I just turned 24, and I have a Roth IRA with Chase. I currently have $5,000 sitting in an IRA account (still mulling over what to do with it), an additional $3,000 is invested in ONEBX (JP Morgan Growth and Income B) and $1,000 is in JLTAX (JP Morgan Latin America). I'm not sure if either fund is all that great: ONEBX because, though not necessarily a bad fund, isn't very strong, I'm just not sure my decision to invest in JLTAX was a good one (solely based on how new the fund is). Although I decided to purchase JLTAX on my own, in retrospect I'm disappointed that my financial representative at Chase advised me to invest in ONEBX, especially when they had a better performing and more sensible option, the JP Morgan Smart Retirement Target 2045 fund (JSAAX). Anyway, I've read better things about Vanguard's fund family, and am wondering if I should switch my IRA to that broker? But, is this a good time to do that, and what sorts of pluses and minuses are there in doing that?
All my IRAs are with Vanguard and I have no regrets.-murray
I have SEP accounts with Vanguard and Fidelity...both are great companies and seem to be making great decisions on behalf of there respective shareholders!!MEC
By way of disclosure, my DW and I have IRAs with Vanguard and we are quite satisfied with them.If you were to transfer the IRA to Vanguard you will have a large number of funds to choose from both indexed and managed. The chances are you will find the fund's expenses significantly lower with Vanguard since they are well known for their no load, low expense funds.OTOH if you transfer the account there may be a closing fee charged and perhaps some back end loads charged.The specific funds choses are a different issue and I will leave that discussion to others.Bob
One thing you might want to check on is whether you can transfer any of your existing holdings in kind to Vanguard. When I transferred my IRA to Vanguard from Schwab I was able to do so with many of them. However, I eventually moved most of the assets into Vanguard mutual funds because of the low expense ratios. Transferring in kind may take some of the sting out of changing custodians if the alternative is liquidating positions that are down significantly before the transfer.-drip
One thing you might want to check on is whether you can transfer any of your existing holdings in kind to Vanguard. This would probably require you to open a Vanguard Brokerage Service (VBS) account. There is nothing wrong with this, but, it might subject you to additional account fees and commissions depending on the size of the account.Bob
I have a Roth with Vanguard and my 401k is with them. Although my 401k has limited funds, they are good and Vanguard will not do you wrong.
The only thing I do not like about Vanguard is their account and fund maintenance fees. With Scottrade, I can invest in the same Vanguard funds for only $17 per trade but there are no maintenance fees of any kind.FuskieWho can also buy Vanguard ETFs for only $7...
The only thing I do not like about Vanguard is their account and fund maintenance fees. With Scottrade, I can invest in the same Vanguard funds for only $17 per trade but there are no maintenance fees of any kind.Most, if not all, Vanguard account and fund maintenance fees can now be avoided if you will agree to electronic delivery of statements, etc. If you are still paying $17 a trade at Scottrade, you may want to look at buying the funds direct from Vanguard again.AJ
Yup, agree to the elctronic delivery and you are all set.
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