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Author: TwoCybers Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75627  
Subject: Re: Advisor Fired - Now: Vanguard vs. Scottrade? Date: 3/8/2012 9:21 AM
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C I suggest you cast a wider net. Changing is a PITA and now might be the time to check carefully.

That said - I know nothing about Scottrade except what the Advertisements tell me and that they have an office 1 mile from my home.

I have been with Vanguard on two different times -- I will never use them again. It is a very large organization. It frankly offers less options than many other brokerage firms. It is conservative and slow to adopt new technology (i.e. they did not offer some On Line Service I wanted in the late 1990s until over two years after Charles Schwab and Fidelity).

They have some excellent mutual funds and all their mutual funds have low fees. But you can buy their mutual funds anyplace.

One key factor in your search, in my view, is the size of your current investment portfolio. In you have a small portfolio your fees will be significantly smaller at Vanguard (and maybe Scottrade) than say Schwab or Fidelity - but check.

One example of "extras" I have an iPhone and use Schwab. Schwab has an app that allows me to take a camera pix of a check and deposit it without going to a bank or the post office. I get funds in less than 24 hours - better than most brick and mortar banks. My portfolio is not small and as such I have zero mutual fund trading or equity trading costs.

At the end of the day, $50 or $100 in fees over a year may be less important on a $100K portfolio than on a $10K portfolio - you will have to decide. For me having the features in a Schwab or Fidelity account has value - certainly in excess of $100 per year.

Gordon
Atlanta
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