No more TDA Apex?

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ICF
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No more TDA Apex?

Post by ICF » Sat Jan 13, 2018 4:53 pm

I was comparing brokerage fees on TDA's website and didn't see Apex listed even after logging in. It appears they quietly dropped it, perhaps in November given the date of their latest fee disclosure sheet. If so, yet another reason after the no commission ETF changes to move on.

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jhfenton
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Re: No more TDA Apex?

Post by jhfenton » Sat Jan 13, 2018 7:10 pm

All reference to Apex appears to have been scrubbed from their website. I can't find anything logged in or logged out.

We had accounts there for nearly 20 years, but I only have my HSA there now (through Lively).

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Re: No more TDA Apex?

Post by livesoft » Sat Jan 13, 2018 9:37 pm

If everybody got "promoted" to Apex, then it would not be a reason to move on. :)

I wish Vanguard would save some money and drop the Investor share class and just have Admiral for everybody, but without the higher initial minimums.
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indexfundfan
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Re: No more TDA Apex?

Post by indexfundfan » Sat Jan 13, 2018 10:50 pm

livesoft wrote:
Sat Jan 13, 2018 9:37 pm
If everybody got "promoted" to Apex, then it would not be a reason to move on. :)

I wish Vanguard would save some money and drop the Investor share class and just have Admiral for everybody, but without the higher initial minimums.
Apex clients used to have free full outgoing ACAT. Now, the full outgoing ACAT is listed as $75, the previous non-Apex rate. So it looks like a downgrade, as far as the ACAT fees are concerned.
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Alskar
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Re: No more TDA Apex?

Post by Alskar » Mon Jan 15, 2018 7:49 pm

indexfundfan wrote:
Sat Jan 13, 2018 10:50 pm
Apex clients used to have free full outgoing ACAT. Now, the full outgoing ACAT is listed as $75, the previous non-Apex rate. So it looks like a downgrade, as far as the ACAT fees are concerned.
Thanks for sharing this! I closed my TD Ameritrade accounts a few days after TD "enhanced" their commission-free ETF offerings. I was charged $75 to close one of my three accounts at TD because that account wasn't properly coded as Apex-eligible. They refunded my $75 but now I'm really glad I didn't wait to close my accounts. Saved myself $225 by closing them before they dropped Apex. Nice!
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indexfundfan
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Re: No more TDA Apex?

Post by indexfundfan » Mon Jan 15, 2018 8:22 pm

Alskar wrote:
Mon Jan 15, 2018 7:49 pm
indexfundfan wrote:
Sat Jan 13, 2018 10:50 pm
Apex clients used to have free full outgoing ACAT. Now, the full outgoing ACAT is listed as $75, the previous non-Apex rate. So it looks like a downgrade, as far as the ACAT fees are concerned.
Thanks for sharing this! I closed my TD Ameritrade accounts a few days after TD "enhanced" their commission-free ETF offerings. I was charged $75 to close one of my three accounts at TD because that account wasn't properly coded as Apex-eligible. They refunded my $75 but now I'm really glad I didn't wait to close my accounts. Saved myself $225 by closing them before they dropped Apex. Nice!
Looks like you just made it through the exit door!
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Tanelorn
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Re: No more TDA Apex?

Post by Tanelorn » Mon Jan 15, 2018 9:39 pm

I just spoke to TDA and Apex is NOT discontinued.

I think it's just they redesigned their website and it no longer shows the little word "Apex" wherever it used to. I had Apex status and called to confirm and they said I still have it, which agrees with the lack of fees I've been charged for various recent services I've used in Dec and Jan.

So it's still there and if you had it before, you very likely still have it. For new accounts, they said you'd have to be reviewed to be granted it, but starting with around $25k you could be considered. I think when I joined it was $50k, but it may be lower now. It doesn't sound like this is any different than it was before in terms of the process.

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Re: No more TDA Apex?

Post by indexfundfan » Tue Jan 16, 2018 7:36 am

Tanelorn wrote:
Mon Jan 15, 2018 9:39 pm
I just spoke to TDA and Apex is NOT discontinued.

I think it's just they redesigned their website and it no longer shows the little word "Apex" wherever it used to. I had Apex status and called to confirm and they said I still have it, which agrees with the lack of fees I've been charged for various recent services I've used in Dec and Jan.

