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Post by chang on Dec 23, 2020 5:39:52 GMT
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Post by steadyeddy on Dec 23, 2020 20:07:52 GMT
Chase Private Client bonus offer ($2,000 for $250K assets, and $3,000 for $500K assets) includes moving assets to either JP Morgan brokerage or Chase Bank or a combination of both. |
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Post by anitya on Dec 24, 2020 5:31:53 GMT
Chase Private Client bonus offer ($2,000 for $250K assets, and $3,000 for $500K assets) includes moving assets to either JP Morgan brokerage or Chase Bank or a combination of both. Chase promotion looked very good. I found this Link for Chase promotion - account.chase.com/consumer/banking/chaseprivateclientLooks I will have to open a brokerage. We hardly ever talk about Chase brokerage. Does any one here have experience with it? |
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Post by steadyeddy on Dec 24, 2020 22:20:18 GMT
Chase Private Client bonus offer ($2,000 for $250K assets, and $3,000 for $500K assets) includes moving assets to either JP Morgan brokerage or Chase Bank or a combination of both. Chase promotion looked very good. I found this Link for Chase promotion - account.chase.com/consumer/banking/chaseprivateclientLooks I will have to open a brokerage. We hardly ever talk about Chase brokerage. Does any one here have experience with it? I have moved my assets the first week of December into JP Morgan Full Service Brokerage account. It was created by an Advisor but there are no other fees associated with it. I am using it as a self-directed brokerage. I did not have to go to a Chase bank in person, all done over the phone. So far so good. |
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Post by racqueteer on Dec 24, 2020 22:53:36 GMT
Just a comment on Chase... I opened one of thier checking accounts a while back. There is usually a time limit to do this and that. That's all well and fine unless THEY bungle things (or do it purposely) so that you can't meet the deadlines. I had no account numbers (waiting for a "welcome" package which never came), so I couldn't fund the account in a timely fashion. When I DID fund it, no one bothered to point out any problem until AFTER the money had been in place for 3 months per requirements. So my money was tied up and they didn't have to pay me the bonus. I got zero feedback at any point. IAE, I wouldn't count on Chase to live up to any 'agreement' they might make. Your mileage may vary, but I subsequently found several reviews of people who had had similar problems with Chase.
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Post by anitya on Dec 25, 2020 0:54:31 GMT
I have moved my assets the first week of December into JP Morgan Full Service Brokerage account. It was created by an Advisor but there are no other fees associated with it. I am using it as a self-directed brokerage. I did not have to go to a Chase bank in person, all done over the phone. So far so good. Only if you know the answers off hand (no need to research for me) - Does their brokerage offer all mutual funds you may be interested in? Years ago I looked at them because I have banking relationship from legacy WAMU and their brokerage did not allow institutional class and / or load waived investor class funds that I was interested in. Also, are they commissions free on all stocks and ETF trades? |
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Post by steadyeddy on Dec 25, 2020 15:24:30 GMT
I have moved my assets the first week of December into JP Morgan Full Service Brokerage account. It was created by an Advisor but there are no other fees associated with it. I am using it as a self-directed brokerage. I did not have to go to a Chase bank in person, all done over the phone. So far so good. Only if you know the answers off hand (no need to research for me) - Does their brokerage offer all mutual funds you may be interested in? Years ago I looked at them because I have banking relationship from legacy WAMU and their brokerage did not allow institutional class and / or load waived investor class funds that I was interested in. Also, are they commissions free on all stocks and ETF trades? I know the answers off-hand: JPM full brokerage does NOT support mutual fund trading but all stocks/ETFs/CEFs etc are commission-free. They have a self-directed YouInvest platform which interestingly enough supports many mutual funds like Vanguard and Fidelity as well; they are NTF in YouInvest. And, of course, YouInvest is also commission free for stocks, etfs etc. But for the cash bonus YouInvest does NOT count. What I intend to do is to move assets from Full Brokerage to YouInvest once I get the cash bonus and take advantage of mutual funds also. |
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Post by anitya on Dec 25, 2020 20:14:31 GMT
