Which financial institution stores most of your net worth?

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porcupine
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Which financial institution stores most of your net worth?

Post by porcupine »

Ignoring the portion that is your own home (plus other real estate property), which financial institution currently holds the biggest chunk of your assets?

I would assume that a 100% Boglehead should ideally respond Vanguard. I confess I would not meet that criterion. For me, the answer is Schwab.
The Wizard
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Post by The Wizard »

Many Bogleheads who are still employed do not have Vanguard as a complete option within their company tax-sheltered retirement plans.
While I use VG for my IRA and after-tax $$, I have TIAA-CREF for the bulk of my assets.
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greenspam
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Post by greenspam »

same here, tiaa-cref for my 403(b) and DW's trad IRA (about 85% of our retirement funds); vanguard for my roth IRA and SEP IRA (15% of retirement funds).
as always, | peace, | greenie.
hlfo718
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Post by hlfo718 »

For me is Vanguard but willing to move if some other firm is better than Vanguard. No such company at this moment.
letsgobobby
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Post by letsgobobby »

Vanguard, about 65%.
Fidelity, about 25%.
others, including Schwab and our banks, about 10%.
dbr
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Post by dbr »

Vanguard 0%
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dphmd
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Post by dphmd »

Vanguard 80%
Fidelity 20%

(Of course, half of what I have at Fido is with Vanguard funds.)
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allsop
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Post by allsop »

Split between different institutions to avoid a single point of failure. Alas, this costs more, but what to do?
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englishgirl
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Post by englishgirl »

My 401k provider, Suntrust.

As soon as I leave my job and rollover to an IRA, it will be Vanguard.
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Post by Elemental »

Sadly, I have more money in my bank account than I have invested. My 1-year emergency fund is bigger than the amount I have at Vanguard or in my 401k.

Bank account 50%
Vanguard 25%
401k 25%
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JupiterJones
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Post by JupiterJones »

Mostly Fidelity with a bit of Schwab thrown in.

I plan to move some or all of the Fidelity into Vanguard in about two or three months.

JJ
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Post by sschullo »

Vangard 85%, Dodge and Cox and Loomis Sayles 15%
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Taylor Larimore
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Why we have been 100% in Vanguard.for 25 years.

Post by Taylor Larimore »

porcupine wrote:Ignoring the portion that is your own home (plus other real estate property), which financial institution currently holds the biggest chunk of your assets?
We are 100% Vanguard. Here's why:

1. One familiar statement.

2. Less paperwork.

3. Easier tax preparation.

5. Avoidance of low-balance and other small fees.

6. It's much easier to learn only one company's policies, fees, regulations, etc.

7. With fewer but larger holdings it becomes possible to qualify for premium services (Flagship, Voyager, Admiral shares).

8. Rebalancing and exchanges are easier.

9. Eliminates a brokerage.

10. A loyal customer is appreciated and usually treated better.

11. More free time.

12. In event of death or disability, it will be much easier for others.

13: The reasurance that comes from knowing that we are in a very low-cost, strong, customer-oriented company.
"Simplicity is the master key to financial success." -- Jack Bogle
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Sally
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Post by Sally »

I embrace the boglehead simplicity portfolio philosophy BUT, much as I would like to consolidate in one brokerage, I am reluctant (probably paranoid!) to have too many eggs in one basket and am very concerned about safety and good customer service thus:

USAA =42%
Fidelity =10%
Scottrade =14%
Dodge&Cox = 8%
TSP = 8%
NFCU = 15.5%
Remaining is in local banks (for convenience).

Except for the D&C, it is index funds (with low ers) & cds but not VG. Plan is to get it down to 4 basic funds.

Hmmm, guess this means I am not boglehead?? I like the philosophy but in my way of thinking, it doesn't mean being married or obligated to VG or any other particular brokerage firm. Who knows! LOL

Regards,
Sally
paulsiu
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Post by paulsiu »

It's split between my 401K and vanguard. I haven't change jobs in a very long time so they are fairly even.

