Considering switch from Vanguard to eTrade...pros, cons and other input?

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
User avatar
Topic Author
galawdawg
Posts: 922
Joined: Thu Dec 14, 2017 12:59 pm
Location: Georgia

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by galawdawg » Mon Jun 08, 2020 4:58 am

I'm still very pleased with E*TRADE. Stellar service, robust website, and the ability to hold all of the Vanguard mutual funds that I use with no transaction fees. I compiled a list of all of the Vanguard mutual funds at E*TRADE that have no transaction fee, perhaps it will be helpful to others: https://drive.google.com/file/d/1OpHwVx ... sp=sharing

I don't know how often their list of Vanguard NTF funds changes, so for the most current information , you can use their fund screener tool (which is readily available even for those without an account): https://www.etrade.wallst.com/Research/ ... ct&env=PRD. There you can use the advanced screener to narrow down the fund family and you can select only no load NTF funds as well.

Or if you already know the symbol of the fund you are interested in, you can go here (https://www.etrade.wallst.com/v1/stocks ... lookup.asp) to directly enter that symbol in the snapshot search box.

User avatar
simplesimon
Posts: 3825
Joined: Mon Feb 25, 2008 8:53 pm
Location: Boston, MA

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by simplesimon » Mon Jun 08, 2020 5:06 am

I'm currently having an issue with E*Trade's solo 401k where the $19,500 employee contribution limit's been reached, but I cannot add any more beyond that at least through online transfers. Anybody having the same issue and have a workaround?
Last edited by simplesimon on Mon Jun 08, 2020 6:13 am, edited 1 time in total.

TheGreyingDuke
Posts: 1758
Joined: Fri Sep 02, 2011 10:34 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by TheGreyingDuke » Mon Jun 08, 2020 6:07 am

I have also been all-in at Vanguard for decades and was disappointed at the demise of Advantage. Otherwise, my needs are easily met. All dividends get swept to a high-yield savings account and once a month I make a transfer to a newly-opened Fidelity cash management account.

The Fidelity account is easy to access for depositing some checks I still get and Vanguard otherwise still meets my needs. I find access to it easy (after years of use) and am still a bit flummoxed by Fidelity.

I also still have a dedicated rep at Vanguard, not that seems to be all that important.
"Every time I see an adult on a bicycle, I no longer despair for the future of the human race." H.G. Wells

User avatar
ruralavalon
Posts: 18741
Joined: Sat Feb 02, 2008 10:29 am
Location: Illinois

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by ruralavalon » Mon Jun 08, 2020 2:10 pm

galawdawg wrote:
Mon Jun 08, 2020 4:58 am
I'm still very pleased with E*TRADE. Stellar service, robust website, and the ability to hold all of the Vanguard mutual funds that I use with no transaction fees. I compiled a list of all of the Vanguard mutual funds at E*TRADE that have no transaction fee, perhaps it will be helpful to others: https://drive.google.com/file/d/1OpHwVx ... sp=sharing

I don't know how often their list of Vanguard NTF funds changes, so for the most current information , you can use their fund screener tool (which is readily available even for those without an account): https://www.etrade.wallst.com/Research/ ... ct&env=PRD. There you can use the advanced screener to narrow down the fund family and you can select only no load NTF funds as well.

Or if you already know the symbol of the fund you are interested in, you can go here (https://www.etrade.wallst.com/v1/stocks ... lookup.asp) to directly enter that symbol in the snapshot search box.
Awesome list of no transaction fee Vanguard funds at E*Trade, I'm sure it took a lot of effort and will be helpful to many people.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

User avatar
wintermute
Posts: 213
Joined: Mon Mar 15, 2010 10:36 pm

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by wintermute » Thu Jul 30, 2020 8:17 pm

Does anyone know how big Etrade's mark-ups/mark-downs are, on treasuries? Specifically tbills and LT bonds.

jjface
Posts: 3044
Joined: Thu Mar 19, 2015 6:18 pm

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by jjface » Thu Jul 30, 2020 9:09 pm

Thanks for this thread and the info. I've been considering etrade. I own a few vanguard mutual funds I want to keep and it is a little fiddly to do so at fidelity. And the etrade solo 401k seems to have everything whereas the fidelity one even makes you mail in a check for contributions as well as not allowing loans or roth 401k contributions. But otherwise happy with fidelity so haven't done anything about it yet. Probably should just open an etrade account and get a feel for it.

