Thinking of Switching From Big Name Manager to Vanguard

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Topic Author
TTR
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Joined: Sun Mar 10, 2024 7:02 pm

Thinking of Switching From Big Name Manager to Vanguard

Post by TTR »

I am in this current position....
I have half of our retirement investments with a manager. The other half is in my 401k.
It's a mix of investment options.
I am feeling a need to move from the manager to Vanguard, including the 401k.
Trouble trying to understand how to position investment. I do not understand the products.
Will a PAS with Vanguard give me a good foundation of understanding and decision making?

Please let me know if this makes sense. I placed images of my spread sheets for my accounts.
If I need to break things up further or there are missing details, please let me know.

My portfolio is broken up across five accounts with a lot of duplication.

I tried to get as much info to paint the picture, I have obviously left out the financial figures.

Emergency funds: Yes

Debt:

No Debt

Tax Filing Status:

Married Filing Jointly

Tax Rate:

12% Federal, 5% RI 5% MA

State of Residence:

MA

Age:

He 62.5
Her 62.5

Desired Asset allocation:

50% stocks / 50% bonds

Desired International allocation:

??% of stocks

Please provide an approximate size of your total portfolio (as in 50K, 700k, 1.4M, etc.) or as (high four-figures, mid five-figures, low six-figures, etc.).

Low 7 figures

The vehicles are are in categories/ images and within each sheet you see which accounts each vehicle is in.

Sorry for the confusion.

https://i.postimg.cc/gcVdZ4c5/Stocks-Ac ... counts.png
https://i.postimg.cc/DZGwMXVM/Closed-Mu ... counts.png
https://i.postimg.cc/qqXMkHvc/ETFs-Acro ... counts.png
https://i.postimg.cc/vmcB5K0M/Mny-Mkt-M ... counts.png
https://i.postimg.cc/Gt1mwmdh/Open-Mutu ... counts.png
https://i.postimg.cc/htCvznbp/Preferred ... counts.png



Show us your current portfolio including all investment and retirement accounts (yourself and spouse or civil partner, if applicable) as it's important to look at the portfolio as a unified whole rather than look at accounts in isolation. Also include the available funds in your employer provided retirement plans.

Show each fund or holding as a percentage of the entire portfolio, not as a percentage of the account that holding is in. If this instruction is not clear, see the example under the Key Points section below. For example:

Current retirement assets
* The format below is shown using his/her pronouns. Use whatever pronouns or identifying names you prefer as long as it is clear which assets belong to which person.

Taxable
xx% cash (for investing – do not include emergency funds)
xx% fund name (ticker symbol) (expense ratio)
xx% stock company name (ticker symbol)

His 401k
xx% fund name (ticker symbol) (expense ratio)
Company match?

His Roth IRA at Vanguard
xx% fund name (ticker symbol) (expense ratio)
xx% fund name (ticker symbol) (expense ratio)

His Rollover IRA at Schwab
xx% fund name (ticker symbol) (expense ratio)

Her 403b
xx% fund name (ticker symbol) (expense ratio)
Company match?

Her SIMPLE IRA at Fidelity
xx% fund name (ticker symbol) (expense ratio)

Her Traditional IRA at Vanguard
xx% fund name (ticker symbol) (expense ratio)
_______________________________________________________________
Note: Total percentage of all the above accounts together (not each account individually) should equal 100%.
Last edited by TTR on Mon Apr 01, 2024 5:39 pm, edited 4 times in total.
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dodecahedron
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Re: Starting the SSRI Paperwork

Post by dodecahedron »

What is SSRI? Surely not, in this context, Selective Serotonin Reuptake Inhibitor? And also not Social Sciences Research Institute?
mhalley
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Re: Starting the SSRI Paperwork

Post by mhalley »

The thing about vanguard pas is they want all the funds/etfs to be vanguard products. If your account is taxable, then you might end up with a large tax bill to switch to pas. You would need to look at the account and see how much capital gains you have, and if a lot work on a plan to gradually switch to a more reasonable portfolio. But certainly you could move to vanguard with the ultimate goal of a 3 fund portfolio.
Some immediate steps:
Turn off dividend investment
Sell funds with capital losses
Sell funds with gains to equal the amount of losses
Figure how mipuch extra tax you are willing to pay each year to unwind the portfolio over a few years
FriedOkra
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Re: Starting the SSRI Paperwork

Post by FriedOkra »

dodecahedron wrote: Sun Mar 10, 2024 8:09 pm What is SSRI? Surely not, in this context, Selective Serotonin Reuptake Inhibitor? And also not Social Sciences Research Institute?
Social Security Retirement Insurance. It's the official acronym that the Social Security Administration uses for the program.
Topic Author
TTR
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Re: Starting the SSRI Paperwork

