Fidelity, Schwab, or Vanguard

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GoldStar
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Re: Fidelity, Schwab, or Vanguard

Post by GoldStar » Thu Sep 13, 2018 6:30 am

GoldStar wrote:
Thu Sep 13, 2018 6:14 am
tj wrote:
Thu Sep 13, 2018 12:35 am
GoldStar wrote:
Wed Sep 12, 2018 9:18 pm
Vanguard for taxable and Fidelity for tax advantaged.
Why Fidelity for tax-advantaged?
The expense ratios of 2 funds is 0 - doesnt get any lower than that.
Additionally you are more likely to need customer support at some point for tax advantaged accounts - and fidelity is known to provide better support.
Vanguard for taxable since there funds have been slightly more tax efficient (at least in recent years).
You have to manage your taxable account separate than tax advantaged so you can use two different entities to do so.

TwstdSista
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Re: Fidelity, Schwab, or Vanguard

Post by TwstdSista » Thu Sep 13, 2018 6:35 am

GoldStar wrote:
Thu Sep 13, 2018 6:14 am
tj wrote:
Thu Sep 13, 2018 12:35 am
GoldStar wrote:
Wed Sep 12, 2018 9:18 pm
Vanguard for taxable and Fidelity for tax advantaged.
Why Fidelity for tax-advantaged?
The expense ratios of 2 funds is 0 - doesnt get any lower than that.
^ This. Plus the expense ratio on their already existing index funds are at rock bottom prices and less than half the ERs at Vanguard or Schwab.

betablocker
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Re: Fidelity, Schwab, or Vanguard

Post by betablocker » Thu Sep 13, 2018 8:33 am

I've found that the cheap options at Schwab and Fidelity are more limited. Maybe S&P 500 is no fee but then their muni money market is 3-4x times the fee of Vanguard's option. That's where these guys make their money. They are also defaulting your sweep account to a bank account with almost no interest instead of a money market that at least pays something. True, you can move it yourself but are you in that account often enough to catch it. On the other hand Vanguard has a bad website and is very cumbersome to work with compared with the others.

neveragain
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Re: Fidelity, Schwab, or Vanguard

Post by neveragain » Thu Sep 13, 2018 9:17 am

Fidelity has excellent customer service.

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ruralavalon
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Location: Illinois

Re: Fidelity, Schwab, or Vanguard

Post by ruralavalon » Thu Sep 13, 2018 9:33 am

neveragain wrote:
Thu Sep 13, 2018 9:17 am
Fidelity has excellent customer service.
Vanguard has good customer service.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

bigdawgwill44
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Re: Fidelity, Schwab, or Vanguard

Post by bigdawgwill44 » Thu Sep 13, 2018 10:29 am

mervinj7 wrote:
Wed Sep 12, 2018 11:46 am
More than 52% of our current investments are in Vanguard funds. That said, all of our accounts including our 401k's with Vanguard funds are managed by Fidelity. Service has been great and it was nice to able to walk in to a local office when we needed to rollover multiple old 401ks and Rollover IRAs into our current employers' 401k. The young guy at the office handled all the paperwork and signatures. Here's a list of the accounts we have at Fidelity:
  • His 401k (Vanguard Funds)
  • Her 403b (Vanguard Funds)
  • His Roth IRA
  • Her Roth IRA
  • His HSA
  • DS's 529
  • Joint Cash Management Account --> free banking, Worldwide ATM reimbursement, "cash" is kept in Money Market Fund that is automatically liquidated for any checks written
  • Joint Taxable
  • Her Solo 401k (setup in progress)--> allows incoming rollovers!
I believe the only common account we are missing the Fidelity Visa with 2% Cash Back. As an added bonus, Fidelity funds have lower expenses and no minimums. For a complete list of their index funds, new share class structures, and comparisons against both Schwab and Vanguard equivalents, see below.
https://www.fidelity.com/bin-public/060 ... f_FAQs.pdf
When you work with a local office do they charge you fees? Or do you just stop by/make an appointment and they help you out? Just curious.

mervinj7
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Re: Fidelity, Schwab, or Vanguard