Only if you know the answers off hand (no need to research for me) - Does their brokerage offer all mutual funds you may be interested in? Years ago I looked at them because I have banking relationship from legacy WAMU and their brokerage did not allow institutional class and / or load waived investor class funds that I was interested in. Also, are they commissions free on all stocks and ETF trades? I know the answers off-hand: JPM full brokerage does NOT support mutual fund trading but all stocks/ETFs/CEFs etc are commission-free. They have a self-directed YouInvest platform which interestingly enough supports many mutual funds like Vanguard and Fidelity as well; they are NTF in YouInvest. And, of course, YouInvest is also commission free for stocks, etfs etc. But for the cash bonus YouInvest does NOT count. What I intend to do is to move assets from Full Brokerage to YouInvest once I get the cash bonus and take advantage of mutual funds also. Thank you very much. I was hoping to get rid of a brokerage if I open a new one. This offer is limited to taxable account, which means transfer of correct cost basis is very important; otherwise, one could end up spending a lot of time fixing cost basis errors, irrespective of which brokerage’s fault it is. I will have to think if 2-3k bonus (before tax) is worth the potential collateral effects. Otherwise, generous offer though. |
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Post by Capital on Dec 26, 2020 16:10:43 GMT
I had an Etrade brokerage account about 15 years ago. I did not see anything special about it then. I currently have a Vanguard brokerage account. Not much there except slightly higher MM rates than Fidelity. Fidelity is my main brokerage. I consider this one a keeper for life. I am looking at opening a Schwab brokerage. Mostly for the tools and the things Schwab provides that Fidelity does not. Being at Fidelity many thanks to chang for having this Forum. I missed it a ACI. |
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Post by steadyeddy on Dec 26, 2020 16:28:43 GMT
.... I am looking at opening a Schwab brokerage. Mostly for the tools and the things Schwab provides that Fidelity does not. .... Capital, Can you please elaborate on the tools that Schwab has that Fidelity doesn't? I have recently made Fidelity my main brokerage... with some at merrill (for credit card rewards) and some at Chase (for cash bonus). So far I like Fidelity tools such as portfolio analysis, retirement analysis and FullView aggregation service. Thanks Eddy |
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Post by Capital on Dec 26, 2020 16:44:34 GMT
.... I am looking at opening a Schwab brokerage. Mostly for the tools and the things Schwab provides that Fidelity does not. .... Capital, Can you please elaborate on the tools that Schwab has that Fidelity doesn't? I have recently made Fidelity my main brokerage... with some at merrill (for credit card rewards) and some at Chase (for cash bonus). So far I like Fidelity tools such as portfolio analysis, retirement analysis and FullView aggregation service. Thanks Eddy I actually do not have a Schwab account yet so I can not speak to your question. From what I can gleam I do like their interface with the market; but, I am looking to have multiple brokerages to use the various investing tools that each have - looking at finding ways to get more research information on my investments. In addition I am looking for places to keep the cash reserve fund I am currently building to maximize my yield when rates return to normal, whenever that occurs. As I said earlier I will not leave Fidelity. My wife and I already each have Roth IRA, Rollover IRA and HSA Accounts established at Fidelity. In addition we have Joint Brokerage and Money Management Accounts at Fidelity. The Money Management Account is basically our checkbook from which we pay all our bills and receive all our wages and other electronic monies. I really like Fidelity bill pay service. I did not mean to give an impression that Fidelity did not provide me some very good tools. Only that I am looking for more. It appears to me that Fidleity and Schwab are probably going to be the best in class online brokerages. I'm just aligning myself to have the best that they both can offer. |
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Post by Deleted on Dec 26, 2020 17:58:42 GMT
I had an Etrade brokerage account about 15 years ago. I did not see anything special about it then. I currently have a Vanguard brokerage account. Not much there except slightly higher MM rates than Fidelity. Fidelity is my main brokerage. I consider this one a keeper for life. I am looking at opening a Schwab brokerage. Mostly for the tools and the things Schwab provides that Fidelity does not. Being at Fidelity many thanks to chang for having this Forum. I missed it a ACI. I have side accounts at Fidelity and Schwab. Fidelity is for cash management and trading while Schwab is for trading and their AMEX card credits. I find trading at Schwab somewhat simpler than at Fidelity, for example easier to modify an open order. I use Fidelity's Active Trader Pro when trading CEFs, and Fidelity's CEF screener is more comprehensive than Schwab's. |
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Post by anitya on Dec 31, 2020 20:32:57 GMT
Fidelity brokerage can not seem to get its S*** together. I had to talk to a broker for every trade I placed in the past 3 months and a few times I had to escalate to a supervisor to override their archaic behind the UI systems.