User avatar
AerialWombat
Posts: 1590
Joined: Tue May 29, 2018 1:07 pm
Location: Cash Canyon / Cashville

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by AerialWombat » Thu Jul 30, 2020 9:45 pm

simplesimon wrote:
Mon Jun 08, 2020 5:06 am
I'm currently having an issue with E*Trade's solo 401k where the $19,500 employee contribution limit's been reached, but I cannot add any more beyond that at least through online transfers. Anybody having the same issue and have a workaround?
This is a new restriction as of 2020. I did not have this problem in 2018 or 2019. They told me that I have to MAIL A CHECK for my employer contribution— which is precisely why I chose eTrade over Fidelity in 2018.

I’ve considered moving it to Vanguard, since Wellesley is my sole holding anyway. Plus, I’m the only person on this forum that prefers the Vanguard website to all others.

User avatar
Nicolas
Posts: 2007
Joined: Wed Aug 22, 2012 7:41 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by Nicolas » Thu Jul 30, 2020 9:57 pm

I’m with E*Trade and have only one complaint: I was unable to invest in Vanguard Wellesley Income Fund Admiral shares even though I had way over the minimum Admiral dollar investment. They don’t offer Admiral class shares of this fund.

I could only buy the Investor class shares, so that’s what I invested in. This was in March of this year. And there’s no fee to invest but if you sell before 90 days is up there’s a $49.99 fee levied. I have no intention of selling any of it so soon.

User avatar
siamond
Posts: 5472
Joined: Mon May 28, 2012 5:50 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by siamond » Thu Jul 30, 2020 10:16 pm

I've been using E*Trade for some 20-odd years, due to my former employer stock plan. Now I am retired and this money went to a taxable account. I extended my E*trade accounts (now 100% based on Vanguard ETFs) to include savings and checking accounts. In parallel, I moved our IRAs (incl. former 401k rolling over) to Vanguard, 100% based on Vanguard MFs. This all works great, taking advantage of what both platforms are really good at. Been doing that for 10+ years and I am perfectly happy with the set-up. Of course, E*Trade not charging me any commissions (banking, withdrawing, transferring or trading) is pretty sweet... Same for Vanguard, of course. Both Web sites work well in such context, again, it's all about using what platform is good at.
Last edited by siamond on Fri Jul 31, 2020 10:32 am, edited 1 time in total.

tj
Posts: 3058
Joined: Thu Dec 24, 2009 12:10 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by tj » Thu Jul 30, 2020 11:06 pm

Nicolas wrote:
Thu Jul 30, 2020 9:57 pm
I’m with E*Trade and have only one complaint: I was unable to invest in Vanguard Wellesley Income Fund Admiral shares even though I had way over the minimum Admiral dollar investment. They don’t offer Admiral class shares of this fund.

I could only buy the Investor class shares, so that’s what I invested in. This was in March of this year. And there’s no fee to invest but if you sell before 90 days is up there’s a $49.99 fee levied. I have no intention of selling any of it so soon.
You generally can only buy Admiral Shares at Vanguard.

jason2459
Posts: 312
Joined: Wed May 06, 2020 7:59 pm

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by jason2459 » Thu Jul 30, 2020 11:28 pm

tj wrote:
Thu Jul 30, 2020 11:06 pm
Nicolas wrote:
Thu Jul 30, 2020 9:57 pm
I’m with E*Trade and have only one complaint: I was unable to invest in Vanguard Wellesley Income Fund Admiral shares even though I had way over the minimum Admiral dollar investment. They don’t offer Admiral class shares of this fund.

