I have been a Vanguard Customer for over 20 years and am contemplating switching to a more suitable alternative.
I am currently on hold with Vanguard phone support. I am in the process of doing a fund transfer from my Vanguard account to a chosen charity that has an account at Fidelity. I have filled out the forms and it is taking a several weeks to go through. There is a one week delay as I made an error on the originally filed form. After waiting 45 minutes, I was able to speak to a representative and was informed it is "in process" and will take a few more days to go through.
Our current financial relationships are:
Banking: Ally - Direct deposit from employer. Auto bill pay set up.
Employer 401K: Fidelity - Bulk of retirement assets. Contributing maximum, including post tax contribution and Roth conversion.
Credit Cards: Visa (Costco) and Discover
Vanguard:
His Roth IRA
Her Roth IRA
His Inherited IRAs (2X)
Joint Brokerage Account
I have read much of the "Fidelity as a one stop shop" thread and I find it appealing to transfer all Vanguard assets to Fidelity to simplify our investments.
I have also read that Schwab would be a good alternative to Vanguard, as well.
Any recommendations to simplify and improve customer service?
Changing Brokerage: Advice Please
Re: Changing Brokerage: Advice Please
Since you have accounts already at Fidelity, I see no reason why you would choose a different brokerage unless you dislike Fidelity as well.
I have several different brokerages including Fidelity. Fidelity is fine.
I have several different brokerages including Fidelity. Fidelity is fine.
Re: Changing Brokerage: Advice Please
I use Fidelity and Schwab. I really like having things streamlined to minimize hassle and make rebalancing easy.
One note is that Fidelity has an excellent credit card that pays 2% cash back (if deposited to a Fidelity account, like your money market account). For spending in the US, there is no better deal. Spending abroad ain't so rich because they charge a foreign transaction fee.
One note is that Fidelity has an excellent credit card that pays 2% cash back (if deposited to a Fidelity account, like your money market account). For spending in the US, there is no better deal. Spending abroad ain't so rich because they charge a foreign transaction fee.
The mightiest Oak is just a nut who stayed the course.
Re: Changing Brokerage: Advice Please
+100LeeMKE wrote: ↑Tue Sep 21, 2021 12:06 pm I use Fidelity and Schwab. I really like having things streamlined to minimize hassle and make rebalancing easy.
One note is that Fidelity has an excellent credit card that pays 2% cash back (if deposited to a Fidelity account, like your money market account). For spending in the US, there is no better deal. Spending abroad ain't so rich because they charge a foreign transaction fee.
I really like the 2% cash back; goes directly into our brokerage account.
Re: Changing Brokerage: Advice Please
Thanks for the helpful replies.
I have not had much interaction with Fidelity, as related to my employers 401K, but this is primarily because everything is set up well and automated. There has been no interaction required from me since they set up automated after tax 401K deposits and conversion to Roth 401K. I view this as a very good thing.
I wasn't aware of the Fidelity credit card deal. I will look into that option.
I have not had much interaction with Fidelity, as related to my employers 401K, but this is primarily because everything is set up well and automated. There has been no interaction required from me since they set up automated after tax 401K deposits and conversion to Roth 401K. I view this as a very good thing.
I wasn't aware of the Fidelity credit card deal. I will look into that option.
Re: Changing Brokerage: Advice Please
One thing that did happen to me recently was making a gift transfer to another person that Fidelity wanted a medallion signature or go to their office. Going to the office was simple and they were very efficient and very nice. After filing the paper the transfer was initiated the same afternoon.
Having a local office can be very helpful.
And they didn't ask me to meet with an advisor either.
I have been with Fidelity for one account or another for about forty years now as my employer was using them for ESPP and options.
They also gave me a big pile of frequent flyer miles for transferring in some money, back when miles tended to be worth something.
Having a local office can be very helpful.
And they didn't ask me to meet with an advisor either.
I have been with Fidelity for one account or another for about forty years now as my employer was using them for ESPP and options.
They also gave me a big pile of frequent flyer miles for transferring in some money, back when miles tended to be worth something.