Quote:
|
Originally Posted by Sweepsplayer
OP, I personally prefer having all my brokerage accounts at one place. It's easier to maintain/monitor that way, and you usually get more personalized service and lower fees the larger balance you have. I have little experience with T. Rowe Price, but I am with Vanguard -- the service is good, the expenses are rock bottom, and I like their philosophies. If it were my accounts, I would consolidate them at Vanguard for that reason.
|
We will be sticking with Vanguard or with Vanguard & TRowe Price, because we have been happy with their service and performance. [I know others are very happy with Fidelity and I am very glad for them, but I just have not been able to get over the fact that years ago Fidelity kept insisting we get a deceased relative's signature on documents when settling an estate!]
I understand the benefits of consolidating our funds at Vanguard: great service, super low costs, wide selection of funds, and they seem to just support us and our philosophy of investing rather than pushing their own agenda.
But ... Are there risks in putting all of our mutual fund money in just one company? What if they were rocked by a scandal? Or some other calamity that we haven't heard of yet? I don't keep all of my cash in one bank, just in case one bank goes bankrupt. [I know with FDIC insurance I'd get my money back eventually, but what would I do while waiting for my claim to be settled?] Is it the same with mutual fund companies, better to spread the money around a bit?
Right now I'm leaning towards keeping both mutual fund families, but putting a greater percentage in Vanguard to take advantage of the lower costs, and (drawing on disneysteve's advice) keeping money in just one or two T.Rowe funds where have performed better than Vanguard.