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Post by anitya on Mar 30, 2024 20:31:07 GMT
Along the lines of what win1177 said, in my experience, Schwab is not good for DAF, Trust, etc accounts because the teams that run those departments are not customer friendly and their administration is pretty poor. Vanguard is not much better for those needs. But Schwab should be fine for run of the mill needs like a regular brokerage account. TD Ameritrade was so much better than Schwab for everything TD did, though they did not do everything Schwab does. Next time I need a non-run of the mill need, I will try Fidelity to see if they are better. The few conversations I had with Fidelity when I had issues with Schwab and Vanguard about non-brokerage matters, Fidelity came across as if they are better organized and have better systems and procedures in place. Let us see. Fidelity has one of the best HSA accounts in the market place. Sadly, my HSA is stuck somewhere else. |
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Post by richardsok on Mar 30, 2024 20:55:48 GMT
I have accounts in TDAmeritrade, Schwab and Merrill Lynch.
I keep Merrill for its concierge services, research bulletins and ultra low credit card interest (though I generally pay everything off at once anyway). Downside: Merrill's charting is simplistic and will not apply some indicators I use daily. Second downside -- Merrill maintains a constantly updated "no go" list and will often refuse to enter "buy" orders for me for assets it doesn't like -- and will not explain itself; just blocks the trade..
Our TDAm accounts (mine & the wife's) are about to be folded into Schwab next month, so simplifying is on the way. I started with TDAm b/c I wanted a link to thinkorswim charting platform.
I always liked TDA charts better than Schwab charts. The ONE advantage Schwab charts had over TDA is that when you are comparing the lines of different stocks or ETFs on one chart, TDA only allowed you to make 3 or 4 overlay comparisons per chart, but Schwab has allowed me to compare ten or more overlay line comparisons on a single chart.
Another thing I like about Schwab is the way they handle CEFs. For each, they offer a simple graphic showing how much (by percentage) recent distributions have been paid from earnings, from cap gains or from ROC. No one else does this, AFAIK.
But I NEVER use Schwab for technical charting. Its charting GUI feels crude.
Stockcharts.com or Yahoo! (on the MicroEdge platform, not Firefox or Google) will let you tinker with your MAvgs all you want. Stockcharts will let you use the Heiken-Ashi candles as well as the Heikin-Ashi SMOOTHED signals for fewer trades, but only thinkorswim.com offers PPS on their charting platform. Very sophisticated stuff which I find useful.
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Post by acksurf on Mar 30, 2024 21:03:14 GMT
Not many people live close too fidelity brick and mortar offices. Of course, I do, about 40 miles away, because I live in high net worth client areas!  I agree re Vangd poor service in last half decade. Perhaps why CEO is leaving. It is top complaint at vangd. Stop advertising and put that money towards more service. Who need more in assets...you're a non-profit? BTW on fido forum lots of complaints also. But vangd very poor for now. R48 I live close enough to the closest Fidelity brick and mortar (Vero Beach about 1 hour away) for the very infrequent times I need to visit. |
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kent
Ensign
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Post by kent on Mar 31, 2024 0:29:58 GMT
Along the lines of what win1177 said, in my experience, Schwab is not good for DAF, Trust, etc accounts because the teams that run those departments are not customer friendly and their administration is pretty poor. Vanguard is not much better for those needs. But Schwab should be fine for run of the mill needs like a regular brokerage account. TD Ameritrade was so much better than Schwab for everything TD did, though they did not do everything Schwab does. Next time I need a non-run of the mill need, I will try Fidelity to see if they are better. The few conversations I had with Fidelity when I had issues with Schwab and Vanguard about non-brokerage matters, Fidelity came across as if they are better organized and have better systems and procedures in place. Let us see. Fidelity has one of the best HSA accounts in the market place. Sadly, my HSA is stuck somewhere else. , My HSA was with different entity, I moved to Fidelity last year with no issues. |
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kent
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Post by kent on Mar 31, 2024 0:34:31 GMT
I have assets with Vanguard, Fidelity, etrade(my work options) and Wellstrade. I started with Wellstrade around 2000 because they use to give you free trades for mutual funds each year, not anymore. I live near villages approx. 6 months, so Fidelity is couple of miles from my house. I have not used their office yet.
