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10-29-2009, 04:58 PM
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is it better to have a Vanguard account?
My IRA is currently with Etrade. I want to invest it in a Vanguard international fund and just leave it there, reinvesting the interest. I think I can actually purchase the fund through Etrade but they charge a $20 fee for each transaction. If I want to reinvest dividends back into the same fund, isn't this charge going to kick in each time?
It is a pain to move the IRA because Vanguard says Etrade needs something called a Medallion Guarantee in order to move my money  
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10-29-2009, 05:26 PM
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What do you need to do and/or pay to get the medallion guarantee? It should only be a nominal fee if any.
I'd say if you want to purchase a Vanguard fund, do it directly with Vanguard. There is no reason to pay a transaction fee to a 3rd party.
__________________
Steve * Despite the high cost of living, it remains very popular. * Why should I pay for my daughter's education when she already knows everything? * There are no shortcuts to anywhere worth going.
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10-29-2009, 06:03 PM
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I'd just move it to Vanguard.
In my experience, most brokerages require a medallion guarantee (most banks don't) to roll money out of an IRA. You have to go to an institution you bank with - some will do it for free. My CU charges something like $10 per guarantee. It's not a big deal. If you think you will change your mind down the road, and want to go with a different fund family, you may be better off with E-Trade. (I personally like Vanguard and Fidelity because they let you invest in various outside funds without any transaction fees. BUT, I mostly stick to their fund families. I'd consider E-Trade if I wanted to trade a larger variety of funds or stocls).
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10-31-2009, 02:23 PM
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I'd call E Trade before getting the medallion. You may not need it if it is going to an account in the same name (yours). That was my experience when I worked for a mutual fund company.
But...they may need it either way. Just trying to save you a trip.
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11-05-2009, 04:24 AM
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I would move it to Vanguard. I have been with them for a long time and they make investing very easy and cheap and they will not charge you for investing with someone else through them.
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