Paul
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Post by sscritic »

Vanguard 56.2%
TIAA-CREF 35.3%
Bank of America 4.7%
Other* 3.8%

* other banks, life insurance companies, other mutual fund companies, credit unions
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Post by dbr »

Sally wrote:I embrace the boglehead simplicity portfolio philosophy BUT, much as I would like to consolidate in one brokerage, I am reluctant (probably paranoid!) to have too many eggs in one basket and am very concerned about safety and good customer service thus:

USAA =42%
Fidelity =10%
Scottrade =14%
Dodge&Cox = 8%
TSP = 8%
NFCU = 15.5%
Remaining is in local banks (for convenience).

Except for the D&C, it is index funds (with low ers) & cds but not VG. Plan is to get it down to 4 basic funds.

Hmmm, guess this means I am not boglehead?? I like the philosophy but in my way of thinking, it doesn't mean being married or obligated to VG or any other particular brokerage firm. Who knows! LOL

Regards,
Sally
It is essential to distinguish between where one does business buying and selling investments and what investments one buys and sells. One can be "with" Vanguard while investing at "other broker" by buying Vanguard ETF's and Funds at "other broker." One can also be "at" Vanguard while holding anything but Vanguard at Vanguard Brokerage Services.

To be a Boglehead requires neither being "with" Vanguard nor "at" Vanguard. However, it simply makes sense that if one wants to own Vanguard mutual funds and one has the freedom to pick the place "at" which one holds them (not the case in most employer retirement plans) then one should open an account at Vanguard to hold those funds. If one has a more complicated array of investments, not all Vanguard, it may or may not be sensible as to what investments do and don't go to Vanguard. It is certainly very different to invest at Vanguard Mutual Fund from investing at Vanguard Brokerage Services. The latter may exist only as a convenience, and, as at many fund companies, does not sell Vanguard Mutual Funds or, respectively, the funds of that company.

If the situation involves rollovers from 401K's to an IRA to place investments "at" Vanguard, it is not necessarily a given that the IRA rollover is the best choice. Some 401K plans are worth staying in and may have fund choices better than any Vanguard fund. Rollover IRA's may involve some issues in non-bankruptcy liability exclusion that need some hard thought and might preclude moving money to Vanguard being a best decision.
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Jake46
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Post by Jake46 »

99% Fidelity 1% Chase (wife's checking account)
Last edited by Jake46 on Fri Feb 25, 2011 12:35 pm, edited 1 time in total.
jeff1949
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Post by jeff1949 »

90% Vanguard for me. It would be 100% if the VG Prime MMF was paying a "reasonable" interest rate but they are not doing that at the moment so 10% is in a Rewards Checking acct. at a local bank currently paying 2.66%
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Post by livesoft »

In order:

WellsFargo - almost 100% Vanguard ETFs
Fidelity - Spartan index funds
TDAmeritrade - almost 100% Vanguard ETFs
Vanguard - 100% Vanguard
TIAA-CREF
Hartford - Ugh!
Last edited by livesoft on Fri Feb 25, 2011 12:39 pm, edited 1 time in total.
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LarryG
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Post by LarryG »

Vanguard 100%
As I read Taylor's reasons for using one institution, I realize that I have just taken for granted all of the advantages.

LarryG
isaidit
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Post by isaidit »

I just turned 30yo so don't have much, but:

$60,000 in index funds at VG
$15,000 emergency fund in an Emigrant HYSA

I combined previous employment 403b's, 401k's, into one place (VG) and things are so much simpler now.
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serbeer
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Post by serbeer »

Fidelity for 401Ks
Ameritrade for IRAs and taxable (I hold a lot of Vanguard funds there, but also other index funds).
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Post by boglebill »

95% Fidelity
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Post by gkaplan »

71% - Vanguard (Roth IRA + Vanguard Admiral Treasury Money Market Fund)

28% - TSP

1% - Ventura County Credit Union (Checking + Savings)
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Post by bearcub »