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Post by gman57 on Mar 31, 2024 0:49:23 GMT
Not many people live close too fidelity brick and mortar offices. Of course, I do, about 40 miles away, because I live in high net worth client areas! R48 Wow, I must live among billionaires, less than 8 miles for me to a Fidelity office  |
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Post by saratoga on Mar 31, 2024 1:31:10 GMT
right now, i'm split about evenly between fidelity and schwab, with a pittance at vanguard, but i'm thinking of transferring everything to schwab. then again, some reptilian-type voice keeps saying, nope, don't put all your eggs in one basket. what do ya'll do? i'm trying to simplify things and i do like schwab better than fidelity and vanguard, so .... I have assets in multiple places. Other than at Vanguard where I feel comfortable with their low cost system, I wanted to access TRAIX (T. Rowe Price), TIAA Traditional, TIAA Real Estate (TIAA), FDGRX (Fidelity). I do have a small investment at Schwab which I am thinking of moving to Fidelity or Vanguard. Since you are contemplating an opposite move, may I ask you what you like at Schwab better than at Fidelity? I also plan to consolidate but slowly. Eventually, I will probably have Vanguard and T. Rowe Price left. T. Rowe Price is no place for traders at this time but they have some excelllent funds including TRAIX, PNAIX, PCCOX at reasonable (but not cheap) costs. |
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Post by catdog on Mar 31, 2024 1:37:26 GMT
retiredat48, We live in Lisbon NH and have made two trips to Fidelity offices. First one was Portland Me. The second was San Diego. Neither was an emergency so we made a road trip and vacation out of it. Sometimes it's nice to be old enough to be retired. catdog
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Post by retiredat48 on Mar 31, 2024 4:14:53 GMT
retiredat48 , We live in Lisbon NH and have made two trips to Fidelity offices. First one was Portland Me. The second was San Diego. Neither was an emergency so we made a road trip and vacation out of it. Sometimes it's nice to be old enough to be retired. catdog The offices are friendly places to visit. Been a few times. But frankly I have done OK in over 50 years of investing w/o having/visiting offices. BTW I have been given tours of Vanguards complex in Valley Forge area (Phila area), their home. @ gman57 ,...my Fido branch is in Palm Beach FL area, home to many, many billionaires. What beats all this: On my wall is a framed handwritten letter to me signed by Vanguard founder that reads: "Congratulations ___________R48________for retiring at age 48 using Vanguard philosophies and techniques. Signed: J. Bogle."Priceless. R48 |
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Post by chang on Mar 31, 2024 6:25:16 GMT
I’ve been to the Fido office in Chestnut Hill, Mass., a couple of times, which was only 10 mins drive from where we lived. Also to the office on Boylston St. in Boston once or twice. Always helpful, and I still have some of their free pens. They make good coffee. Not essential, though, especially nowadays. (I mean the offices, not the coffee.)
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Post by keppelbay on Mar 31, 2024 6:47:07 GMT
Another thing I like about Schwab is the way they handle CEFs. For each, they offer a simple graphic showing how much (by percentage) recent distributions have been paid from earnings, from cap gains or from ROC. No one else does this, AFAIK. richardsok , this is a bit off topic, but I hope useful: i suggest you don't place too much credence in those CEF earnings breakdowns. Schwab probably source the information from Morningstar, as do CEF connect and Fidelity. (at Fido, look under the distribution and expenses tab). Unfortunately, the breakdown data is very often inaccurate*. If you want data you can trust, you would be better off going to the fund sponsor website.
Example: they show data for the full 3 months of Q1 24 for PIMCO CEFs, which takes some imagination, given that the March data has not been released (19a forms or UNII report)... Historical data are pure fiction too, as they don't update after year-end tax reporting provides the definitive sourcing. go figure... but DIY.
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Post by Norbert on Mar 31, 2024 7:10:07 GMT
Am 100% with Fido.
Their Marin County office was extremely helpful after a divorce, being willing to spend hours dividing up assets in an unconventional way, as agreed with my Ex. They're easy to do business with.
Small complaint: Fidelity won't accept foreign phone numbers or addresses. So, I can't do two factor logon verification; I use my Ex's US address for any paper mailings (of which I think there are none these days).
Also, can't do any direct foreign money transfers at reasonable cost. But, have easy workarounds in place.
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Post by keppelbay on Mar 31, 2024 7:15:38 GMT
now, on topic:
I use Fidelity for my US-based stuff. I've had an acount with them for decades. I like their website and online services. The routine stuff works. I've found them to be pretty good when I've needed non-standard stuff. On the other hand, their in person office-based advisory staff were a total waste of time.
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Post by chang on Mar 31, 2024 9:59:51 GMT
Small complaint: Fidelity won't accept foreign phone numbers or addresses. So, I can't do two factor logon verification; I use my Ex's US address for any paper mailings (of which I think there are none these days). I have a US mobile phone number (and address). It's an irritating expense, but necessary. Not just Fido, but other banks and organizations need a US phone number. Oddly enough, Vanguard -- notorious for its 16th century technology -- can send SMS codes to foreign phones. |
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Post by anitya on Mar 31, 2024 10:26:37 GMT
kent, my HSA said investments must be liquidated and then move cash. Upon liquidation, my state will tax as they do not recognize HSAs.