I could only buy the Investor class shares, so that’s what I invested in. This was in March of this year. And there’s no fee to invest but if you sell before 90 days is up there’s a $49.99 fee levied. I have no intention of selling any of it so soon.
You generally can only buy Admiral Shares at Vanguard.
You can actually invest in a good number of Vanguard admiral shares at E-Trade. I've been in a few in the past and now sticking with VTSAX and VTIAX. Equity and bond admiral shares available and even their prime money market is but there are a few that aren't and that happens to be one of them.

User avatar
beyou
Posts: 3149
Joined: Sat Feb 27, 2010 3:57 pm
Location: Northeastern US

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by beyou » Thu Jul 30, 2020 11:42 pm

I had posted earlier, but I have reason to consider consolidation soon. I have both Vanguard and Etrade accts. While I like both, I will likely forgo transfer bonuses and stay with Vanguard.

I use Porfolio Watch regularly. Etrade used to have similar but so not see on their app.

I have admiral funds some of which will not transfer.
I could swap into Investor funds at additional cost to me.
In some cases I could find a close alternative ETF but identical fund = higher fees.

More assets and accts and Vanguard, easier to consolidate there.

While service is better at Etrade, I rarely need help from humans at either.

jason2459
Posts: 312
Joined: Wed May 06, 2020 7:59 pm

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by jason2459 » Thu Jul 30, 2020 11:52 pm

I don't like the E-Trade app. I always just use the website and works fine on phone or desktop.

User avatar
simplesimon
Posts: 3825
Joined: Mon Feb 25, 2008 8:53 pm
Location: Boston, MA

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by simplesimon » Fri Jul 31, 2020 7:40 am

AerialWombat wrote:
Thu Jul 30, 2020 9:45 pm
simplesimon wrote:
Mon Jun 08, 2020 5:06 am
I'm currently having an issue with E*Trade's solo 401k where the $19,500 employee contribution limit's been reached, but I cannot add any more beyond that at least through online transfers. Anybody having the same issue and have a workaround?
This is a new restriction as of 2020. I did not have this problem in 2018 or 2019. They told me that I have to MAIL A CHECK for my employer contribution— which is precisely why I chose eTrade over Fidelity in 2018.

I’ve considered moving it to Vanguard, since Wellesley is my sole holding anyway. Plus, I’m the only person on this forum that prefers the Vanguard website to all others.
Wow, any idea why they did this?

User avatar
Nicolas
Posts: 2007
Joined: Wed Aug 22, 2012 7:41 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by Nicolas » Fri Jul 31, 2020 10:21 am

There’s another minor complaint I just thought of with regard to E*Trade: I have seven beneficiaries. I want to split the estate absolutely evenly. Since seven does not go into one hundred evenly I would need to employ fractional percentages to achieve this result. However with E*Trade I am limited to whole percentages only (I asked).

Therefore to come closest to equality I must designate five beneficiaries to receive 14% each and two beneficiaries to receive 15% each. Now in this case 1% is not an insignificant amount of money. To make the choice I was forced to make a judgment as to who among the seven beneficiaries was the most worthy and the poorest. They’ll be getting the most money of the seven.
Last edited by Nicolas on Fri Jul 31, 2020 12:14 pm, edited 1 time in total.

User avatar
AerialWombat
Posts: 1590
Joined: Tue May 29, 2018 1:07 pm
Location: Cash Canyon / Cashville

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by AerialWombat » Fri Jul 31, 2020 11:58 am

simplesimon wrote:
Fri Jul 31, 2020 7:40 am
Wow, any idea why they did this?
No idea. :(

Blue456
Posts: 815
Joined: Tue Jun 04, 2019 5:46 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by Blue456 » Fri Jul 31, 2020 1:56 pm

What’s the rate now on etrade savings account?

shess
Posts: 519
Joined: Wed May 17, 2017 12:02 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by shess » Fri Jul 31, 2020 2:00 pm

Blue456 wrote:
Fri Jul 31, 2020 1:56 pm
What’s the rate now on etrade savings account?
https://us.etrade.com/bank

"As of 07/31/2020, the Annual Percentage Yield (APY) of the Premium Savings Account offered by E*TRADE Bank is 0.05% for balances of $500,000 or more, 0.05% for balances of $100,000–$499,999, 0.05% for balances of $50,000–$99,999, 0.05% for balances of $5,000–$49,999, and 0.05% for balances of less than $5,000. Rates are subject to change daily and fees may reduce earnings. No minimum initial deposit is required to open an account. However, account must be funded within 30 days to remain open."

