the listed YTM in the table of results is net of commission, this makes it much easier to compare the choices and also means you can directly compare new issues (which for CDs have no commission at either brokerage) to secondaries in a single table.

For me the $10 minimum just means don't buy less that $10,000 worth on Schwab.
Fidelity shows the YTM on order entry review screen; at least the last time I used it they did.

pjohn07
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Re: Charles Schwab or Fidelity?

Post by pjohn07 » Sat Nov 16, 2019 12:48 pm

I just went through this exercise. Spent close to 2 weeks choosing between Fido, Schwab, and TDA for my portfolio (See: viewtopic.php?f=1&t=293655&p=4813806#p4813806). I met from representatives from each brokerage twice, sometimes 3 times in person. My take is that they will all match each other's signup bonuses if you get any one of them to put it in writing 1st (TDA was the 1st to step to the plate and put it in writing, btw).

I went with Fido. They met the bonus (took some haggling), I like the way they automatically cash sweep, have a reputation for research, and supposedly don't take payment for order flows (PFOF): https://www.stockbrokers.com/guides/order-execution. If you're looking at Schwab's Robo offering do keep an eye on how much cash they leave on the side.

That said, I think you'd be fine with either.

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Re: Charles Schwab or Fidelity?

Post by ruralavalon » Sat Nov 16, 2019 1:01 pm

masonstone wrote:
Fri Nov 15, 2019 8:23 am
Which do you recommend if Vanguard is not an option? It’s for my solo401k and Vanguard doesn’t accept rollover from sep.
My preference would be Fidelity over Schwab.

Fidelity offers a total international stock index fund and a small-cap value index fund, which Schwab does not. (Both offer ETFs for those types of investments, but my preference is traditional mutual funds rather than ETFs.) Fidelity offers better money market funds.

I believe than a solo 401k at E*Trade will also accept an incoming rollover from an IRA.
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Re: Charles Schwab or Fidelity?

Post by jeffyscott » Sat Nov 16, 2019 1:40 pm

bondsr4me wrote:
Sat Nov 16, 2019 12:40 pm
jeffyscott wrote:
Sat Nov 16, 2019 12:30 pm
bondsr4me wrote:
Sat Nov 16, 2019 11:59 am
I much prefer Fidelity's bond screen page also.
Opposite here, at least with regard to the results from the screening. I am assuming that for corporate bonds, like CDs, Fidelity ignores commission in calculating the YTM that they list in the table of screening results. On Schwab the listed YTM in the table of results is net of commission, this makes it much easier to compare the choices and also means you can directly compare new issues (which for CDs have no commission at either brokerage) to secondaries in a single table.

For me the $10 minimum just means don't buy less that $10,000 worth on Schwab.
Fidelity shows the YTM on order entry review screen; at least the last time I used it they did.
Yes, but this means that you can see it for only one bond or CD at a time and that only after going through another step or two, as if you are buying. With Schwab it can be seen and all can be compared by simply looking at the online table of results.
Time is your friend; impulse is your enemy. - John C. Bogle

student
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Re: Charles Schwab or Fidelity?

Post by student » Sat Nov 16, 2019 2:41 pm

snowman wrote:
Sat Nov 16, 2019 9:58 am
student wrote:
Fri Nov 15, 2019 7:38 pm
Either is fine. However, Schwab is currently offering transfer bonus.
Unfortunately, i401k plans NEVER qualify for brokerage bonuses.
Good to know. Thanks for the information.

bondsr4me
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Re: Charles Schwab or Fidelity?

Post by bondsr4me » Sat Nov 16, 2019 6:29 pm

jeffyscott wrote:
Sat Nov 16, 2019 1:40 pm
bondsr4me wrote:
Sat Nov 16, 2019 12:40 pm
jeffyscott wrote:
Sat Nov 16, 2019 12:30 pm
bondsr4me wrote:
Sat Nov 16, 2019 11:59 am
I much prefer Fidelity's bond screen page also.
Opposite here, at least with regard to the results from the screening. I am assuming that for corporate bonds, like CDs, Fidelity ignores commission in calculating the YTM that they list in the table of screening results. On Schwab the listed YTM in the table of results is net of commission, this makes it much easier to compare the choices and also means you can directly compare new issues (which for CDs have no commission at either brokerage) to secondaries in a single table.