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Post by anitya on Mar 31, 2024 10:30:14 GMT
Not many people live close too fidelity brick and mortar offices. Of course, I do, about 40 miles away, because I live in high net worth client areas! R48 Wow, I must live among billionaires, less than 8 miles for me to a Fidelity office I have a Fido branch within 5 miles and have at least 5 branches with 15 miles radius. |
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Post by flipperxxx on Mar 31, 2024 12:08:13 GMT
I have accounts in TDAmeritrade, Schwab and Merrill Lynch. I keep Merrill for its concierge services, research bulletins and ultra low credit card interest (though I generally pay everything off at once anyway). Downside: Merrill's charting is simplistic and will not apply some indicators I use daily. Second downside -- Merrill maintains a constantly updated "no go" list and will often refuse to enter "buy" orders for me for assets it doesn't like -- and will not explain itself; just blocks the trade.. Our TDAm accounts (mine & the wife's) are about to be folded into Schwab next month, so simplifying is on the way. I started with TDAm b/c I wanted a link to thinkorswim charting platform. I always liked TDA charts better than Schwab charts. The ONE advantage Schwab charts had over TDA is that when you are comparing the lines of different stocks or ETFs on one chart, TDA only allowed you to make 3 or 4 overlay comparisons per chart, but Schwab has allowed me to compare ten or more overlay line comparisons on a single chart. interesting that you say that about merrill, re its 'no go' list. i ran into that just last week. called em up to ask about it, was told that's the way it is, hung up, moved all my cash out of merrill and into schwab. the only reason i keep my merrill accounts open is that my combined balances keep me from getting fee'd to death at bank of america. the remaining stuff will continue to do that.
i love the thinkorswim charting platform as well as the community surrounding it. nothing like it, imo.
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Post by Fearchar on Mar 31, 2024 12:57:26 GMT
I keep Merrill for its concierge services, research bulletins and ultra low credit card interest (though I generally pay everything off at once anyway). Downside: Merrill's charting is simplistic and will not apply some indicators I use daily. Second downside -- Merrill maintains a constantly updated "no go" list and will often refuse to enter "buy" orders for me for assets it doesn't like -- and will not explain itself; just blocks the trade.. richardsok; A "no go" list is an intriguing concept, but too bad as you say they do not provide an explanation. Could be because it's inappropriate for investors OR because it competes with inferior products that they offer. For example, I know that neither Fidelity or Schwab allows one to buy VMFXX, which is superior (IMO) to their offerings. Schwab though does grade stocks with their algorithm, which is nice. Who would want to buy a stock that gets an "F" by the broker? They don't block it, just warning you. Of course if Merrill is constantly updating the list, that suggest some sort of judgement on their part. So, would you mind sharing some current examples? |
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Post by retiredat48 on Mar 31, 2024 14:31:08 GMT
anitya, richardsok, acksurf, kent, gman57, saratoga, catdog, retiredat48, chang, keppelbay, Norbert, flipperxxx, Fearchar, Are bitcoin ETFs on the MLynch no-go list?
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kent
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Post by kent on Mar 31, 2024 17:15:50 GMT
anitya,Interesting my transfer was non taxable. I had money in the older account in cash, they did not had an option to invest and money was moved without tax implications.
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Post by catdog on Mar 31, 2024 19:59:03 GMT
While I was just chuckling to myself thinking there are certainly no billionaires in Lisbon NH, I remembered that Alex Karp (CEO Palantir Tech) owns a compound here.