,,,,,
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nisiprius
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Re: Which financial institution stores most of your net wort

Post by nisiprius »

Half at Vanguard, 1/5 at Fidelity, 1/8 in paper I Bonds in a safe deposit box, 1/20 at TIAA-CREF, and the rest in miscellaneous bank accounts.
porcupine wrote:Ignoring the portion that is your own home (plus other real estate property), which financial institution currently holds the biggest chunk of your assets?
Zen question which I will ask and then ignore. I hold a little Vanguard Total Stock Market Index ETF (VTI) at Fidelity. Where is this bit of my net worth being "stored?" At Fidelity, where my account is? At Vanguard, where VTI is? or at JPMorgan Chase Bank, the "custodians" who actually hold the shares of stock that are "in" VTI?
I would assume that a 100% Boglehead should ideally respond Vanguard.
I would not assume that. Jack Bogle is not a code name for "Vanguard." We don't want to get into dogmatism or anything but I would submit that a buy-and-hold investor in the Fidelity Four-In-One Index Fund is more Bogleheadish than someone who invests in a Vanguard Managed Payout Fund. Or someone who reads and follows Dan Wiener's newsletter recommendations. One could admire Warren Buffett without investing 100% of one's net worth in Berkshire Hathaway.
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Post by manuvns »

most in tiaa, vanguard and fidelity . have 1% with delta and AA airlines and i am worried that it's not keeping up with inflation .
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Post by NAVigator »

80% Vanguard
11% Fidelity
9% PenFed (CD)

My goal is to have it all at Vanguard.

Jerry
"I was born with nothing and I have most of it left."
grberry
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Post by grberry »

For everything:
Employer selected employee plan providers: 71%
Stock dividend reinvestment plan provider chosen by stock company: 1%
My bank: 17% (no stocks/bonds)
Vanguard: 6%
Fidelity: 5%

Where I have a choice of institution:
My bank: 61% (no stocks/bonds)
Vanguard: 21%
Fidelity: 18%
bodan
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Post by bodan »

90% at Vanguard.
10% at a company that a family member works for (he thinks its 100%).
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rob
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Post by rob »

My default is Vanguard... when I can rollover to them e.t.c. but the reality is that I have a chunk elsewhere due to 401K plans, stock options e.t.c.
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centrifuge41
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Post by centrifuge41 »

As a rough guess, without checking balances:
50% Transamerica/Divinvest 401k administrator. But all in Vanguard funds.
30% Vanguard
10% ING Direct
10% Optumhealthbank HSA, but in deposit account and Vanguard mutual fund.
Scraps: Bank of America. Enough to do billpay etc.
manuvns wrote:most in tiaa, vanguard and fidelity . have 1% with delta and AA airlines and i am worried that it's not keeping up with inflation .
That's actually pretty amusing! I do have a lot of miles too, from all the recent 50k and 75k mile signing bonuses, but I don't quite consider them in my asset allocation ;) Maybe after liquidating Delta miles for Amex gift cards though...
Last edited by centrifuge41 on Fri Feb 25, 2011 3:28 pm, edited 1 time in total.
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serbeer
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Post by serbeer »

bodan wrote:90% at Vanguard.
10% at a company that a family member works for (he thinks its 100%).
This is really funny!
shoetrip
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Post by shoetrip »

I think it's foolish to keep all of ones financial assets in one firm;u diversify investments so u may as well diversify firms holding investments.

Vanguard
Fidelity
HSBC
Schwab
Chuck T
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Post by Chuck T »

Retired
90% Vanguard
10% BB&T Bank & Transportation Federal Credit Union
Chuck | Past Performance Is Just That - bob | For info on the SC LowCountry & Savannah GA Area Bogleheads contact me at chucktanner46@gmail.com
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Post by JDCPAEsq »

shoetrip wrote:I think it's foolish to keep all of ones (sic) financial assets in one firm
I guess I'm one of those fools - 92% in Vanguard with the balance in I Bonds.
John
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Post by Shawn »

Approximately (and not including holdings in my DBP pension) ...