So it's still there and if you had it before, you very likely still have it. For new accounts, they said you'd have to be reviewed to be granted it, but starting with around $25k you could be considered. I think when I joined it was $50k, but it may be lower now. It doesn't sound like this is any different than it was before in terms of the process.
That's interesting. Maybe TDA is still keeping Apex but according to their webpage, there is no longer any free full outgoing ACAT, Apex or not:

https://www.tdameritrade.com/pricing/br ... -fees.page
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Re: No more TDA Apex?

Post by overthought » Tue Jan 16, 2018 7:49 am

indexfundfan wrote:
Tue Jan 16, 2018 7:36 am
Tanelorn wrote:
Mon Jan 15, 2018 9:39 pm
I just spoke to TDA and Apex is NOT discontinued.

I think it's just they redesigned their website and it no longer shows the little word "Apex" wherever it used to. I had Apex status and called to confirm and they said I still have it, which agrees with the lack of fees I've been charged for various recent services I've used in Dec and Jan.

So it's still there and if you had it before, you very likely still have it. For new accounts, they said you'd have to be reviewed to be granted it, but starting with around $25k you could be considered. I think when I joined it was $50k, but it may be lower now. It doesn't sound like this is any different than it was before in terms of the process.
That's interesting. Maybe TDA is still keeping Apex but according to their webpage, there is no longer any free full outgoing ACAT, Apex or not:

https://www.tdameritrade.com/pricing/br ... -fees.page
Cynical me: Once Apex is no longer publicly documented they can change/eliminate it without very many customers noticing, and most of those who do notice will be too lazy to jump through the hoops to make a stink.

Meanwhile, a targeted google search turns up this fee schedule, dated 9/17, which still waives the ACAT fee for Apex customers. Maybe that could be useful to somebody until it, too, disappears.

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Re: No more TDA Apex?

Post by Tanelorn » Tue Jan 16, 2018 7:57 am

indexfundfan wrote:
Tue Jan 16, 2018 7:36 am
That's interesting. Maybe TDA is still keeping Apex but according to their webpage, there is no longer any free full outgoing ACAT, Apex or not:

https://www.tdameritrade.com/pricing/br ... -fees.page
That page of fees is not applied to all (Apex?) accounts. I've done several things on that page and not been charged, even in the past week. Not an outgoing ACAT, but wires and other things that appear to have a fee but were waived for Apex customers. They are still being waived for me.

Looks like poor commmunication more than anything, rather than a stealth fee increase. If you have concerns, I invite you to call customer service, ask your questions, and report back.

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Re: No more TDA Apex?

Post by Alskar » Sat Jan 20, 2018 3:43 pm

Tanelorn wrote:
Tue Jan 16, 2018 7:57 am
Looks like poor commmunication more than anything, rather than a stealth fee increase. If you have concerns, I invite you to call customer service, ask your questions, and report back.
Poor communication on the part of TD is a good portion of why I left TD. They never seemed to be able to get their story straight.
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birdog
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Re: No more TDA Apex?

Post by birdog » Sun Jan 21, 2018 7:24 am

Alskar wrote:
Sat Jan 20, 2018 3:43 pm
Poor communication on the part of TD is a good portion of why I left TD. They never seemed to be able to get their story straight.
Where did you move to and are you happy with the new place? I’ve been considering leaving TDA as well (due to their comm-free ETF changes). Considering Vanguard, Fidelity and Merrill Edge but have not researched yet.

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Re: No more TDA Apex?

Post by lazyday » Sun Jan 21, 2018 8:00 am

birdog wrote:
Sun Jan 21, 2018 7:24 am
Considering Vanguard, Fidelity and Merrill Edge but have not researched yet.
I'm thinking of consolidating at one or two brokers, and my short list is the same as yours except it includes Schwab.

I won't use Vanguard as the main broker because I've been unhappy with service, and it costs me $7 to trade non vanguard ETFs. But they have the least conflict of interest with me because they have relatively little incentive to make money off me. Their cash balance risk/return is probably the best. I like their CD and bond trading, though I don't know if it's superior to Schwab or Fidelity. I like VBS for my Traditional IRA which includes bonds and a few brokered CDs.