Post by TTR »

mhalley wrote: Sun Mar 10, 2024 9:59 pm The thing about vanguard pas is they want all the funds/etfs to be vanguard products. If your account is taxable, then you might end up with a large tax bill to switch to pas. You would need to look at the account and see how much capital gains you have, and if a lot work on a plan to gradually switch to a more reasonable portfolio. But certainly you could move to vanguard with the ultimate goal of a 3 fund portfolio.
Some immediate steps:
Turn off dividend investment
Sell funds with capital losses
Sell funds with gains to equal the amount of losses
Figure how mipuch extra tax you are willing to pay each year to unwind the portfolio over a few years
This is my dilemma, not understanding this process and it's possible resulting pitfalls.

I can really use some guidance.

Thanks
mhalley
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Re: Starting the SSRI Paperwork

Post by mhalley »

Start with the bogleheads wiki. Setup your account at vanguard. (Or fidelity or Schwab) Setup the account to have tax lots as specific identification. Read the posts getting started, asset allocation and three fund portfolio.
Contact vanguard or fidelity or Schwab) to initiate the transfer IN KIND from your currrent brokerage. You can do this online. If you try to do a push from them, they will drag their feet and are trained on how to convince you that you are making a huge mistake. The major pitfall would be selling and owing cap gains taxes.
https://www.bogleheads.org/wiki/Getting_started
https://www.bogleheads.org/wiki/Asset_allocation
https://www.bogleheads.org/wiki/Three-fund_portfolio
You can always talk to vanguard about potentially using their pas service and they will give you info on what they will do, then decline to actually do it. Or do it for one quarter as you learn, then cancel it.But you need 50k for them to manage.
You could post more info in the preferred format for more detailed answers.
https://www.bogleheads.org/wiki/Asking_ ... _questions
And just for your info, this process has nothing to do with social security.
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dodecahedron
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Re: Starting the SSRI Paperwork

Post by dodecahedron »

mhalley wrote: Sun Mar 10, 2024 11:19 pm Start with the bogleheads wiki. Setup your account at vanguard. (Or fidelity or Schwab) Setup the account to have tax lots as specific identification. Read the posts getting started, asset allocation and three fund portfolio.
Contact vanguard or fidelity or Schwab) to initiate the transfer IN KIND from your currrent brokerage. You can do this online. If you try to do a push from them, they will drag their feet and are trained on how to convince you that you are making a huge mistake. The major pitfall would be selling and owing cap gains taxes.
https://www.bogleheads.org/wiki/Getting_started
https://www.bogleheads.org/wiki/Asset_allocation
https://www.bogleheads.org/wiki/Three-fund_portfolio
You can always talk to vanguard about potentially using their pas service and they will give you info on what they will do, then decline to actually do it. Or do it for one quarter as you learn, then cancel it.But you need 50k for them to manage.
You could post more info in the preferred format for more detailed answers.
https://www.bogleheads.org/wiki/Asking_ ... _questions
Agree with pretty much all of the above at least for the taxable account.

Only caution is that transferring assets from your 401k to an IRA at another custodian (eg, Vanguard) probably may not be possible to do in kind since your 401k may have institutional class shares of mutual funds that can’t be transferred in kind but would have to be liquidated to cash prior to transfer resulting in some time out of the market during the transition. Also, depending on your state, your 401k may provide you with asset protection rights you would lose if the proceeds were transferred to an IRA.

On the other hand, there are no tax consequences to selling assets within a 401k or IRA, so full flexibility to optimize holdings within your tax advantaged retirement account without regard to tax issues. No need to worry about things like tax lots within those accounts, unlike your taxable brokerage account.
And just for your info, this process has nothing to do with social security.
Agreed. OP, you may want to edit title of your initial post to a more descriptive subject line to attract additional helpful forum members to contribute.
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dodecahedron
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Re: Starting the SSRI Paperwork

Post by dodecahedron »

FriedOkra wrote: Sun Mar 10, 2024 10:24 pm
dodecahedron wrote: Sun Mar 10, 2024 8:09 pm What is SSRI? Surely not, in this context, Selective Serotonin Reuptake Inhibitor? And also not Social Sciences Research Institute?
Social Security Retirement Insurance. It's the official acronym that the Social Security Administration uses for the program.
Thanks. Never recall seeing it referred to as such, even though I have dealt with thousands of SSA-1099s from folks collecting it over the years at the VITA site I coordinate, and even though I personally have been collecting it for years. Still not sure that it belongs in the title of this thread.
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nisiprius
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Re: Starting the SSRI Paperwork

