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T. Rowe Price brokerage account

Posted: Fri Oct 05, 2018 9:05 pm
by bob1234
I was wondering if anyone had any experience with the T. Rowe Price brokerage account. My mom currently has Traditional IRA with T. Rowe Price and Roth IRA and taxable with Vanguard. We both like the idea of having investments split across two different companies, just for security reasons (account gets hacked, etc.). The T. Rowe Price account is mutual fund only, but I don't really like the bond funds there as much, so was thinking about opening a brokerage account. Anyone have any experiences to share? I was also wondering which ETFs are no-transaction fee. In particular, interested in iShares AGG.

Other option would be to hold the bonds at Vanguard. Wondering how easy it is to transfer money back and forth between IRA accounts for rebalancing.

Re: T. Rowe Price brokerage account

Posted: Fri Oct 05, 2018 9:22 pm
by gwrvmd
My investments are primarily at Vanguard but I have had a mutual fund at T Rowe Price for 20 years. They are one of the "Good Guys" but their fees are not as low as Vanguard........Gordon

Re: T. Rowe Price brokerage account

Posted: Fri Oct 05, 2018 10:17 pm
by ThisTimeItsDifferent
Apparently, individual bonds can only be purchased by phone not online at the T Rowe Price brokerage

Re: T. Rowe Price brokerage account

Posted: Sat Oct 06, 2018 12:11 am
by 22twain
I have an ordinary (taxable) brokerage account and a brokerage Roth IRA account at TRP, both containing the "standard" Vanguard 3-fund portfolio ETFs. I started at TRP with their mutual funds about ten years ago when I received an inheritance. When I found out about Bogleheads and the 3-fund portfolio, it was simpler for me to set up TRP brokerage accounts and gradually migrate the money to ETFs, than to sell everything and move it to Vanguard.

TRP uses Pershing as its brokerage platform. If you have more than $250K in total assets at TRP (and therefore qualify for Select Client Services), or you make more than 30 trades per year, the commission is $9.95 per trade. Otherwise it's $19.95. I have more than $250K and make only five or so trades per year, so I don't mind the commissions.

They also have (again via Pershing) the Fundvest no-commission ETF platform which apparently started last year. I know nothing about it except what I've seen in the press releases that a quick Google search turned up. In particular, I haven't found a list of available ETFs yet.

Re: T. Rowe Price brokerage account

Posted: Sat Oct 06, 2018 3:59 am
by stlutz
Aren't T Rowe Price mutual funds on the NTF list at most brokerages (e.g. Fidelity, Schwab etc.)? Those are much less expensive brokerage platforms overall.