Fidelity and Schwab both have reputations for excellent service. Trades are cheap at $5. Fidelity might have the best price improvement on order executions (unless perhaps if you also consider Interactive Brokers) and I like some of Schwab's ETFs which trade free at Schwab.

Merrill probably has by far the worst cash balance return, but trades can be free.

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Re: No more TDA Apex?

Post by deltaneutral83 » Sun Jan 21, 2018 10:07 am

lazyday wrote:
Sun Jan 21, 2018 8:00 am
Merrill probably has by far the worst cash balance return, but trades can be free.
Curious, why would one keep cash perpetually in a brokerage account?

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Re: No more TDA Apex?

Post by lazyday » Sun Jan 21, 2018 11:10 am

deltaneutral83 wrote:
Sun Jan 21, 2018 10:07 am
Curious, why would one keep cash perpetually in a brokerage account?
I wouldn't, but if you let the account sit for long, it can pile up.

With Vanguard, even if you check your account frequently, you can let some money accumulate in a good money market fund instead of bothering to reallocate it.

I haven't checked Fidelity or Schwab sweep money market funds in years, they might be ok too.

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Re: No more TDA Apex?

Post by ved » Sun Jan 21, 2018 12:05 pm

indexfundfan wrote:
Tue Jan 16, 2018 7:36 am
Tanelorn wrote:
Mon Jan 15, 2018 9:39 pm
I just spoke to TDA and Apex is NOT discontinued.

I think it's just they redesigned their website and it no longer shows the little word "Apex" wherever it used to. I had Apex status and called to confirm and they said I still have it, which agrees with the lack of fees I've been charged for various recent services I've used in Dec and Jan.

So it's still there and if you had it before, you very likely still have it. For new accounts, they said you'd have to be reviewed to be granted it, but starting with around $25k you could be considered. I think when I joined it was $50k, but it may be lower now. It doesn't sound like this is any different than it was before in terms of the process.
That's interesting. Maybe TDA is still keeping Apex but according to their webpage, there is no longer any free full outgoing ACAT, Apex or not:

https://www.tdameritrade.com/pricing/br ... -fees.page
Can you do a free "partial" transfer of everything in your account, except may be a $1 or so?

lazyday
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Re: No more TDA Apex?

Post by lazyday » Mon Jan 22, 2018 5:44 am

deltaneutral83 wrote:
Sun Jan 21, 2018 10:07 am
Curious, why would one keep cash perpetually in a brokerage account?
Also forgot to mention above:

When buying a CD, transferring cash from a brokerage IRA to a bank has taken as long as 6 weeks for me, maybe longer. A very generous and optimistic average might be as short as 2 weeks. So for $225K CD, even with today's low rates, using Merrill instead of Vanguard will cost over $100 in lost interest.

(2/52) * 225000 * .0125 = 108, minus the pennies Merrill pays and a slight reduction for annualization.

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serbeer
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Re: No more TDA Apex?

Post by serbeer » Mon Jan 22, 2018 3:25 pm

ved wrote:
Sun Jan 21, 2018 12:05 pm
Can you do a free "partial" transfer of everything in your account, except may be a $1 or so?
That's a good question. I have an IRA account with $5 in it (used for annual Roth conversion). Would make no sense to me to pay $75 to get $5 out.

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Earl Lemongrab
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Re: No more TDA Apex?

Post by Earl Lemongrab » Mon Jan 22, 2018 6:07 pm

I'm pretty sure you can leave a small amount there. In fact I recommend that just for the fact that with a full transfer TDA closes the account and removes online access. I know that at Schwab, if all you have is some cash you can transfer it out to a linked bank account (or get a check issued) with any transfer free.
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Alskar
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Re: No more TDA Apex?

Post by Alskar » Mon Jan 22, 2018 8:53 pm

birdog wrote:
Sun Jan 21, 2018 7:24 am
Where did you move to and are you happy with the new place? I’ve been considering leaving TDA as well (due to their comm-free ETF changes). Considering Vanguard, Fidelity and Merrill Edge but have not researched yet.
I'm consolidating everything into accounts at Fidelity. I've had pretty good customer service and a good experience overall with Fidelity. I had a horrible experience with a 401k at Merrill Lynch so I never considered Merrill Edge. I've had accounts at Vanguard in the past, but I was dissatisfied with their customer service so I moved everything I had at Vanguard to Fidelity.
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