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hey folks, i'm wondering if any of you can advise me as to whether there are any disadvantages to doing this. i set up my IRA years back, when i didnt pay much attention to what was the best place to go. so i have my investment accounts at Fidelity(even though i have an open account at Vanguard). im wondering if there is any difference in, say, buying a funding like VIPSX(that is a Vanguard fund) under my Fidelity account, if its offered, as opposed to transferring the money to Vanguard and buying there? thanks, rj
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It looks like Fidelity charges a $75 fee to purchase Vanguard funds. (No fee on redemption).
They have some *no transaction fee* funds, but I did not see VG on that list. & even so, they reserve the right to charge an arm and a leg at any time.
Of course, since you are talking IRAs, it can really be a pain to move money back and forth. But I'd move it if I expected to be investing in more VG funds. Fidelity is generally a little cheaper when buying outside of Fidelity than VG is for buying outside of VG. I was just looking up their fees a couple of months ago - trying to cosolidate out IRAs down a bit. -
thanks for that. i know that most people prefer VG; some of the ER's i've looked at are higher at Fido than VG. are you consolidating into VG?Comment
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No, I just had some lesser known fund families I thought maybe I should consolidate. I decided not to keep them - it cost more than I Expected to buy through the other companies.Originally posted by rj.phila View Post
Fidelity has been a nice stock brokerage for me, since I don't trade enough to warrant a seperate brokerage at this point. I am less impressed with their mutual funds over the years, BUT they still have some good funds all the same. (My fidelity account was initially a 401k - but I decided to keep it).
VG is great, but I just believe in more fund diversity.Comment
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