Post by mervinj7 » Thu Sep 13, 2018 10:41 am

bigdawgwill44 wrote:
Thu Sep 13, 2018 10:29 am
When you work with a local office do they charge you fees? Or do you just stop by/make an appointment and they help you out? Just curious.
We were not charged any fees for the various account transfers and consolidation we did in 2016. We made the appointment ahead of time over the phone. If I remember correctly, there was no wire transfer fee either (e.g. transferring funds for earnest payment for house purchase).

neveragain
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Re: Fidelity, Schwab, or Vanguard

Post by neveragain » Thu Sep 13, 2018 11:00 am

ruralavalon wrote:
Thu Sep 13, 2018 9:33 am
neveragain wrote:
Thu Sep 13, 2018 9:17 am
Fidelity has excellent customer service.
Vanguard has good customer service.
Yes. Fidelity's service is excellent, Vanguard's is "good". I used to have Vanguard and switched to Fidelity because it would take me days to talk to a customer service rep with Vanguard. With Fidelity, I can speak with someone usually within minutes. Fidelity also has a walk-in office nearby which I find to be convenient. I'm also happy with their new free funds.

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Mursili
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Re: Fidelity, Schwab, or Vanguard

Post by Mursili » Thu Sep 13, 2018 11:10 am

I have no experience with Vanguard and Schwab.

With Fidelity, I have enough to have an assigned adviser. I forget what level that makes me, but it does not matter. I have met with the man once to see what he would have to say. He pointed me to higher-cost, non-boglehead investment products and seemed to actually have a visceral reaction to the name Jack Bogle. When asked for a favor regarding tax software, my request was turned down by this adviser. I learned to ignore all communications from this adviser. This is easy to do - they are not in my face in any way.

In all other ways, Fidelity seems great. All calls to them have resolved whatever needed to get done promptly. I do not know if there is a local office in a nearby city - there used to be - but I have considered stopping by at least once. That has never happened since there is so much else to do all the time.
When it comes to havoc, no one wreaks like me! - Dr. Heinz Doofenshmirtz

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DaftInvestor
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Re: Fidelity, Schwab, or Vanguard

Post by DaftInvestor » Thu Sep 13, 2018 12:32 pm

I've got accounts at all three (IRA at Fidelity, Current 401K at Schwab, taxable at Vanguard).
I like the idea of taxable at Vanguard and tax-advantaged at Fidelity or Schwab (for reasons mentioned by others).
If I had to pick one I'd go with Fidelity. $0 Expense Ratio funds, $0 minimums.
Both Fidelity and Schwab have been beating Vanguard at their own game (Low ERs for index funds) and providing better service while doing so.

mindboggling
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Location: Upstate NY

Re: Fidelity, Schwab, or Vanguard

Post by mindboggling » Thu Sep 13, 2018 12:37 pm

If the investor is experienced and can ferret out the low-cost index funds at Fidelity or Schwab, either is OK. An inexperienced investor would be better off at Vanguard even if the customer service may not quite be at the Fido or Schwab level.
In broken mathematics, We estimate our prize, --Emily Dickinson

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ruralavalon
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Location: Illinois

Re: Fidelity, Schwab, or Vanguard

Post by ruralavalon » Thu Sep 13, 2018 4:19 pm

neveragain wrote:
Thu Sep 13, 2018 11:00 am
ruralavalon wrote:
Thu Sep 13, 2018 9:33 am
neveragain wrote:
Thu Sep 13, 2018 9:17 am
Fidelity has excellent customer service.
Vanguard has good customer service.
Yes. Fidelity's service is excellent, Vanguard's is "good". I used to have Vanguard and switched to Fidelity because it would take me days to talk to a customer service rep with Vanguard. With Fidelity, I can speak with someone usually within minutes. Fidelity also has a walk-in office nearby which I find to be convenient. I'm also happy with their new free funds.
I got a Vanguard representative on the second or third ring today (I wanted to ask a question about the new security code system), and have never waited to talk to someone.

Nobody has a customer service office near me, except Edward Jones (no thanks).
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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