Posted on Dec 13, 2016
Trying to consolidate multiple retirement accounts. What company do you trust to handle your retirement accounts?
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My wife and I have a whole mess of retirement accounts (mostly Roth IRAs, but some other stuff as well) that we would like to consolidate under one roof. I heard good things about Vanguard, but I encountered horrible customer service when trying to establish accounts. USAA is also out of the question. Their returns have been horrible compared to my other accounts of a similar nature.
Posted 9 y ago
Responses: 15
CPT (Join to see) I have been with Vanguard for many years and trust them. My experiences have been positive.
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2LT. Sir I have a account with Vanguard and have had a good return on my 401k. I lost a little interest during the last melt down but no money. The people of Merrill Edge has been pretty good. So far they haven't made trades just to make commissions. My wife had another firm and had paid about $2500 in commissions this year.
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I did the consolidation thing a few years ago. Went under Fidelity because they have low trading costs, their website does a great job comparing Fidelity and non-Fidelity funds, and I've never been pressured to buy Fidelity funds. I've been happy with them.
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CPT (Join to see) Here are my experiences: I have accounts and over 25+ years with Fidelity, USAA, TIAA-CREF and TSP. I manage my own money and have since 1988.
USAA has self-directed IRA with no managed wrap fee and USAA will provide limited financial advice on their funds. This advise is free and you may do your own allocation or use a target date fund.
I value my relationship with USAA and prefer the self-directed accounts with them as I can trade in into ETF or USAA or non-USAA, including Vanguard.
You can have part or all in a managed account, my wife's funds are in a managed account (UMP) with USAA because when I am overseas on deployment, she wants to call someone and talk whenever she wants and we pay 70 basis points or .007 for the privilege of USAA conducting active allocation on her money. If my wife is risk adverse, remember Happy Wife, Happy Life.
Bottom line if you want detailed advice, you generally will pay for it one way or another.
I like my Fidelity and TIAA-CREF accounts as well, but I don't have the same level of trust in the organization as USAA. TSP, I tolerate because I must and at least it has low fees.
I have had accounts and experiences with Charles Schwab, E*Trade, USPA-IRA (now First Command) all I have closed mainly based on inconsistent service, inaccurate accounting or mis-leading sales or market trading purchase practices.
This is just my experience and it has been at least five years since I have had these accounts, companies service levels change, so you may have different experiences.
I have family that have accounts with Vanguard and they run self-directed just fine as well.
Good luck and happy investing.
USAA has self-directed IRA with no managed wrap fee and USAA will provide limited financial advice on their funds. This advise is free and you may do your own allocation or use a target date fund.
I value my relationship with USAA and prefer the self-directed accounts with them as I can trade in into ETF or USAA or non-USAA, including Vanguard.
You can have part or all in a managed account, my wife's funds are in a managed account (UMP) with USAA because when I am overseas on deployment, she wants to call someone and talk whenever she wants and we pay 70 basis points or .007 for the privilege of USAA conducting active allocation on her money. If my wife is risk adverse, remember Happy Wife, Happy Life.
Bottom line if you want detailed advice, you generally will pay for it one way or another.
I like my Fidelity and TIAA-CREF accounts as well, but I don't have the same level of trust in the organization as USAA. TSP, I tolerate because I must and at least it has low fees.
I have had accounts and experiences with Charles Schwab, E*Trade, USPA-IRA (now First Command) all I have closed mainly based on inconsistent service, inaccurate accounting or mis-leading sales or market trading purchase practices.
This is just my experience and it has been at least five years since I have had these accounts, companies service levels change, so you may have different experiences.
I have family that have accounts with Vanguard and they run self-directed just fine as well.
Good luck and happy investing.
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I hate to be a pain where do you get the extra income in SS. Who do you see and what kind of paper work?
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