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Question of the Day – Who’s Your Favorite Brokerage/Mutual Fund Company?
By JLP | September 7, 2010
Here is today’s Question of the Day:
Who is your favorite brokerage or mutual fund company?
We have our money at Fidelity because it’s linked to the 401(k). So far I have been happy with their service and their trading costs of $7.95 per reasonable. But, Fidelity isn’t the only game in town. I also have favorable opinions of:
• Vanguard
Who do you use? Are you happy with their service? What things do you not like?
Topics: Question of the Day | 12 Comments »
September 7th, 2010 at 11:49 am
Vanguard all the way. That’s not to say the others aren’t good, it’s just a reflection of the investments I prefer.
I also think you should add Fidelity to your list to choose from. They’re pretty good too.
September 7th, 2010 at 12:14 pm
I have brokerage accounts at Vanguard, ETrade and Ameritrade.
I opened my Vanguard brokerage account because I had used their index funds for many years, and they introduced low commissions (zero) on their own ETFs. Their brokerage website and the trading experience are a little primitive, but I am not a huge trader, so they are “good enough”. I also feel they are the least likely to cheat me, or trick me. (Maybe I have just fallen for their marketing!)
I have Ameritrade because my first online brokerage account was with Datek, who ended up owned by Ameritrade. Back in the dot-com era I did a bit of day-trading with Datek, and I was satisified with their costs and performance. I don’t use them very much any more. I have a good chunk of money there, but I can’t see any reason to choose them over anyone else.
I do most of my research, investing and trading with ETrade. I started at ETRade with an online bank account, and they have consistently provided a solid platform for that. I do all my banking there, except for a local checking account for the things that really need to be done locally.
I added the brokerage later, and have found that I really like their platform. The research, quotes, etc. are well thought out, and everything works the way I like it. I also like the direct link to my bank accounts, so I can move money instantly between brokerage and bank. I move money between ETrade and the other two, but of course it is not quite as quick, nor as smooth.
I have all three accounts partly out of laziness (failure to close Ameritrade), partly to cherry-pick (Vanguard costs), and partly as insurance (distribute my assets in case any one goes bad and I can’t access my money for some time).
September 7th, 2010 at 12:23 pm
Vanguard! I have a Roth and Traditional IRA, Brokerage Services, and an individual account. Tiny commissions, free brokerage trades after 50k balance across all accounts, best ever.
September 7th, 2010 at 1:51 pm
I am a believer and user of Vanguard. We have moved everything to Vanguard except my wife’s 401(k) which will be moved when she stops working.
With the amount of assets there, we can access a Certified Financial Planner at any time and have used one to provide a second opinion and recommendations on our asset allocation. I will be talking to a Vanguard CFP again before the end of the year to discuss rebalancing ideas.
Their fees are rock bottom and their service is outstanding. I compare them very favorably with USAA, where we maintain all of our auto, home and umbrella insurance policies.
September 7th, 2010 at 3:20 pm
I stick with simple Vanguard Target-Date Retirement funds. I don’t like the Fidelity counterparts because they are actively managed.
September 7th, 2010 at 4:00 pm
Wells Fargo PMA Package allows you 100 free trades borkerage account as long as you maintain a $25,000 combined balance between accounts. Otherwise $25.oo per month in fees. So if you think about it, If you don’t have $25,000 then its $25.00 per month for 8 trades. These trades are only stocks adn etfs.
September 7th, 2010 at 4:03 pm
I have Fidelity for the same reason as you – my 401k at work is administered through Fidelity. Having all under one roof allowed me to get discounted rate for trades. Although I keep trading activity to an absolute minimum.
September 7th, 2010 at 4:03 pm
There are better brokerages out there, but everything you actually want to buy comes from Vanguard.
September 7th, 2010 at 4:47 pm
I’ve only used Charles Schwab, and am very happy with them. I love the service and value I get from them, and whenever I’ve had opportunity to call them on the phone, they make me glad I called. I don’t think I’ve had such a positive customer service experience on the phone from anyone else – I generally dread business phone calls, but dealing with Schwab is a real pleasure.
September 7th, 2010 at 10:40 pm
T Rowe for rollover IRAs; Fidelity for husband’s current 401k; Sharebuilder for fun $/stock trading. Dead account at E*Trade that we should close but haven’t due to inertia…Also have a small rollover IRA at Vanguard.
Since checking, cds and savings are at ING, easy to move money around to Sharebuilder. Have a local/national bank for paper checks and deposits.
No complaints on any of the above. I just wish our returns and (thus balances) were better!
September 8th, 2010 at 9:17 am
We have everything at Vanguard (my 401K, Roth IRAs, and a brokerage acct) except for my husband’s 401K (Morgan Stanley, it’s okay) and a couple hundred bucks in Sharebuilder to take advantage of one of their promotions earlier this year. LOVE Vanguard!
September 8th, 2010 at 1:16 pm
I shifted everything over to Vanguard at the end of 2007, and have thus far been very satisfied. I also have great things to say about Fidelity, but I just liked the broader range of choices that Vanguard offered and their overall philosophy.