For me the $10 minimum just means don't buy less that $10,000 worth on Schwab.
Fidelity shows the YTM on order entry review screen; at least the last time I used it they did.

Yes, but this means that you can see it for only one bond or CD at a time and that only after going through another step or two, as if you are buying. With Schwab it can be seen and all can be compared by simply looking at the online table of results.
i am correcting my post.
Fidelity bond screen shows YTM for every bond listed on the bond screen.
They also show yield to worst/yield to sink for every bond listed.

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SlowMovingInvestor
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Re: Charles Schwab or Fidelity?

Post by SlowMovingInvestor » Sat Nov 16, 2019 6:48 pm

What about inventory of corporate (or muni) bonds available at Fidelity vs Schwab ? Genuinely curious.

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Re: Charles Schwab or Fidelity?

Post by BuddyJet » Sat Nov 16, 2019 10:13 pm

SlowMovingInvestor wrote:
Sat Nov 16, 2019 6:48 pm
What about inventory of corporate (or muni) bonds available at Fidelity vs Schwab ? Genuinely curious.
I don’t do corporate but for muni, I found Fidelity had much more availability. When I saw the same bond at both places, Fidelity was better priced. After searching the field, I do all my muni at Fidelity
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Re: Charles Schwab or Fidelity?

Post by jeffyscott » Sun Nov 17, 2019 7:18 am

bondsr4me wrote:
Sat Nov 16, 2019 6:29 pm
jeffyscott wrote:
Sat Nov 16, 2019 1:40 pm
bondsr4me wrote:
Sat Nov 16, 2019 12:40 pm
jeffyscott wrote:
Sat Nov 16, 2019 12:30 pm
bondsr4me wrote:
Sat Nov 16, 2019 11:59 am
I much prefer Fidelity's bond screen page also.
Opposite here, at least with regard to the results from the screening. I am assuming that for corporate bonds, like CDs, Fidelity ignores commission in calculating the YTM that they list in the table of screening results. On Schwab the listed YTM in the table of results is net of commission, this makes it much easier to compare the choices and also means you can directly compare new issues (which for CDs have no commission at either brokerage) to secondaries in a single table.

For me the $10 minimum just means don't buy less that $10,000 worth on Schwab.
Fidelity shows the YTM on order entry review screen; at least the last time I used it they did.

Yes, but this means that you can see it for only one bond or CD at a time and that only after going through another step or two, as if you are buying. With Schwab it can be seen and all can be compared by simply looking at the online table of results.
i am correcting my post.
Fidelity bond screen shows YTM for every bond listed on the bond screen.
They also show yield to worst/yield to sink for every bond listed.
Yes, but this is YTM ignoring the commission. If you continue to the confirmation page, you will see a different, lower YTM that is net of commission... assuming that they have not changed things.
Time is your friend; impulse is your enemy. - John C. Bogle

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Re: Charles Schwab or Fidelity?

Post by mptfan » Sun Nov 17, 2019 7:29 am

MichCPA wrote:
Fri Nov 15, 2019 11:30 am
So is it fair to say that the current Boglehead consensus to use VG funds, but not hold them in VG.
No.

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Re: Charles Schwab or Fidelity?

Post by LiveSimple » Sun Nov 17, 2019 7:58 am

I see a slight advantage at Fidelity than Schwab. At Fidelity I can move money and immediately buy any index eft. In Schawb that takes a few days from the transfer to the money available to purchase.

Same in money account for debit card, Schwab, has a four day hold, that is an inConvenience, When traveling overseas and planning to use the debit card. Have to transfer money a week before the travel.
Last edited by LiveSimple on Sun Nov 17, 2019 10:53 am, edited 1 time in total.

bondsr4me
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Re: Charles Schwab or Fidelity?