I received the following error message today in my taxable account with sufficient margin power and they are still trying to figure out:
"Error:(313012) The Estimated Order Value for this order exceeds your Cash Available to Trade.
Estimated Order Value: $250,049.95
Cash Available to Trade: $15,734.52
100% of the order value is needed in cash.
You must edit this order or increase your Cash Available to Trade before you can place this order. Ways to increase your Cash Available to Trade immediately may include: cancel or replace open orders (e.g., buy orders) or sell one or more positions. If you need assistance, contact a Fidelity Representative at 800-544-6666."
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Post by anitya on Dec 31, 2020 22:02:56 GMT
I ended up speaking with a Fidelity supervisor who insisted the margin power is available only for buying stocks and not to buy mutual funds. He did not say the mutual fund I am trying to buy can not be bought on margin, he argued mutual funds can not be bought on margin, Period. That is so bizarre.
When I pointed out to the supervisor that I had previously done the same transaction online at TD and Schwab, he said that is impossible because margin rules are the same across the industry and I must have a misunderstanding of what is possible at TD and Schwab. I asked him to escalate the matter because either I am a liar or Fidelity has it wrong. He asked me to mail a written request to the complaints department. He knows I am not going to go to the post office to mail a complaint, especially in a pandemic. Felt like I was dealing with a Government office in a third world country.
I end up spending so much time talking to the Fidelity reps and supervisors for simple things I can do online at TD and Schwab, without talking to anybody, I am going to move the account.
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Post by chang on Dec 31, 2020 23:56:39 GMT
Sorry to hear about your travails with Fido. I've been luckier with them and their web site, although I know they are fussy with margin requirements. I am used to doing "within family" exchanges or selling and buying the next day. Good luck!
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stats
Lieutenant
Posts: 53
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Post by stats on Jan 1, 2021 0:35:24 GMT
For Cash Management, I use Capital 1 360 money market, as they pay 1% yield on deposit. Cash management account at Fidelity pays next to nothing. It takes a day to move money back and forth as needed
Stats
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Post by anitya on Jan 1, 2021 0:50:24 GMT
Sorry to hear about your travails with Fido. I've been luckier with them and their web site, although I know they are fussy with margin requirements. I am used to doing "within family" exchanges or selling and buying the next day. Good luck! I was actually selling one and buying another as I try not be out of the market, especially over a three day weekend. My entire cash is about $25K. I was trying to use margin privilege as a prop to stay invested in the market. P.S.: I did not realize I have been posting a lot. I got promoted Lt. and it seems I have posted 30 times over 10 days. I need to step back! |
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Post by chang on Jan 1, 2021 0:56:54 GMT
P.S.: I did not realize I have been posting a lot. I got promoted Lt. and it seems I have posted 30 times over 10 days. I need to step back! On the contrary, you are on your way to Admiral (six stars)! Edit: And time you uploaded an avatar! The default one is creepy imo. |
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Post by anitya on Jan 6, 2021 2:35:47 GMT
