Anyone here use an online broker for an IRA or other similar account. Been looking at Vanguard but was thinking it might be better to go with a Schwab or someone who could provide better local support. Not looking to be very high on transactions and really just want something where I can put money into some CDs and Mutual Funds and mostly leave it alone.

Any recommendations?

2/28/2010 9:52:36 AM

What kind of support do you envision? I'm pretty sure scottrade will let you trade your IRA as well and they have local guys if you need to call someone...depending on what type of questions you have. However, I have no idea if you can buy CDs and MFs via scottrade.

2/28/2010 11:02:54 AM

Really just thinking to get a personal contact for when I have general questions. Like I said I'm not looking to micro manage the thing, I don't need to have somebody's cell so I can call them and start yelling "SELL SELL SELL!" for instance. Mostly though I want something with low fees and just stability.

2/28/2010 11:12:45 AM

I've used scottrade, trade king, and now thinkorswim to trade my IRA. And I mean trade, probably 150 transactions last year in it. But these were all equities (including options), I have no idea if Mutual Funds or CDs are available.

Scottrade is 7.99, tradeking is 4.95, and I was able to get thinkorswim to match TKs commission though they are typically a bit higher.

2/28/2010 11:15:52 AM

Vanguard offers mutual funds, stocks, bonds.
Schwab offers CDs, MFs, stocks, bonds.
Scottrade - Can't determine from the web.
TIAA offers CDs, MFs, stocks, bonds.

The reason I was thinking Vanguard was because they have super low fees and are investor driven, not for profit so in theory they are looking out for you because there isn't the stockholders to worrry about.

2/28/2010 11:59:43 AM

Schwab

2/28/2010 12:02:19 PM

You are buying a house right? How would you like to pay for it tomorrow in CASH??

2/28/2010 12:03:23 PM

Quote :

"Mostly though I want something with low fees and just stability."

Then Vanguard is where you want to be. The low fees on their index funds really can't be beat.

2/28/2010 11:55:30 PM