Buying Vanguard Funds

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CincySkyline
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Joined: Thu Feb 13, 2020 10:05 pm

Buying Vanguard Funds

Post by CincySkyline » Fri Feb 14, 2020 8:56 pm

Hey Folks,
Can I buy Vanguard Mutual Funds with money from my Raymond James accounts? Thank You.

retired@50
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Re: Buying Vanguard Funds

Post by retired@50 » Fri Feb 14, 2020 9:01 pm

CincySkyline wrote:
Fri Feb 14, 2020 8:56 pm
Hey Folks,
Can I buy Vanguard Mutual Funds with money from my Raymond James accounts? Thank You.
You can probably buy Vanguard ETFs, but mutual funds may be off limits. I'd suggest you move the Raymond James accounts to Vanguard, and then you can shop at will for any Vanguard Mutual Fund you'd like.

Regards,
Boggle - a game from Parker Brothers. Bogle - investor, founder of Vanguard.

123
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Re: Buying Vanguard Funds

Post by 123 » Fri Feb 14, 2020 9:03 pm

As long as you remove the money from the Raymond James account it should be usable. Just buy them directly from Vanguard and keep them there. No reason to pay any fees to Raymond James for stuff you decide on and purchase on your own.
The closest helping hand is at the end of your own arm.

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Wiggums
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Re: Buying Vanguard Funds

Post by Wiggums » Fri Feb 14, 2020 9:07 pm

retired@50 wrote:
Fri Feb 14, 2020 9:01 pm
CincySkyline wrote:
Fri Feb 14, 2020 8:56 pm
Hey Folks,
Can I buy Vanguard Mutual Funds with money from my Raymond James accounts? Thank You.
You can probably buy Vanguard ETFs, but mutual funds may be off limits. I'd suggest you move the Raymond James accounts to Vanguard, and then you can shop at will for any Vanguard Mutual Fund you'd like.

Regards,
+1

Is the RJ money under management or is this a self directed account?

Topic Author
CincySkyline
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Re: Buying Vanguard Funds

Post by CincySkyline » Fri Feb 14, 2020 9:09 pm

under management

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Nate79
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Location: Delaware

Re: Buying Vanguard Funds

Post by Nate79 » Fri Feb 14, 2020 9:10 pm

CincySkyline wrote:
Fri Feb 14, 2020 9:09 pm
under management
Wouldn't you ask your money manager to do this for you? That's why you pay them an arm and a leg. :shock:

Topic Author
CincySkyline
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Joined: Thu Feb 13, 2020 10:05 pm

Re: Buying Vanguard Funds

Post by CincySkyline » Fri Feb 14, 2020 9:23 pm

Nate79 wrote:
Fri Feb 14, 2020 9:10 pm
CincySkyline wrote:
Fri Feb 14, 2020 9:09 pm
under management
Wouldn't you ask your money manager to do this for you? That's why you pay them an arm and a leg. :shock:
He said, yes, if Vanguard has an 'agreement w/RJ.

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Cheez-It Guy
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Re: Buying Vanguard Funds

Post by Cheez-It Guy » Fri Feb 14, 2020 9:25 pm

An agreement to pay RJ a commission for selling Vanguard funds. Unlikely.
Last edited by Cheez-It Guy on Sat Feb 15, 2020 10:30 am, edited 1 time in total.

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Nate79
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Location: Delaware

Re: Buying Vanguard Funds

Post by Nate79 » Fri Feb 14, 2020 9:48 pm

Is there worse than Raymond James? I mean Raymond James and Edward Jones are horrendous but always curious who is the absolute worst.

mega317
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Re: Buying Vanguard Funds

Post by mega317 » Fri Feb 14, 2020 10:27 pm

CincySkyline wrote:
Fri Feb 14, 2020 9:23 pm
He said, yes, if Vanguard has an 'agreement w/RJ.
Wait the manager gave you an "if"? Isn't he the one who should be answering those questions.

I'd run.
https://www.bogleheads.org/forum/viewtopic.php?t=6212

bradinsky
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Joined: Sat Jul 21, 2018 6:32 am

Re: Buying Vanguard Funds

Post by bradinsky » Sat Feb 15, 2020 10:20 am

You’d probably have more money to invest, if you just moved everything away from RJ. If you feel the need to ask financial questions on this forum, it’s obvious that the RJ salesperson is not doing their job to your satisfaction. Move to Vanguard!

anil686
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Re: Buying Vanguard Funds

Post by anil686 » Sat Feb 15, 2020 10:50 am

Was with LPL financial for a year - I don’t know how different they are from RJ but would imagine they would be similar. The answer was first - let me check and then no but we have these funds that are similar with comparisons of performance (before taxes and loads were considered) as alternatives at “no cost” with rationale for why those are superior to VG funds. Just my experience though...

dbr
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Re: Buying Vanguard Funds

Post by dbr » Sat Feb 15, 2020 11:15 am

Please do not invest with RJ or EJ. You can buy Vanguard funds at Vanguard and the ETF shares classes at many fine low cost brokers such as Schwab, Fidelity, etc., etc. Make sure you don't let any broker talk you into paying a fee for investment help or advice, maybe not even Vanguard,* and also don't pay fees for advice at Fidelity or Schwab if they try to talk you into it.

*There is a Vanguard Personal Advisory Service that costs 0.3% per year. It is arguable which investors can well benefit from that and which do not need to spend the money.

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ruralavalon
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Re: Buying Vanguard Funds

Post by ruralavalon » Sat Feb 15, 2020 3:07 pm

Welcome to the forum :) .

CincySkyline wrote:
Fri Feb 14, 2020 8:56 pm
Hey Folks,
Can I buy Vanguard Mutual Funds with money from my Raymond James accounts? Thank You.
What management fees is Raymond James charging you?

What types of accounts are these?

Are these tax-advantaged accounts like IRAs? If so I suggest rolling the accounts over to IRAs at Vanguard, and then buying the Vanguard funds you want.

If this is a taxable brokerage account, you can transfer the investments "in kind" to can account at Vanguard.

What will Raymond James charge if you sell the investments you have with them?I

Is there an account closing fee?
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