Sorry to hear about your travails with Fido. I've been luckier with them and their web site, although I know they are fussy with margin requirements. I am used to doing "within family" exchanges or selling and buying the next day. Good luck! I was actually selling one and buying another as I try not be out of the market, especially over a three day weekend. My entire cash is about $25K. I was trying to use margin privilege as a prop to stay invested in the market. Because Fidelity restricted me to invest only 90% of my selling proceeds on Friday, I invested the remaining 10% by automatic investment feature. Fidelity charged me $49.95 for it. On all prior occasions, when I auto invested in that fund (in other Fido accounts) and other funds, I was charged only $5 commission. I called Fidelity, and they said $49.95 is what the fund is now asking them to charge for auto invest as well. For the first trade on Friday, they charged me $250 commission, even though at the time of placing the trade the broker acknowledged that the broker assistance was required because their system did not allow me to place the trade myself and that I will be charged only the online rate of $49.95. I had to call and be on the line for half an hour to get a credit for $200.05. If I were working I would not have had the time for these Fidelity shenanigans and I probably would not have noticed them overcharging commission. You guys should check each trade after it goes thru. Time to figure out where I am going to move that Fido account. |
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Post by FD1000 on Jan 15, 2021 4:40:57 GMT
I ended up speaking with a Fidelity supervisor who insisted the margin power is available only for buying stocks and not to buy mutual funds. He did not say the mutual fund I am trying to buy can not be bought on margin, he argued mutual funds can not be bought on margin, Period. That is so bizarre. When I pointed out to the supervisor that I had previously done the same transaction online at TD and Schwab, he said that is impossible because margin rules are the same across the industry and I must have a misunderstanding of what is possible at TD and Schwab. I asked him to escalate the matter because either I am a liar or Fidelity has it wrong. He asked me to mail a written request to the complaints department. He knows I am not going to go to the post office to mail a complaint, especially in a pandemic. Felt like I was dealing with a Government office in a third world country. I end up spending so much time talking to the Fidelity reps and supervisors for simple things I can do online at TD and Schwab, without talking to anybody, I am going to move the account. I have been saying this for years. Schwab is a lot better and why I transferred my money years ago. I can and do trading in IRAs without any margin at Schwab without any trouble while my IRA are fully invested most times in mutual funds. I can buy what I want and sell to cover it. I have talked to many Fidelity reps in the past, including supervisors. BTW, any time you sell a fund and want to buy another on the same day, you must call a Fidelity rep and then only 90%. I don't have to suffer anymore because I only have 5% of my money at Fidelity. BTW, Schwab will match any/most cash rewards even if it's not on their site. I copied the ETrade link and email to my local rep, and he took care of it. |
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Post by chang on Jan 15, 2021 4:52:57 GMT
Mileage varies. I opened a Schwab acct a couple years ago (mainly for the $2500) but emptied it out last year. I found the customer service to be poor. While I have never waited more than 30 seconds for a Fido rep, and they've never made a mistake. Perhaps much depends on your individual rep / team. Schwab fees are the worst (including TOA fees). The takeaway is that it's unsafe to generalize.
Since I own all TF funds at Fido, the $5/$0 fee to buy/sell is where Fido blows everyone else away. Plus, they've done some tricky things for me without a hitch. The best actual service I have received, though, is probably from TDA. They have actually erased margin fees and refunded other fees incurred due to my own stupidity, and they're super responsive. Again, YMMV.