Wow, SUPER generous. I honestly cannot figure out how they convince people to write the copy for these offerings.

Blue456
Posts: 815
Joined: Tue Jun 04, 2019 5:46 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by Blue456 » Fri Jul 31, 2020 2:10 pm

shess wrote:
Fri Jul 31, 2020 2:00 pm
Blue456 wrote:
Fri Jul 31, 2020 1:56 pm
What’s the rate now on etrade savings account?
https://us.etrade.com/bank

"As of 07/31/2020, the Annual Percentage Yield (APY) of the Premium Savings Account offered by E*TRADE Bank is 0.05% for balances of $500,000 or more, 0.05% for balances of $100,000–$499,999, 0.05% for balances of $50,000–$99,999, 0.05% for balances of $5,000–$49,999, and 0.05% for balances of less than $5,000. Rates are subject to change daily and fees may reduce earnings. No minimum initial deposit is required to open an account. However, account must be funded within 30 days to remain open."

Wow, SUPER generous. I honestly cannot figure out how they convince people to write the copy for these offerings.
So they didn’t really keep up with high yield savings like Ally or Capital One.

User avatar
Nicolas
Posts: 2007
Joined: Wed Aug 22, 2012 7:41 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by Nicolas » Fri Jul 31, 2020 3:41 pm

shess wrote:
Fri Jul 31, 2020 2:00 pm
Blue456 wrote:
Fri Jul 31, 2020 1:56 pm
What’s the rate now on etrade savings account?
https://us.etrade.com/bank

"As of 07/31/2020, the Annual Percentage Yield (APY) of the Premium Savings Account offered by E*TRADE Bank is 0.05% for balances of $500,000 or more, 0.05% for balances of $100,000–$499,999, 0.05% for balances of $50,000–$99,999, 0.05% for balances of $5,000–$49,999, and 0.05% for balances of less than $5,000. Rates are subject to change daily and fees may reduce earnings. No minimum initial deposit is required to open an account. However, account must be funded within 30 days to remain open."

Wow, SUPER generous. I honestly cannot figure out how they convince people to write the copy for these offerings.
I think it was 0.70% as recently as February.

backpacker61
Posts: 48
Joined: Wed May 20, 2020 6:36 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by backpacker61 » Fri Jul 31, 2020 6:39 pm

beyou wrote:
Thu Jul 30, 2020 11:42 pm
I have admiral funds some of which will not transfer.
I could swap into Investor funds at additional cost to me.
In some cases I could find a close alternative ETF but identical fund = higher fees.
It looks to me like few of the Vanguard Tax-Exempt Bond Funds Adm/class are NTF funds at eTrade.
Although their "all-duration" T/E Bond Index Fund VTEAX is available in Adm.
“Now shall I walk or shall I ride? | 'Ride,' Pleasure said; | 'Walk,' Joy replied.” | | ― W.H. Davies

User avatar
beyou
Posts: 3149
Joined: Sat Feb 27, 2010 3:57 pm
Location: Northeastern US

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by beyou » Fri Jul 31, 2020 7:17 pm

backpacker61 wrote:
Fri Jul 31, 2020 6:39 pm
beyou wrote:
Thu Jul 30, 2020 11:42 pm
I have admiral funds some of which will not transfer.
I could swap into Investor funds at additional cost to me.
In some cases I could find a close alternative ETF but identical fund = higher fees.
It looks to me like few of the Vanguard Tax-Exempt Bond Funds Adm/class are NTF funds at eTrade.
Although their "all-duration" T/E Bond Index Fund VTEAX is available in Adm.
Yes a few are available at Etrade. Etrade seems to be the 2nd best place to own Vanguard funds, after direct at Vanguard. But I do have a couple of funds (GNMA and ST tax exempt) as admiral at Vanguard but only Investor at Etade.