catdog
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Post by richardsok on Apr 1, 2024 3:48:08 GMT
I keep Merrill for its concierge services, research bulletins and ultra low credit card interest (though I generally pay everything off at once anyway). Downside: Merrill's charting is simplistic and will not apply some indicators I use daily. Second downside -- Merrill maintains a constantly updated "no go" list and will often refuse to enter "buy" orders for me for assets it doesn't like -- and will not explain itself; just blocks the trade.. richardsok; A "no go" list is an intriguing concept, but too bad as you say they do not provide an explanation. Could be because it's inappropriate for investors OR because it competes with inferior products that they offer. For example, I know that neither Fidelity or Schwab allows one to buy VMFXX, which is superior (IMO) to their offerings. Schwab though does grade stocks with their algorithm, which is nice. Who would want to buy a stock that gets an "F" by the broker? They don't block it, just warning you. Of course if Merrill is constantly updating the list, that suggest some sort of judgement on their part. So, would you mind sharing some current examples? I can only give you my experience. Anything on the SP500 is good, also OK are most other equities if they aren't penny stocks or on the pink sheets. Am not sure where they draw the line on foreign stocks. Recently they wouldn't let me buy some PFLD. They also say uh-uh to a host of 2x and 3x leveraged ETFs. They have frowned on inverse ETFs like SH, SDS, FNGD etc., even if you want to use them as a protective hedge for a large long equity position. Probably won't accept ETNs like GLDI or SLVO, I'm guessing. I've never tried bond directionals like TBF/TBT, UST/PST. I'd bet no, though. |
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Post by richardsok on Apr 1, 2024 3:52:37 GMT
Another thing I like about Schwab is the way they handle CEFs. For each, they offer a simple graphic showing how much (by percentage) recent distributions have been paid from earnings, from cap gains or from ROC. No one else does this, AFAIK. richardsok , this is a bit off topic, but I hope useful: i suggest you don't place too much credence in those CEF earnings breakdowns. Schwab probably source the information from Morningstar, as do CEF connect and Fidelity. (at Fido, look under the distribution and expenses tab). Unfortunately, the breakdown data is very often inaccurate*. If you want data you can trust, you would be better off going to the fund sponsor website.
Example: they show data for the full 3 months of Q1 24 for PIMCO CEFs, which takes some imagination, given that the March data has not been released (19a forms or UNII report)... Historical data are pure fiction too, as they don't update after year-end tax reporting provides the definitive sourcing. go figure... but DIY.
Oh, I agree entirely, kep. the only ones I rely on are the CEFs Schwab reports as 100% earned distribs.. I suppose even if the 100% isn't quite kosher, the coverage is probably at least pretty decent. |
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Post by johntaylor on Apr 5, 2024 15:24:03 GMT
We do business with several of the usual suspects like Vanguard, T Rowe, etc but one "shell" would be okay too.
Under the 1940 Act, as amended, each fund is a distinct company with assets held by a custodial entity and segregated from other accounts.
Even if the fund manager develops a cocaine addiction and starts hanging at strip clubs, assets should remain with the custodian.
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Post by catdog on Apr 5, 2024 18:38:27 GMT
Yesterday I needed to transfer $100,000 from Fidelity MM to local Bank. I was trying to add the bank so I could do the online transfer myself. I think weather was a problem as we had a large storm yesterday in New England.
Ended up calling a rep at Fidelity. The guy was super helpful. He set up and processed a "Bank Wire" which landed the money in the bank account 15 minutes later. No charge from fidelity and no charge from the bank. I thought that was pretty good.
catdog
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Post by yakers on Apr 23, 2024 16:00:44 GMT
I have 2 institutions, Vanguard (for muual funds) and Wells Fargo for a trading account. Back in the old days their PMA acounts gave free trading, now many places do. Decent trading platform, (information, charts, espically execution). I would like one place but I'm ok for now.
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Post by richardsok on Apr 23, 2024 17:44:40 GMT
As you probably know, TDAmeritrade was recently purchased by Schwab. In past years, I've had my money very roughly divided 30/30/40 TDAm, Schwab, Merrill Lynch. With the merger, I was going to be 60/40 Schw / Mer Lyn. Didn't want that.
So I finally had a good reason to park some of my investments with Fidelity, closing out my expiring TDAm account before the merger was effected. They handled the whole thing over the phone last Friday afternoon, but I've an appointment at their office to meet some of the advisors next Friday. See how it goes. I'm interested to see the difference with the new platform and broker.
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Post by steadyeddy on Apr 25, 2024 2:59:36 GMT
I maintain my stuff at two brokerages... Fidelity & Merrill... just coz if one is down/unavailable/whatever I can draw money from the other. And we have offices for both in the town I live in.
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Post by steadyeddy on Apr 25, 2024 3:01:19 GMT
As you probably know, TDAmeritrade was recently purchased by Schwab. In past years, I've had my money very roughly divided 30/30/40 TDAm, Schwab, Merrill Lynch. With the merger, I was going to be 60/40 Schw / Mer Lyn. Didn't want that. So I finally had a good reason to park some of my investments with Fidelity, closing out my expiring TDAm account before the merger was effected. They handled the whole thing over the phone last Friday afternoon, but I've an appointment at their office to meet some of the advisors next Friday. See how it goes. I'm interested to see the difference with the new platform and broker. , I would love to hear your feedback on how the conversation goes with Fidelity. They have been bugging me forever but I keep pushing it out. I suspect they would want to sell their advisory business -  |
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Post by catdog on Apr 29, 2024 0:45:52 GMT
Oh yes. They will definitely be bugging you to speak with one of their specialists. They will go away if you are firm with them. They also seem to create this feeling that they are very much in demand. Oh well, good for people who don't have any interest and a lot of money.
catdog
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