Really – that’s not a good thing. The three brokerages with a rep for low cost/decent funds are Fidelity, Vanguard, and Schwab… with Vanguard being the lowest cost- but least service, and Fidelity being more expensive, but good service… and Schwab in the middle.
I’ve got money at all three – but have been migrating it all to Schwab. I’ll need to check what fees I’ll incur if I roll an old IRA out of Fidelity.
[quote=UCGal]Really – that’s not a good thing. The three brokerages with a rep for low cost/decent funds are Fidelity, Vanguard, and Schwab… with Vanguard being the lowest cost- but least service, and Fidelity being more expensive, but good service… and Schwab in the middle.
I’ve got money at all three – but have been migrating it all to Schwab. I’ll need to check what fees I’ll incur if I roll an old IRA out of Fidelity.[/quote]
We’ll I’ve been consolidating to schwab. And I’m getting hit with fees moving out of fidelity.
[quote=spdrun]Why not go with an online brokerage house?[/quote]
You mean like Schwab?
But seriously most employers 401k is administered by Fidelity… (Well at least in S.D.)
I rolled money into my 401k because I thought about consolidating around that…But then I noticed the selection of investments in that plan stunk…
Speaking of online brokerage firms, a lot of them have ridiculous fees too… TD Ameritrade is one of them….. If I close an account, they want me to pay $75… However if I keep the account open with $0, there is no fee…Totally stupid.
I meant Scottrade which I’ve been consistently happy with. Mostly online, but also has a physical location 5 min walk from me if I need something out of the ordinary done.
Schwab’s running a bunch of promotions right now…If you’re planning on moving money in, might as well get the freebie.
For post-tax accounts
*If you move in $50k, get a kindle fire, or $200 apple gift card, or if you ask 50 free trades for 90 days
For IRA accounts
*If you move in $50k, same offer as above, OR $250 cash back.
Generally, limited to one transfer. But if you plan on moving multiple accounts, ask…It’s “negotiable”…. I opted for the free trades in both accounts since I need them 🙂
Also if you move in $250k or more, get a free ipad… Not sure if that’s worth it though….
Interesting. Thanks Flu.
I’ve mostly consolidated to Shwab and my last account at fidelity is a really old rolled IRA. (almost 20 years since I rolled it.)
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