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Post by steadyeddy on Jan 19, 2021 14:19:18 GMT
Mileage varies. I opened a Schwab acct a couple years ago (mainly for the $2500) but emptied it out last year. I found the customer service to be poor. While I have never waited more than 30 seconds for a Fido rep, and they've never made a mistake. Perhaps much depends on your individual rep / team. Schwab fees are the worst (including TOA fees). The takeaway is that it's unsafe to generalize. Since I own all TF funds at Fido, the $5/$0 fee to buy/sell is where Fido blows everyone else away. Plus, they've done some tricky things for me without a hitch. The best actual service I have received, though, is probably from TDA. They have actually erased margin fees and refunded other fees incurred due to my own stupidity, and they're super responsive. Again, YMMV. I get most favorable treatment from Merrill. They have given me more trinkets than any other brokerage. I do keep assets there to qualify for Platinum Honors benefit on credit cards. I do agree with the Admin that the mileage varies... |
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Post by FD1000 on Jan 20, 2021 14:52:48 GMT
Mileage varies. I opened a Schwab acct a couple years ago (mainly for the $2500) but emptied it out last year. I found the customer service to be poor. While I have never waited more than 30 seconds for a Fido rep, and they've never made a mistake. Perhaps much depends on your individual rep / team. Schwab fees are the worst (including TOA fees). The takeaway is that it's unsafe to generalize. Since I own all TF funds at Fido, the $5/$0 fee to buy/sell is where Fido blows everyone else away. Plus, they've done some tricky things for me without a hitch. The best actual service I have received, though, is probably from TDA. They have actually erased margin fees and refunded other fees incurred due to my own stupidity, and they're super responsive. Again, YMMV. You are the exception because every person I sent to Schwab had zero problem and like it more than Fidelity. Most investors have most of their money in IRA(rollover+some in Roth). Flexible margin rules hardly apply in IRAs. Buying and selling funds in IRA on the same day is a nightmare at Fidelity, you must call a rep + use only 90%. If you own mutual funds and fully invested and want to buy a stock first you can't do it at Fidelity, I read somewhere that even Vanguard lets you do it. Fees on closing and transferring account are never a problem because the receiving broker always paid them for me. It also depends on if you use the local office because I have been using over 20 years 2 local Fidelity offices and I wasn't impressed by the reps while my Schwab rep is excellent. Waiting for a rep. Most of my calls to Fidelity are about mutual funds trading, and it wasn't good. From waiting too long to reps telling me you can't do stuff, I don't have a choice I have to use them. "Schwab fees are the worst" which fees? the only fees I paid are the $49.95 short term on NTF funds if I sell earlier in both, but it's my choice. I don't pay fees on Ins shares(special arrangement) and/or VG funds at Schwab while it's $49.94-$75 at Fidelity, otherwise these fees are the same in both. The $5 additional buy of lower fees of Inst at Fidelity is great and limited to $100K, but I hardly add any money to my position. Most of us saved money in 401K and transferred it in one time, so I don't add money each month. My own problem is if I want to add I need a lot more than the $100K at Fidelity and I have to wait 2 days for the buy. What other fees did you have at Schwab?I don't have any bone in this game because I transferred my money back and forth between Fidelity and Schwab. I have used whichever company meets my goals, both are very good and serve most typical investors very well. |
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Post by Chahta on Jan 21, 2021 0:57:49 GMT
How do I get special fee arrangement at Schwab?
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Post by anitya on Jan 21, 2021 21:43:42 GMT
Not sure where I had posted how to Sell and buy at TD without free cash. I recall mentioning that same day sell and buy without Rep assistance and without 90% restriction works only for mutual funds and not for buying stocks, ETFs, etc. Yesterday, it worked for stocks and ETFs as well. So, now TD and Schwab are the same in this regard.
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Post by Chahta on Jan 22, 2021 13:25:59 GMT
I wonder how much Schwab would give me to stay? ;-p
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Post by anitya on Feb 18, 2021 7:34:51 GMT
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Post by yogibearbull on Feb 18, 2021 13:12:00 GMT
BTW, if I turned Drafts ON in my profile, where are the drafts stored? I haven't found where they are stored by ProBoards. But when you Reply again, it asks whether to use the old/incomplete Reply or discard that. Unclear how multiple drafts are handled - probably the most recent one and the memory may be specific to threads. In the Khoros platform [previous M*, now Fido], a list of saved drafts is shown in the Profile and you can pick specific one. |
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Post by anitya on Feb 18, 2021 16:08:17 GMT
Thanks, Yogi. That was my experience too re proboards. Yesterday, I thought I posted a lengthy reply but it was not there when I later looked for it in recent posts. Thought may be I should look for it in a drafts folder if there is such a thing. The draft did not pop up when I replied later on the same thread. It is possible I did something strange.
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Post by chang on Mar 29, 2021 3:22:00 GMT
Here is the March "best promotions" list www.fidelity.com/news/article/investing-ideas/202103010016BANKRATEBANKRATE500605148?srcIndex=1The April one should be out in a few days. AllyInvest remains the top promotion, but I really don't want to spread my assets all over the place. If I get hit by a bus, my wife might never find it. This year I plan to close out my TDA account and consolidate everything at Fido and VG. Pity that Fido isn't offering much in the way of promotions. |
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