Post by nisiprius »

FriedOkra wrote: Sun Mar 10, 2024 10:24 pm
dodecahedron wrote: Sun Mar 10, 2024 8:09 pm What is SSRI? Surely not, in this context, Selective Serotonin Reuptake Inhibitor? And also not Social Sciences Research Institute?
Social Security Retirement Insurance. It's the official acronym that the Social Security Administration uses for the program.
Really? Not OASDI?
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
Geologist
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Re: Starting the SSRI Paperwork

Post by Geologist »

Whether it is the official name or not, nothing associated with Social Security appears for me in the first 45 results when I google "SSRI" (they are all associated with what dodecahedron reported in the first reply). This shows the weakness of using abbreviations that people have trouble deciphering. There has clearly been no savings of time (or anything else) from the use of this abbreviation in the thread title.

Having said that, I don't understand the link between starting Social Security paperwork and the OP's text in their first post asking about how to invest.
FriedOkra
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Re: Starting the SSRI Paperwork

Post by FriedOkra »

First result if you combine SSRI and Social Security on Google: https://www.ssa.gov/open/data/RSI.html
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arcticpineapplecorp.
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Re: Starting the SSRI Paperwork

Post by arcticpineapplecorp. »

TTR wrote: Sun Mar 10, 2024 7:20 pm I am in this current position....
I have half of our retirement investments with a manager. The other half is in my 401k.
It's a mix of investment options.
I am feeling a need to move from the manager to Vanguard, including the 401k.
Trouble trying to understand how to position investment. I do not understand the products.
Will a PAS with Vanguard give me a good foundation of understanding and decision making?
did you ask them to answer these questions/confusions you have? I believe you're entitled to a free consultation. If you don't have confidence you understand the answers to your questions, you don't have to change anything. Though even though you fear costs as a result of changing, there can be costs for not changing too.

do you have an actual question about starting your social security paperwork? If not, you might want to edit/change the title of this post because people are probably reading your post wondering what questions you have about that item and how to help you with that, yet your post is about moving funds to vanguard, which doesn't have anything (in and of itself) to do with social security.

welcome to the group.
It's hard to accept the truth when the lies were exactly what you wanted to hear. Investing is simple, but not easy. Buy, hold & rebalance low cost index funds & manage taxable events. Asking Portfolio Questions | Wiki
Topic Author
TTR
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by TTR »

I am speaking with them tomorrow.
I do not have questions regarding my SSI forms.

I took your advice and changed the title of this thread..

"Thinking of Switching From Big Name Manager to Vanguard"

How is it reccomended to display ones financial specifics both accurately and annonymously?
OpenDelta
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by OpenDelta »

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22twain
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by 22twain »

TTR wrote: Tue Mar 26, 2024 2:30 pm How is it reccomended to display ones financial specifics both accurately and annonymously?
viewtopic.php?f=1&t=6212
Meet my pet, Peeve, who loves to convert non-acronyms into acronyms: FED, ROTH, CASH, IVY, ...
Topic Author
TTR
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by TTR »

Thanks For This!!

Where do I post this information once it is complete?
DIYtrixie
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by DIYtrixie »

TTR wrote: Wed Mar 27, 2024 7:07 pm Thanks For This!!

Where do I post this information once it is complete?
Add the information by editing your original post (OP) using the little pencil icon next to that post.
DIYtrixie
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by DIYtrixie »

TTR wrote: Wed Mar 27, 2024 7:07 pm Thanks For This!!

Where do I post this information once it is complete?
Add the information by editing your original post (OP) using the little pencil icon next to that post.
Topic Author
TTR
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by TTR »

OK..
My 401k was easy to get the percentage of asset in type in the fund, but my wellsfargo doesn't display that.
It is a mess of duplicated vehicles across investment categories. Plus I have taxable account with stocks and bonds etc..
How should I display this?
DIYtrixie
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by DIYtrixie »

TTR wrote: Wed Mar 27, 2024 7:23 pm OK..
My 401k was easy to get the percentage of asset in type in the fund, but my wellsfargo doesn't display that.
It is a mess of duplicated vehicles across investment categories. Plus I have taxable account with stocks and bonds etc..
How should I display this?
Sounds like for Wells Fargo you’ll need to do the math yourself. It might take a while, but it’s 100% worth it: there’s no other way to learn what you have, and what your asset allocation actually is. And you’ll get much better advice, more targeted for your specific situation, after going though the process.
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TTR
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by TTR »

I was able to locate it but couldn't export it cleanly, but her is what I have regarding the investments.
I will ad my other assets tomorrow. I hope this is not too messy, I am rushing because I meet with a Vanguard PAS tomorrow.
Thank You to All!

