UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: 2old4bs Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75381  
Subject: Re: Bad Vanguard Experience Date: 1/16/2004 4:21 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I've been dealing with Fidelity for about 10 years, and I have always found their service to be completely professional and reliable. I can say with assurance that their customer service is, without exception, the best of any organization I deal with (not just financial firms). Just recently I moved some of my portfolio to Vanguard to take advantage of the lower fees on some Vanguard funds that were not offered by Fidelity.

I didn't move any of my IRAs though, because I didn't want to make the switch permanent until I had some experience dealing with Vanguard. I am already not too happy with how their accounts are handled. For example, with a Fidelity brokerage account, when you buy and sell funds, all the monies are run through the 'sweep' account automatically. Not so with Vanguard, each fund you buy is a different 'account', and the brokerage sweep account is used only for stock trades--this, IMHO, is a crazy way to do this. It's resulted in my receiving checks for checkwriting privileges on 4 different 'accounts'. I also HATE the fact that they charge a $10 annual fee for each fund that you've got less than $10K in (oh! Wait a minute...I think I understand why they have all these separate 'accounts' now--isn't it at least a tiny bit misleading to call each mutual fund purchased an 'account'? 8-(.

If I were to run into any of the problems that you or others have had, I would immediately move my dollars back to Fidelity--no doubt in my mind!

2old
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Value Hounds

Mylan Transitioning from Generics
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement