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Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 1:53 pm
by jjunk
I'm considering a move from Fidelity to Merrill Edge. Although I've generally been happy with Fidelity, in an attempt to simplify, I've decided to move most of my assets into Vanguard Balanced Index (VBIAX). I'm 60/40 today and this makes it a one stop shop. Fidelity charges a $75 transaction fee for the fund but based on what I can see so far, Merrill seems to offer the fund as a no load fund. I cant tell if they charge a transaction fee like Fidelity on the site however. Can a Merrill customer clarify for me if VBIAX can be purchased without a fee or load?

If I move accounts I wanted to make sure it was worth the hassle. Since I bank with Bank of America today, I'll get some decent perks on my credit card and they're offering a transfer bonus for the new accounts. Seems like a win/win to me. Are there any other things I should be concerned with on Merrill? Seems like they have a generally good reputation based on past posts I've read here. In case anyone is wondering, I had a really horrible experience with Vanguard years ago and wont do business with them because of it. Thats why Vanguard isnt an option in this case.

Thanks in advance.

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:01 pm
by scornovaca
ME would charge a fee of $19.95 for purchasing that fund. I currently hold VBIAX there to maintain enough balance to qualify for Platinum Preferred Rewards.

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:12 pm
by jjunk
Got it. Thanks for the quick reply. Is that a one time fee or is it charged on every purchase?

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:18 pm
by scornovaca
Every purchase I believe, doesn't apply to dividend reinvestment. I don't recall if a fee is paid to sell or not -- I haven't had to at ME.

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:21 pm
by Soon2BXProgrammer
what about using a different fund that is available as an ETF?

buying mutual funds at places other then the issuer, typically have fees.

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:22 pm
by jjunk
Soon2BXProgrammer wrote: Fri Nov 13, 2020 2:21 pm comment removed.
I didnt realize there was an ETF for it. What is the ticker? I dont see one online but I could just be missing it.

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:24 pm
by Soon2BXProgrammer
jjunk wrote: Fri Nov 13, 2020 2:22 pm
Soon2BXProgrammer wrote: Fri Nov 13, 2020 2:21 pm comment removed.
I didnt realize there was an ETF for it. What is the ticker? I dont see one online but I could just be missing it.
there isn't... if you don't want to hold mutual funds at the issuer, ETF's are the "in general" answer. The question is are you married to this fund? if so, you probably going to be SOL and have to pay fees at most places.

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:28 pm
by jjunk
Soon2BXProgrammer wrote: Fri Nov 13, 2020 2:24 pm
jjunk wrote: Fri Nov 13, 2020 2:22 pm
Soon2BXProgrammer wrote: Fri Nov 13, 2020 2:21 pm comment removed.
I didnt realize there was an ETF for it. What is the ticker? I dont see one online but I could just be missing it.
there isn't... if you don't want to hold mutual funds at the issuer, ETF's are the "in general" answer. The question is are you married to this fund? if so, you probably going to be SOL and have to pay fees at most places.
I currently use ETFs to make my portfolio makes sense. I was just trying to simplify into one fund across all accounts if I could. Looks like what I want to do isnt possible unless I move back to Vanguard which I dont want to do. Thanks for the info.

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:35 pm
by Soon2BXProgrammer
jjunk wrote: Fri Nov 13, 2020 2:28 pm
Soon2BXProgrammer wrote: Fri Nov 13, 2020 2:24 pm
jjunk wrote: Fri Nov 13, 2020 2:22 pm
Soon2BXProgrammer wrote: Fri Nov 13, 2020 2:21 pm comment removed.
I didnt realize there was an ETF for it. What is the ticker? I dont see one online but I could just be missing it.
there isn't... if you don't want to hold mutual funds at the issuer, ETF's are the "in general" answer. The question is are you married to this fund? if so, you probably going to be SOL and have to pay fees at most places.
I currently use ETFs to make my portfolio makes sense. I was just trying to simplify into one fund across all accounts if I could. Looks like what I want to do isnt possible unless I move back to Vanguard which I dont want to do. Thanks for the info.
you can probably get away with two funds.. total stock and total bond to simulate the balanced fund.. and that gives you the flexibility to decide what to tell and when and what to put in various accounts.

I have been trying to simlify for my wife in case i get hit by the bus. We hold VT (Total world stocks) in all of our accounts, and the various bond funds/etfs/etc based on what we have available and where.

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:40 pm
by jjunk
Soon2BXProgrammer wrote: Fri Nov 13, 2020 2:35 pm you can probably get away with two funds.. total stock and total bond to simulate the balanced fund.. and that gives you the flexibility to decide what to tell and when and what to put in various accounts.

I have been trying to simlify for my wife in case i get hit by the bus. We hold VT (Total world stocks) in all of our accounts, and the various bond funds/etfs/etc based on what we have available and where.
Yup, thats what we have today actually. I too am planning on getting hit by a bus and was trying to make it as simple as possible. :sharebeer

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:48 pm
by sfmurph
Take a look at iShares Core Moderate Allocation (AOM). It's a 60/40 ETF offered by iShares. The ER is 0.25%, so a little higher that the Vanguard mutual fund. But you'd likely make that back by using a BofA Preferred Rewards credit card.

Re: Buying Vanguard funds on Merrill Edge

Posted: Fri Nov 13, 2020 2:54 pm
by jjunk
sfmurph wrote: Fri Nov 13, 2020 2:48 pm Take a look at iShares Core Moderate Allocation (AOM). It's a 60/40 ETF offered by iShares. The ER is 0.25%, so a little higher that the Vanguard mutual fund. But you'd likely make that back by using a BofA Preferred Rewards credit card.
Thanks. I'll take a look at this one. I guess I should have realized some of these types of ETFs would exist.