401K
Invesco Stable Asset Fund - ADPZ Class 37.09%

MFS Value Fund - Class R6 9.95%

Fidelity 500 Index Fund 23.14% 

T Rowe Price Blue Chip Growth Fund - Class I 5.49%
Victory Sycamore Established Value Fund - Class R6 11.36%

American Funds New Perspective Fund - Class R6 8.21%

DFA Real Estate Securities Portfolio - Institutional Class 4.75%

Securities Taxable
MU 
MICRON TECHNOLOGY INC 8.8%
XPO XPO INC 4.25%

FDX 
FEDEX CORPORATION 4.04%
CVS CVS HEALTH 3.35%

MPC 
MARATHON PETROLEUM CORP 2.77%
VLO 
VALERO ENERGY CORP NEW 2.36%
EQH 
EQUITABLE HOLDINGS INC 2.03%
USB 
US BANCORP NEW 1.89%
PFE PFIZER INCORPORATED 1.85%

META META PLATFORMS INC 1.73%

CI CIGNA CORP NEW 1.53%

PRU 
PRUDENTIAL FINANCIAL INC 1.32%
JPM JPMORGAN CHASE & CO 1.12%

EG 
EVEREST GROUP LTD 11.11%
BAC BANK OF AMERICA CORP 1.06%

APO APOLLO GLOBAL MGMT INC 1.01%

STWD STARWOOD PROPERTY TR INC 1%

HUM HUMANA INC .98%

BMY BRISTOL MYERS SQUIBB .97%

GXO 
GXO LOGISTICS INC .74%
PARA 
PARAMOUNT GLOBAL .54%
LEN LENNAR CORPORATION .47%

GPN 
GLOBAL PAYMENTS INC .46%
AMCX 
AMC NETWORKS INC .42%
BFH 
BREAD FINANCIAL HOLDINGS .42%
JAZZ 
JAZZ PHARMACEUTICALS PLC .34%
WDC 
WESTERN DIGITAL CORP .14%

Preferred Stock
RF.B 
REGIONS FINL VAR PFD 3.47%
USB.H US BANCORP DEL PERPTL 2.04%

ATH.C ATHENE HOLDING 6.375%PFD .92%

ETFs
MTUM ISHARES EDGE MSCI ETF 2.37%

SIVR ABRDN SILVER ETF 1.14%

SGOL 
ABRDN GOLD ETF .96%
PPLT 
ABRDN PLATINUM ETF .93%

Mutual Funds
Money Market
WMPXX 
ALLSPRING MONEY MKT PREM 15.59%
Open End
AHLYX AMERICAN AHL MANAGED Y 4.47%

GIBIX 
GUGG TOTAL RETURN INSTL 3.84%
GSIMX GOLDMAN SACHS GQG INSTL 2.82%

TSIIX THORNBURG INVT STR INC I 2.63%

APDYX 
ARTISAN DEV WORLD ADVSR 2.01%
APDFX 
ARTISAN HIGH INCM ADVR 1.54%
SGIIX 
FIRST EAGLE GLOBAL FD I 1.34%
LOTIX LOCORR MARKET TREN CL I 1.10%

GIOIX 
GUGG MACRO OPPTYS INSTL .94%
NHMRX 
NUVEEN HGH YLD MUNI BD-I .63%
LBNYX 
LORD ABBETT BOND DEBT I .53%
Closed End
PHYS 
SPROTT PHYSICAL GOLD TR 2.10%
PSLV 
SPROTT PHYSICAL SLVR .69%
Topic Author
TTR
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by TTR »

Sorry I haven't feed more details... I some how got directed to https://bogle.tools
Is this the place I should plug in all my data?
Is it then exportable? I'm not sure how this works.

Or are you saying to just enter the info into a post?

DIYtrixie wrote: Wed Mar 27, 2024 7:46 pm
TTR wrote: Wed Mar 27, 2024 7:23 pm OK..
My 401k was easy to get the percentage of asset in type in the fund, but my wellsfargo doesn't display that.
It is a mess of duplicated vehicles across investment categories. Plus I have taxable account with stocks and bonds etc..
How should I display this?
Sounds like for Wells Fargo you’ll need to do the math yourself. It might take a while, but it’s 100% worth it: there’s no other way to learn what you have, and what your asset allocation actually is. And you’ll get much better advice, more targeted for your specific situation, after going though the process.
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bertilak
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by bertilak »

TTR wrote: Wed Mar 27, 2024 8:30 pm ... a HUGE mass of investments ...
Someone has done you a massive disservice to get you into this mess! You are wise to want to clean it up. The advice given by mhalley is where you need to start...
mhalley wrote: Sun Mar 10, 2024 9:59 pm ...
Some immediate steps:
Turn off dividend investment
Sell funds with capital losses
Sell funds with gains to equal the amount of losses
Figure how mipuch extra tax you are willing to pay each year to unwind the portfolio over a few years
This means you need to understand the current state of things: unrealized gain and losses. That may be the hard part to itemize.

