Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
I agree that Schwab is better at providing access to institutional class shares. Above, I wrote: What Schwab did right was reduce the mins on lots of funds (including institutional share classes)".
Though more does not necessarily equate to bet…
There are institutional share classes and institutional investors. Schwab has designated more funds as accessible only to institutional investors / advisory platform; some of these funds are accessible to retail at Fido but the institutional share c…
DIfferent strokes for different folks.
Geographic proximity will vary from person to person. There's a Schwab office just a five minute walk away from me. (The walk to Fidelity is about an hour, i.e. 3 miles, but it takes me over a national …
Based on the timing, I'd guess the explanation is that MrRuffles is a Schwab Private Client. This is a new feature added July 10, 2023, and includes a dedicated rep.
Schwab press release
These dedicated reps, even credentialed ones, are more sa…
VMRXX: 5.28% SEC yield + 0.10% ER = 5.38% gross yield
VMFXX: 5.27% SEC yield + 0.11% ER = 5.38% gross yield
Vanguard taxable MMF table
For more safety (backed by full faith and credit of Treasury), VUSXX has a gross yield that's a basis point lo…
Try and spot someone who doesn’t have a cellphone / iphone in their hand.
Ooh, ooh, me, me :-) I don't usually use mobile phones, smart or otherwise.
Though I have to admit that having a mini-computer (no SIM) in my hand for guidance did recen…
I gave Vanguard a chance too, but they said they would ignore all of our existing low cost basis stocks so I though that was a no go.
Years ago I suggested to a friend what became Vanguard Personal Advisor Select. (At the time there was only one t…
The "usual suspects" in insurance do seem to require you to have an auto policy with them before they will sell you an umbrella policy. Try working with an independent agent. They are familiar with a variety of lesser known but still solid compa…
over this weekend, we will consider to transfer the remaining Vanguard mutual funds in our joint account. Since I can buy the ETF equivalents,
Generally at Vanguard if there's an "equivalent" ETF for a fund, the ETF is just another share class of t…
Thanks to all for the information, both here and via PM. Years ago, Fidelity used to offer various tiered bonuses. Here, e.g. is its 2018 promotion:
https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/fidelity/Cash-Offer.pdf
Since…
Based on 2023 portfolios, in high tax states (~10% marginal rates) SUTXX is competitive with VUSXX on an after-tax basis.
Rougly 20% (19.94%) of VUSXX was subject to state income tax.
That shaves ~20% x 5.28% x ~10% ≈ 0.1% off the after tax return.…
Three weeks to go before new fees kick in. I'm still debating about closing out Vanguard accounts. I opened them almost exclusively to buy Vanguard funds: low cost actively managed Admiral shares, a Treasury MMF (for yield and tax purposes), a r…
Is it the case that within a CMA one can buy a Fidelity mm fund? If so, are there are any important drawbacks to the CMA?
I addressed the second question, which was predicated on the answer to the first being affirmative. Yes, one can buy a Fidel…
so the answer is yes to my question?
I don't know - you didn't define "meaningful". All I can do is keep adding to a list of differences and see if you consider any of them meaningful.
Some people consider added inconveniences to be meaningf…
The Fidelity Cash Management account is a brokerage account designed for investing, spending and cash management. Investing excludes options and margin trading. For a more traditional brokerage account, consider the Fidelity Account.
https://www.fid…
If you can manually buy (from your sweep) one of their 5% money funds, looks like a complete winner
In your Fidelity brokerage account, "When [you] sell something in [your] Fido account the proceeds go automatically into FDRXX."
Regarding Fidelity cash management ... Currently you're limited to a bank sweep paying 2.69% APR (2.72% APY).
A Fidelity CMA account is different from a Fidelity brokerage account.
