Will Vanguard give basic advice?

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Kelly
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Will Vanguard give basic advice?

Post by Kelly » Mon Nov 21, 2016 9:29 am

Folks

I'm an independent fee-only (no sales) CFP. I get a lot of calls from brokerage "refugees". I always help them set up an account at Vanguard and create the portfolio. I might charge 1.5 hrs for this. I take asset location (what to put in IRA, Roth taxable, etc) into account as well as allocation.

I don't want folks to pay me for something they can get for nothing at Vanguard. Will Vanguard do this? Has anyone received this type of help from them?

Thanks

Kelly

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JamesSFO
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Re: Will Vanguard give basic advice?

Post by JamesSFO » Mon Nov 21, 2016 9:40 am

They used to offer this a bit more explicitly for a fix fee (free to Flagship) it was called Ask a CFP or something like that.

I think now it's basically folded into their portfolio advice solutions for ~30 basis points.

RadAudit
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Re: Will Vanguard give basic advice?

Post by RadAudit » Mon Nov 21, 2016 9:40 am

Look here. https://investor.vanguard.com/investing/benefits/

Depends on the amount. And at some point, there is some advice. It is not free; but, it is included. How much is included depends on how much advice you need.

They also do financial planning. And, that is not free; but, it is low cost.

https://investor.vanguard.com/financial ... l-planning
Last edited by RadAudit on Mon Nov 21, 2016 9:46 am, edited 1 time in total.
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Spewin
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Re: Will Vanguard give basic advice?

Post by Spewin » Mon Nov 21, 2016 9:42 am

Unless you have $50,000+ with them, they will not. https://investor.vanguard.com/advice/personal-advisor

Even then, they don't do more than asset allocation and making one of those pretty are you on track for retirement presentations, that I'm sure you also have some software for. I bet they spend 1.5 hrs including the presentation to you, but it is free and you can decide to continue with them and the PAS for 30bps.

When I did it with my dad and asked them about Roth conversions, SS claiming, and taxation issues they often gave me incorrect answers and their software could not simulate it. I don't know if you provide that level of detail in your 1.5 hrs.

pkcrafter
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Re: Will Vanguard give basic advice?

Post by pkcrafter » Mon Nov 21, 2016 10:25 am

Kelly, I don't think you should be sending new investors or "refugees" to Vanguard for CFP advice. For many a 1-1/2 hr. sit down with a fee only advisor who recommends Vanguard is probably worth it. If you are going to send new investors anywhere, send them here. :happy

Paul
Last edited by pkcrafter on Mon Nov 21, 2016 12:43 pm, edited 1 time in total.
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TIAX
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Re: Will Vanguard give basic advice?

Post by TIAX » Mon Nov 21, 2016 10:26 am

Kelly wrote:Folks

I'm an independent fee-only (no sales) CFP. I get a lot of calls from brokerage "refugees". I always help them set up an account at Vanguard and create the portfolio. I might charge 1.5 hrs for this. I take asset location (what to put in IRA, Roth taxable, etc) into account as well as allocation.

I don't want folks to pay me for something they can get for nothing at Vanguard. Will Vanguard do this? Has anyone received this type of help from them?

Thanks

Kelly
You don't want input into your clients' asset allocations?

jnet2000
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Re: Will Vanguard give basic advice?

Post by jnet2000 » Mon Nov 21, 2016 10:57 am

They have this information on their website. I just showed it to my wife. I'm also fairly certain Vanguard helps with this for new clients bringing in assets to them.
"You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing" Warren Buffet

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