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Author: Ringfinger 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 75525  
Subject: Schwab Question Date: 1/14/2011 9:45 AM
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I have been with Schwab for years but always manage my own investments. They offer a free portfolio check-up with suggestions. Has anyone ever used this? I am getting to the point where I am 20 years out from retiring and I want to make sure I am maximizing my time and making my money grow.

Anyone with experience? I think I need a little help.
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Author: Ringfinger Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 68246 of 75525
Subject: Re: Schwab Question Date: 1/14/2011 9:46 AM
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This is the one over the phone by the way. Even better, I would like to get both my Schwab IRA and Vanguard (current employer) 401k all considered as one pot and get suggestions but not sure if Schwab will do that or will they for a fee?

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Author: SirTas Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 68247 of 75525
Subject: Re: Schwab Question Date: 1/14/2011 10:46 AM
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I have been with Schwab for years but always manage my own investments. They offer a free portfolio check-up with suggestions. Has anyone ever used this?

I haven't had any experience with Schwab, but Fidelity offered a free check-up with suggestions and I took them up on it. I was supposed to gather all my stock and fund information beforehand and have it ready when I called. So, I did. The Fidelity guy seemed interested in having as much as possible transferred to Fidelity. (He wasn't interested in the funds I held in my 401(k), for example, as they couldn't be moved.) I had rather naively assumed that he would check out my asset allocation in terms of domestic/foreign, large cap/small cap, etc. But whatever asset allocation I had, he was OK with that. He didn't care. If I had an international fund, he suggested a Fidelity international fund instead. The general principle I think he was following is that if I had an investment in X, then he would suggest changing that to an investment in a Fidelity product that was in X.

I also signed up for a free educational session with TD Ameritrade. They talked about a few investing basics and then launched off into talk about some investment platform/service (or something) for trading options; it had all these nifty features and would cost only $499. I guess the whole thing was something like a web-based infomercial. It lasted several hours. I watched it for about an hour and a half (the whole thing went on for four hours), but then I stopped; I had other things to do.

As I said, I have no experience with Schwab but, FWIW, these were my experiences with Fidelity and TD Ameritrade.

--SirTas

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Author: w2j2 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 68248 of 75525
Subject: Re: Schwab Question Date: 1/14/2011 11:03 AM
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If it is free, go ahead.
Just take whatever they say with a grain of salt.

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Author: 0x6a74 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 68250 of 75525
Subject: Re: Schwab Question Date: 1/14/2011 2:58 PM
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I have been with Schwab for years but always manage my own investments. They offer a free portfolio check-up with suggestions. Has anyone ever used this?



not really.

they had something like that a couple years ago and just looked at asset allocation. i Failed .. (not enough of this /too much of that)


...don't see how it could hurt... see what they say, bring questions here

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Author: Case58 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 68265 of 75525
Subject: Re: Schwab Question Date: 1/16/2011 9:11 AM
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I have accounts with both Schwab and Fidelity and done portfolio reviews with both. My experience was slightly better--but only slightly--than SirTas'. Essentially, they both apply simple pre-programmed portfolio allocation models based on your age and self-assessed risk profile. Then they try to to get you into their different funds as part of any re-allocation.

It's not a bad thing to do, and, being free, the price is right. But, as Ox and others note, don't take it at face value and you'll get better and more neutral evaluation here and on similar boards.

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Author: sumap10 Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 68455 of 75525
Subject: Re: Schwab Question Date: 2/12/2011 4:46 PM
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Both Fidelity and Schwab will give you a canned portfolio, recommending you sell everything you own and buy what their canned portfolio contains. They can't deal with American funds or anything else you already own.

Sumap

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Author: Goofyhoofy Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 68458 of 75525
Subject: Re: Schwab Question Date: 2/12/2011 10:41 PM
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Both Fidelity and Schwab will give you a canned portfolio, recommending you sell everything you own and buy what their canned portfolio contains.

That's not been my experience, but perhaps I didn't go through the same "evaluation" as you.

They can't deal with American funds or anything else you already own.

They can deal with many funds; when I moved to Schwab they took in several funds that we had, but they cannot take in proprietary funds (we had to sell our Dean Witter funds, which was just as well since they sucked). That is a decision of those funds, I think, not Schwab or whoever.

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