There are many financial institutions available to park your money. If you are a trader you may have to look at various options. Since my goal is to get good return with very little trading, 2 institutions stand out.
Wells Fargo PMA Package requires a total of $ 25K in deposit in bank accounts or $ 50K for brokerage accounts. For this you get 100 free trades a year which is more than enough for me. These trades also include No load transaction fee mutual funds. I have seen Wells Fargo branches in West as well as East coast and very convenient to bank with.
Vanguard Standard Services allows all Vanguard ETFs and mutual funds to be traded free. Most of the Vanguard mutual funds have a minimum of $ 3K and Admiral funds (which have lower cost) have a minimum of $ 50K. Vanguard has one of the lowest costs. Only inconvenience is you have to link the Vanguard account to a bank account to transfer money in and out since they do not have any physical branches.
Schwab has No load funds and Schwab ETFs can be traded free. However if you want to buy something like a Vanguard fund you have to pay $ 76 per trade! Fidelity is similar to Schwab. They have quiet a few No Transaction Fee funds but will cost $ 75 to buy a Vanguard fund!
No comments:
Post a Comment