Other than that, the specifics of what you have are not at all important.

BUT FIRST (or at the same time)
You need to decide and define what you want instead of that complex collection. A place to start is
here https://www.bogleheads.org/wiki/Three-fund_portfolio
and a companion forum topic: viewtopic.php?t=88005

You need a goal before you can formulae a plan of how to get there.
May neither drought nor rain nor blizzard disturb the joy juice in your gizzard. -- Squire Omar Barker (aka S.O.B.), the Cowboy Poet
Topic Author
TTR
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by TTR »

I am trying to pull this all together.
It is going to take time to get this all in the Bogle.tools

I have a few vehicles that don't have a type to assign them in the web Bogle.tool app.

I am going to reach out to the developer.

My main issue with posting the info is there are so many entries ie transactions across the 4 investment accounts.
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bertilak
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by bertilak »

TTR wrote: Sat Mar 30, 2024 10:01 pm I am trying to pull this all together.
It is going to take time to get this all in the Bogle.tools

I have a few vehicles that don't have a type to assign them in the web Bogle.tool app.

I am going to reach out to the developer.

My main issue with posting the info is there are so many entries ie transactions across the 4 investment accounts.
My advice us to ignore all that for now. Figure out where you are and where you want to be.

My guess us that 90+% of the people here never even heard of "Bogle Tools" and have done just fine without it. Don't over-think things.
May neither drought nor rain nor blizzard disturb the joy juice in your gizzard. -- Squire Omar Barker (aka S.O.B.), the Cowboy Poet
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TTR
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by TTR »

"My advice is to ignore all that for now. Figure out where you are and where you want to be."

I agree, but how can I convey the current monies, the accounts and types it is in and the current gains or losses on items?

I would really like to here some feedback and I don't think I can get it with out the visual.
bertilak wrote: Sun Mar 31, 2024 9:27 am
TTR wrote: Sat Mar 30, 2024 10:01 pm I am trying to pull this all together.
It is going to take time to get this all in the Bogle.tools

I have a few vehicles that don't have a type to assign them in the web Bogle.tool app.

I am going to reach out to the developer.

My main issue with posting the info is there are so many entries ie transactions across the 4 investment accounts.
My advice us to ignore all that for now. Figure out where you are and where you want to be.

My guess us that 90+% of the people here never even heard of "Bogle Tools" and have done just fine without it. Don't over-think things.
dorster
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by dorster »

TTR wrote: Sat Mar 30, 2024 10:01 pm I am trying to pull this all together.
It is going to take time to get this all in the Bogle.tools

I have a few vehicles that don't have a type to assign them in the web Bogle.tool app.

I am going to reach out to the developer.

My main issue with posting the info is there are so many entries ie transactions across the 4 investment accounts.
Just to be clear. I think bogle.tools is something that a forum participant may have created. It isn't as far as I know associated with this forum. I have never used it (and while I'm sure it may be "cool") I'm suspicious that its useful for your purposes. Most people in your situation do not use bogle.tools and have no need for it.

I think bogle.tools is just a website you stumbled on that happens to have a similar name to this forum.
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by Parkinglotracer »

I’d consider having vanguard handle your transfer and coordination of account for their low charge annually

Then after you are more comfortable with it, go solo .
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bertilak
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by bertilak »

Parkinglotracer wrote: Sun Mar 31, 2024 9:50 am I’d consider having vanguard handle your transfer and coordination of account for their low charge annually

Then after you are more comfortable with it, go solo .
Good point. Vanguard will handle the transfer from your current brokerage. They want your business so will put some effort into smoothing the transition.

You appear to be a good candidate for Vanguard's Personal Advisory Service (PAS).
May neither drought nor rain nor blizzard disturb the joy juice in your gizzard. -- Squire Omar Barker (aka S.O.B.), the Cowboy Poet
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TTR
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Re: Thinking of Switching From Big Name Manager to Vanguard

Post by TTR »

Hello,


I added details of my financial state into this post. Should I create a new post to another forum title?


Thank You
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