What you have is a "Fidelity brokerage account, not a CMA account.…
I’m really getting screwed. I remember when my Fido retirement accounts used SPAXX. Than that changed a year ago to “money market.” I didn’t realize there was a difference. Duh. Please advise what step I need to take in order to change my settings…
Fidelity calls "Fidelity Account" a "full-featured, low-cost brokerage account"
In a taxable Fidelity Account, one may use SPAXX or FZFXX as a core account, or let Fidelity hold your cash on its books as a general liability (i.e. you're lumped in w…
I also concur with @rforno 's observations, at least the first few. (I don't invest directly with foreign equities or do realtime trading.)
Several years ago when I had accounts at both brokerages I compared bond prices and came to the same conc…
I'm not sure everyone is clear on the meaning of the 4% rule. The objectives are simplicity and very high confidence that one will not run out of money within 30 years.
Conditions will surely change -- but we don't know when or in which direction…
IF one wants to follow Bengen's original paper, then one should (I think) be using large cap domestic stocks and intermediate term Treasuries. (He is clear about intermediate term treasuries but says only "large cap" stocks.)
These days, many all…
Also included NYC’s 9.75% tax
8.875%.
For the record, "The City Sales Tax rate is 4.5%, NY State Sales and Use Tax is 4% and the Metropolitan Commuter Transportation District surcharge of 0.375% for a total Sales and Use Tax of 8.875 percent."
h…
Two years, must be an ACATS transfer, and the offer is only for taxable accounts.
https://cdn.robinhood.com/assets/robinhood/legal/Robinhood_ACATS_Bonus_Offer_Terms_and_Conditions.pdf
IF you want a fund NTF at a brokerage, you're likely going to buy a share class with a higher ER. This is to help the fund pay the higher shelf space fee for being offered NTF.
It doesn't really matter how the fund assesses the higher ER; what ma…
Other than the content sections of the WSJ I don’t see much out there that well serves Sargent Joe Friday’s admonition:
Good point about WSJ content vs. opinion pieces - a distinction I've tried to draw elsewhere (e.g. when NYTimes opinion pieces a…
I have a BoA card that pays 5.25% for all online purchases and 3.5% for groceries. Costco Citi membership card which I also use for travel pays back 5% on gas and travel. For everything else (tax payment, health insurance, P&C insurance, etc.…
Vanguard dropped personal reps (for those not paying for PAS) years ago. Here's a 2021 Bogleheads thread discussing this.
There may be the oddball Flagship customer or two (see "Gill" in the thread) who continues to have a personal rep for unknow…
the distinction between cost method and lot selection
Exactly. Further, each - cost basis and lot selection - is a distinct legal (accounting) fiction. In reality shares owned are nothing but fungible writings in an electronic ledger. For the ta…
I searched for credit cards with good overall cash-back policies and minimal hassles.
I didn't want to play games with rotating categories, travel rewards, or some other BS.
Show me the money!
My experience with PenFed credit cards is that their po…
In theory, you could add some money and subsequently pull it out as an "excess contribution". I would not suggest that without a lot more research. The IRS frowns on maneuvers done to circumvent rules. And even if you could do this, you'd need …
@Crash - if you have a MMKT fund account you can transfer any odd amounts into it. I do it all the time.
I believe that it true at Schwab but it is not true for all MMFs everywhere. Some MMFs at Merrill can only process transactions in whole dolla…
While you cannot push an ACH "transfer" while your account is locked, you can still push electronic payments (eChecks) via BillPay (and also paper checks via BillPay). ACH transfers pulled from outside (direct debit payments, ATM withdrawals) are a…
I pay property taxes and state and federal income taxes routinely by credit card. All of these go through as regular charges. Though ultimately it depends on what the vendor (county) puts through to the bank.
With BofA one can get 2 5/8% back o…
The two key elements are the payee and the presence of FBO. The former means that you never have access to the cash, so this is not a 60 day rollover. The latter means that the money doesn't belong to Schwab.
While 13¢ may actually be something to sneeze at, you could move the money to Fidelity where you can open a house fund for a penny. Why, you might even open a baker's dozen different funds there!
Slightly more seriously, you might be able to move…