I also use Portfolio Watch on Vanguard site, which is not perfect but Etrade doesn’t seem to have anything similar. Their portfolio menu shows you stocks vs bonds but no drill down (like US vs Int) and no what if. Etrade used to give you free M* xray but seems no more.

backpacker61
Posts: 48
Joined: Wed May 20, 2020 6:36 am

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by backpacker61 » Fri Jul 31, 2020 7:47 pm

beyou wrote:
Fri Jul 31, 2020 7:17 pm
Yes a few are available at Etrade. Etrade seems to be the 2nd best place to own Vanguard funds, after direct at Vanguard. But I do have a couple of funds (GNMA and ST tax exempt) as admiral at Vanguard but only Investor at Etade.
I have S/T, Ltd/T, Int/T, and H/Y T/E funds, all (now) in Adm.
It would cost me probably $200/year to have those revert to Inv.
beyou wrote:
Fri Jul 31, 2020 7:17 pm
I also use Portfolio Watch on Vanguard site, which is not perfect but Etrade doesn’t seem to have anything similar. Their portfolio menu shows you stocks vs bonds but no drill down (like US vs Int) and no what if. Etrade used to give you free M* xray but seems no more.
I like Portfolio Watch also, although I have a large holding in a Closed-End Fund that PW isn't able to categorize. I wish there was a mechanism for me to manually describe or categorize it for PW to use that.

In any case, I'm grateful for the tools that are available on the brokerages' web sites; everything is light years beyond what I had available when I began investing in the mid 1980's.
“Now shall I walk or shall I ride? | 'Ride,' Pleasure said; | 'Walk,' Joy replied.” | | ― W.H. Davies

User avatar
beyou
Posts: 3149
Joined: Sat Feb 27, 2010 3:57 pm
Location: Northeastern US

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by beyou » Fri Jul 31, 2020 8:45 pm

backpacker61 wrote:
Fri Jul 31, 2020 7:47 pm
beyou wrote:
Fri Jul 31, 2020 7:17 pm
Yes a few are available at Etrade. Etrade seems to be the 2nd best place to own Vanguard funds, after direct at Vanguard. But I do have a couple of funds (GNMA and ST tax exempt) as admiral at Vanguard but only Investor at Etade.
I have S/T, Ltd/T, Int/T, and H/Y T/E funds, all (now) in Adm.
It would cost me probably $200/year to have those revert to Inv.
beyou wrote:
Fri Jul 31, 2020 7:17 pm
I also use Portfolio Watch on Vanguard site, which is not perfect but Etrade doesn’t seem to have anything similar. Their portfolio menu shows you stocks vs bonds but no drill down (like US vs Int) and no what if. Etrade used to give you free M* xray but seems no more.
I like Portfolio Watch also, although I have a large holding in a Closed-End Fund that PW isn't able to categorize. I wish there was a mechanism for me to manually describe or categorize it for PW to use that.

In any case, I'm grateful for the tools that are available on the brokerages' web sites; everything is light years beyond what I had available when I began investing in the mid 1980's.
You can enter a proxy for any asset in PW.
You create a new group which excludes the real CEF, and includes the proxy. Problem is then having to update frequently the value of the proxy.

mav12
Posts: 93
Joined: Tue Nov 07, 2017 5:36 pm

Re: Considering switch from Vanguard to eTrade...pros, cons and other input?

Post by mav12 » Sat Aug 01, 2020 10:27 am

Jack FFR1846 wrote:
Tue Oct 01, 2019 5:26 pm
My ESPPs and RSUs are through eTrade and their site is nearly as clunky as Vanguard's. 80% of it feels like marketing to me. I much prefer TDAmeritrade as the most useful site and Schwab as the easiest to navigate. Third for me is Fidelity because of its linking of accounts on one page and the ability to find all the info I'm looking for with some effort.

I left Vanguard and transferred to TDAmeritrade where I hold VTI and VEA ETFs.
I'm doing this too, but I allocate the portfolio with Vanguard and TDA. A lot of other funds can be purchased for free or $20 through Vanguard, but others can be purchased at TDA (but for $50) for lower initial investments than is required.

Post Reply