Post by bondsr4me » Sun Nov 17, 2019 8:49 am

jeffyscott wrote:
Sun Nov 17, 2019 7:18 am
bondsr4me wrote:
Sat Nov 16, 2019 6:29 pm
jeffyscott wrote:
Sat Nov 16, 2019 1:40 pm
bondsr4me wrote:
Sat Nov 16, 2019 12:40 pm
jeffyscott wrote:
Sat Nov 16, 2019 12:30 pm


Opposite here, at least with regard to the results from the screening. I am assuming that for corporate bonds, like CDs, Fidelity ignores commission in calculating the YTM that they list in the table of screening results. On Schwab the listed YTM in the table of results is net of commission, this makes it much easier to compare the choices and also means you can directly compare new issues (which for CDs have no commission at either brokerage) to secondaries in a single table.

For me the $10 minimum just means don't buy less that $10,000 worth on Schwab.
Fidelity shows the YTM on order entry review screen; at least the last time I used it they did.

Yes, but this means that you can see it for only one bond or CD at a time and that only after going through another step or two, as if you are buying. With Schwab it can be seen and all can be compared by simply looking at the online table of results.
i am correcting my post.
Fidelity bond screen shows YTM for every bond listed on the bond screen.
They also show yield to worst/yield to sink for every bond listed.
Yes, but this is YTM ignoring the commission. If you continue to the confirmation page, you will see a different, lower YTM that is net of commission... assuming that they have not changed things.
Yes, when you go to the order confirmation page it does reflect the commission, as it should.
I believe on Schwab’s screen page, it does not reflect any commission, just like Fidelity....correct me if it does include commissions.

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Wiggums
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Re: Charles Schwab or Fidelity?

Post by Wiggums » Sun Nov 17, 2019 9:13 am

I don’t have a solo401k. It would be helpful if you change the title to include “for a solo401k“

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jeffyscott
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Re: Charles Schwab or Fidelity?

Post by jeffyscott » Sun Nov 17, 2019 9:15 am

bondsr4me wrote:
Sun Nov 17, 2019 8:49 am
Yes, when you go to the order confirmation page it does reflect the commission, as it should.
I believe on Schwab’s screen page, it does not reflect any commission, just like Fidelity....correct me if it does include commissions.
No, that is the difference that I was trying to point out, Schwab's screen page does reflect the commission cost in the listed YTM.

Here's one place where this was "discovered" and confirmed:
viewtopic.php?f=10&t=246209&p=3985424#p3985622
Time is your friend; impulse is your enemy. - John C. Bogle

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SlowMovingInvestor
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Re: Charles Schwab or Fidelity?

Post by SlowMovingInvestor » Sun Nov 17, 2019 9:53 am

mptfan wrote:
Sun Nov 17, 2019 7:29 am
MichCPA wrote:
Fri Nov 15, 2019 11:30 am
So is it fair to say that the current Boglehead consensus to use VG funds, but not hold them in VG.
No.
The current boglehead consensus is the absence of consensus :)

I personally think holding VG (and occasional iShares) ETFs (not MFs) at another brokerage, preferably Fido, is the best approach.

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ruralavalon
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Re: Charles Schwab or Fidelity?

Post by ruralavalon » Sun Nov 17, 2019 10:19 am

SlowMovingInvestor wrote:
Sun Nov 17, 2019 9:53 am
mptfan wrote:
Sun Nov 17, 2019 7:29 am
MichCPA wrote:
Fri Nov 15, 2019 11:30 am
So is it fair to say that the current Boglehead consensus to use VG funds, but not hold them in VG.
No.
The current boglehead consensus is the absence of consensus :)

I personally think holding VG (and occasional iShares) ETFs (not MFs) at another brokerage, preferably Fido, is the best approach.
There is no consensus.

There is a lot of difference of opinion based on personal preferences (for example: do you want to use ETFs or traditional mutual funds?; do you care about transfer bonuses?; do you want banking services like a credit card or cash management?; do you want a local customer service office?; and whose website do you like most?)

My personal preference is to use Vanguard mutual funds in accounts with Vanguard.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

sksbog
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Re: Charles Schwab or Fidelity?

Post by sksbog » Sun Nov 17, 2019 11:59 am

ColoRetiredGirl wrote:
Fri Nov 15, 2019 10:57 am
I am with Schwab and very happy with their customer service. With this said, interview both companies and make a decision which one best fits your investment goals.
+1

I have been happy with Schwab for years.

On another note, I didn’t had good customer experience with fidelity, through work. And I see on and off “record keeping fee” in my statement which their customer service didn’t had good explanation.

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