40% Fidelity (Employer Retirement Accounts)
35% Vanguard
10% Mairs and Power
05% American Century (High Yield CA Municipal Bond Fund)
10% Banks (local credit union, Capital One, ING)

When I retire in a year, I'll likely drop my American Century account and move the assets to Vanguard. I may or may not roll some or all of my employer retirement accounts from Fidelity into an IRA at Vanguard.
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Post by partisan »

12% Vanguard
18% ING
70% Fidelity
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Post by Bulldawg »

Lincoln National 403b = 20 %
Vanguard =10%
Fido= 70%

It would be a much higher % in Vanguard, but many years ago when I was setting up my company's SIMPLE IRA, Vanguard either didn't do SIMPLEs or gave me the impression they didn't want to fool with it.
So Hello Fido and I've been pleased with their Spartan Index funds and web site.
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Post by scrabbler1 »

boglebill wrote:95% Fidelity
Same here, with 5% at Dreyfus and about 0.2% at my local bank.
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Post by nhdblfan »

Fidelity 85%
Vanguard 5 %
Wells Fargo 10%

Also have some cash, as well as gold,sliver coins in bank sdb, not counted in above %.
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Post by gkaplan »

shoetrip wrote:I think it's foolish to keep all of ones financial assets in one firm;u diversify investments so u may as well diversify firms holding investments.
I guess I'm foolish, then:

71% - Vanguard

28% - TSP

1% - Credit Union


By the way, congratulations on your efforts to save broadband width.
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bru
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Post by bru »

Approximately
52% Vanguard
45% Fidelity
2% TRP
1% DWS

The Fidelity portion is a rollover IRA from a 401(k) they held. In the past few years I've moved some to Vanguard but I really should consolidate more.
Default User BR
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Re: Which financial institution stores most of your net wort

Post by Default User BR »

porcupine wrote:Ignoring the portion that is your own home (plus other real estate property), which financial institution currently holds the biggest chunk of your assets?
Approximately 1/2 at Wells Fargo. A bit less than that with ING 401(k). The rest at banks and TDAmeritrade.
porcupine wrote:I would assume that a 100% Boglehead should ideally respond Vanguard.
It's not necessary to have your money AT Vanguard to hold Vanguard products. I don't see any connection with being a Boglehead. For that matter, I don't see holding non-Vanguard products as a determiner.



Brian
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Re: Why we have been 100% in Vanguard.for 25 years.

Post by rec7 »

Taylor Larimore wrote:
porcupine wrote:Ignoring the portion that is your own home (plus other real estate property), which financial institution currently holds the biggest chunk of your assets?
We are 100% Vanguard. Here's why:

1. One familiar statement.

2. Less paperwork.

3. Easier tax preparation.

5. Avoidance of low-balance and other small fees.

6. It's much easier to learn only one company's policies, fees, regulations, etc.

7. With fewer but larger holdings it becomes possible to qualify for premium services (Flagship, Voyager, Admiral shares).

8. Rebalancing and exchanges are easier.

9. Eliminates a brokerage.

10. A loyal customer is appreciated and usually treated better.

11. More free time.

12. In event of death or disability, it will be much easier for others.

13: The reasurance that comes from knowing that we are in a very low-cost, strong, customer-oriented company.
No local back or credit union?
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DaleMaley
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Post by DaleMaley »

100% Vanguard for......

-me
-my sister
-my sister-in-law
-my sister-in-law
-my mother
-my mother-in-law

:D
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VictoriaF
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Post by VictoriaF »

My cranium,

Victoria
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Taylor Larimore
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Overlooked bank accounts

Post by Taylor Larimore »

Rec7:
Taylor: No local back or credit union?
To be accurate, my wife and I each have a small checking account at local banks.
"Simplicity is the master key to financial success." -- Jack Bogle
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Post by scubadiver »

Vanguard has most of my investments (>90%) and Wells Fargo owns my home.
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