Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
Topic Author
bws600
Posts: 2
Joined: Wed Jan 12, 2022 11:31 am

Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by bws600 »

I've had an E-Trade account for many years that I've actively traded stocks in; still have positions in about 15 companies. I've decided I'm not a good trader, and am in the process of moving to a "Boglehead" mindset. I'd still like to keep the stocks I have in the etrade account; they are solid companies, I don't need the $ and don't want to trigger Cap gains.

I have a large chunk of cash I'd like to start my boglehead portfolio with.

Are there any additional expenses with the suggested Boglehead ETF's/funds if I were to just do this within my E-Trade account; or am I better off opening a Fidelity/Vanguard account for my Boglehead portfolio?

I'd also like to limit the number of brokerage accounts I have to keep things simple. I already have an account with my company 401k provider, a Schwab account with a friend/broker who is also a customer that i will still contribute some $ to; treasury direct account for iBonds; and a 529 account with the state...
User avatar
VictorStarr
Posts: 269
Joined: Sat Jan 04, 2020 10:13 pm
Location: Texas

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by VictorStarr »

bws600 wrote: Wed Jan 12, 2022 12:20 pm
Are there any additional expenses with the suggested Boglehead ETF's/funds if I were to just do this within my E-Trade account; or am I better off opening a Fidelity/Vanguard account for my Boglehead portfolio?
If you are happy with your E*Trade experience, stay with E*Trade. You can trade ETFs with zero fees. If you prefer mutual funds, E*Trade has $20 fee (Fidelity and Schwab MF fees are higher - $75).
drk
Posts: 2784
Joined: Mon Jul 24, 2017 10:33 pm
Location: Overlooking Elliott Bay

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by drk »

VictorStarr wrote: Wed Jan 12, 2022 3:20 pm If you prefer mutual funds, E*Trade has $20 fee (Fidelity and Schwab MF fees are higher - $75).
E*Trade actually offers many Vanguard mutual funds on their No Transaction Fee list.

OP, plenty of Bogleheads use E*Trade. Check out the E*Trade wiki entry for more details.
sycamore
Posts: 3582
Joined: Tue May 08, 2018 12:06 pm

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by sycamore »

ETrade is fine for a Boglehead portfolio. If you prefer mutual funds, note that many/most Vanguard mutual funds are on ETrade's no-load/no-transaction-fee list. Main thing to be aware of with mutual funds at ETrade is their $49.99 "Early redemption fee for no-load, no transaction fee for Mutual Funds". See https://us.etrade.com/what-we-offer/pricing-and-rates

If you prefer ETFs, they can be bought/sold for no transaction fee too.

Nothing particularly great or bad about ETrade. Recently they've posted online notices of long response time for customer service requests. Similar to other brokerages.

Edited to add: ninja'd by drk!
User avatar
VictorStarr
Posts: 269
Joined: Sat Jan 04, 2020 10:13 pm
Location: Texas

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by VictorStarr »

drk wrote: Wed Jan 12, 2022 3:30 pm
VictorStarr wrote: Wed Jan 12, 2022 3:20 pm If you prefer mutual funds, E*Trade has $20 fee (Fidelity and Schwab MF fees are higher - $75).
E*Trade actually offers many Vanguard mutual funds on their No Transaction Fee list.

OP, plenty of Bogleheads use E*Trade. Check out the E*Trade wiki entry for more details.
Thank you for correction, I did not know that E*Trade offers a number of no transaction Vanguard mutual funds.
123
Posts: 8124
Joined: Fri Oct 12, 2012 3:55 pm

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by 123 »

If you're happy with E-Trade no reason not to stay if you can get anything you want with no (or low) transaction fees/commissions. My only concern would be potential increases in fees at some point due to the 2020 acquisition of E-Trade by Morgan Stanley.
The closest helping hand is at the end of your own arm.
Tool-Time
Posts: 90
Joined: Sat Mar 09, 2019 8:59 am

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by Tool-Time »

I did not like ETrade at all, I much prefer Fidelity and just moved wife’s 401K over to a Fid IRA.
SlowMovingInvestor
Posts: 2921
Joined: Sun Sep 11, 2016 11:27 am

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by SlowMovingInvestor »

I've had an excellent experience at Etrade, but if there was a choice or I wanted to consolidate in one place, I'd go with Fido.

One advantage at Fido is that they don't charge for sale of TF funds. So if you want to sell some funds that are TF at both places, Fido will be cheaper.

Fido also makes it easier to select specific lots for selling. Etrade allows it, but it's a bit of a pain.
Topic Author
bws600
Posts: 2
Joined: Wed Jan 12, 2022 11:31 am

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by bws600 »

Thank you all for the constructive feedback; sounds like I'm ok staying with E-Trade for now & just stay on the lookout for changes related to the Morgan Stanley acquisition. Thanks again!
livesoft
Posts: 78761
Joined: Thu Mar 01, 2007 8:00 pm

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by livesoft »

There must be something wrong with E*Trade if someone who has "had an E-Trade account for many years" has to ask others about E*trade. That alone is a good reason to switch.
Wiki This signature message sponsored by sscritic: Learn to fish.
User avatar
JoMoney
Posts: 12751
Joined: Tue Jul 23, 2013 5:31 am

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by JoMoney »

I haven't used E-Trade, but I would consider it one of the big reputable brokers I wouldn't have a problem being at.
E-Trade is among the few (that also include Vanguard, Fidelity, Schwab) that I've noted as having made a stated policy with regard to reimbursing clients for certain types of electronic fraud (provided the customer takes reasonable measures in ensuring account security.)
viewtopic.php?f=10&t=355944

Currently there is no law that requires brokers to do that, there is a "Reg E" that provides legal protections from certain types of theft through ACH and debit cards, but that doesn't cover other types of fraud that a brokerage account can be vulnerable to (like illegitimate trades, or securities transfer.)
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
illumination
Posts: 1867
Joined: Tue Apr 02, 2019 6:13 pm

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by illumination »

Having both, I would definitely recommend Fidelity over E*Trade. I'm leaving my E*Trade account. They made some minor screw ups that caused a few headaches and happy to leave. Just not very good customer service, really felt like the reps weren't well trained. Not awful, I've had worse.

I would though recommend Schwab over Fidelity.

My experience by rank:

1) Schwab
2) Fidelity
3) E trade
4) Wells Fargo
5) Vanguard
User avatar
Makaveli
Posts: 854
Joined: Mon May 19, 2014 11:18 pm

Re: Is E-Trade OK for a Boglehead portfolio or move to Fidelity?

Post by Makaveli »

Currently at E-Trade, totally fine for a boglehead portfolio.
Post Reply