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Author: yobria Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76384  
Subject: Re: Vanguard methodology Date: 11/21/2003 12:42 AM
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>>1) no fee for ira. vanguard will charge 10$ if total fund in accnt is less than some amount say 5k$ for most funds

Yes, that's a point in Scottrade's favor for those with tiny IRA balances. However, keep in mind Scottrade is providing this service at a loss. One wonders how long they'll continue to do so.

>>2) can buy stocks at 7$ mkt order at scottrade. its 25$ or so at vanguard. i wanted the option of buying stocks in my IRA accnt. that was one good reason to go with scottrade.

You're right, and that's why all my money is with Scottrade. However my Mother, who is 100% invested in Vanguard funds, invests in Vanguard directly, and loves their site and service.

>>3) they have the fidelity funds, vanguaerd funds and 9000 more. thats great.

Another good point.

>>5) there is 800 number . its till 10pm cst. i already spoke.

Yes, you're right...there is an 800 number that will apparently route you to your local office I'd never noticed on their site before. But the "branch" in San Francisco consists of two (very nice) guys in a closet sized space in an odd part of town. They're good about setting up accounts and taking deposits, but they wouldn't have a clue about tax or other technical issues, whereas you can call Vanguard and talk to a specialist about anything. I used them to set up a complex paired retirement plan for my business, for example, and they gave me all sorts of advice for setting it up, and sent me the tax forms.

And of course there's no comparison between the websites...in general Scottrade really isn't as professional as Vanguard. About once per quarter, for example, Scottrade's statements are mysteriously delayed and you have to wait til mid month to get them. That never happens with Vanguard.

Nick
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