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Frequent Contributor

Re: Which Vanguard MM fund...and go broker side or no?


@stevenjam wrote:
Hello
The benefits really depend on what classification of investor you are. In short, how much in assets you have with Vanguard, how often you trade funds, whether you want to trade in and out of non Vanguard Funds. If you just have one or two Vanguard funds and you are the type of investor that will be long term and not planning to trade, I do not think there are advantages. 
See this page to see where you fit in;  Vanguard benefits at a glance | Vanguard
In short the larger amount of funds with Vanguard the cheaper it is to trade with them. 
If you do not trade or purchase ETF or Stocks, there may not be an advantage at all. 
If you have less than $50,000 and or want to trade often, you may find better bargains at Robinhood, or TD Ameritrade, etc. 
Summary Description: 
Brokerage ServicesYou can open a Vanguard Brokerage Services account and purchase individual stocks, mutual funds, bonds, and CDs from other companies. A Brokerage Services account costs $20 a year and offers you access to any stock or mutual fund.
With a Vanguard Brokerage Services account, each trade is $7 for the first 25 trades and $20 for each subsequent trade if your account has under $50,000. For accounts between $50,000 and $500,000, all trades are $7. Trades for accounts with $500,000 to $1,000,000 are just $2. Because of trade fees, Vanguard may not be suitable for active investors with modest portfolios.
If you already have a Brokerage Services account, you can also open an options account. Vanguard charges $30 plus $1.50 per options contract. If you have Flagship Services (accounts over $1,000,000) then options cost just $8 plus $1.50 per contract. Vanguard is most suitable for the infrequent options trader who may require or desire assistance with options trades.
Vanguard ETFsOnce you have a Brokerage Services account, you can invest in Vanguard ETFs. These funds are similar to mutual funds, but are traded throughout the day on an exchange, like stocks. Vanguard ETFs have no transaction costs and the average fund expense ratio is only .17%. The industry average is .53%.

See updated info on commissions below. VG was quite slow in eliminating stock and ETF trading commissions but it eventually did that.   https://investor.vanguard.com/investing/vanguard-brokerage

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Re: Which Vanguard MM fund...and go broker side or no?

@yogibearbull wrote: "We already have brokerage accounts at Fido and Schwab."

Ah, yes. I recall you mentioning that in the past. Just for my further edification, does your wife use the online interfaces for these, and does SHE have a preference? (Or do you do all the online investing grunt work?)

I'm contemplating a move with more of our investments to either Fido or Schwab, because both have bricks-and-mortar presence here in San Antonio...easier for my wife to visit in person and get help if I suddenly drop out of the picture. So if one of these also has a website that's particularly simple and/or intuitive in layout, that might push me in the right direction.

Meanwhile, thanks to all who've contributed to the thread so far. From what I can tell playing on their site, I'm likely to go for Vanguard's VMFXX as our money market fund, but will probably not pursue things on VG's brokerage side.

Cheers,

Dirk

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Frequent Contributor

Re: Which Vanguard MM fund...and go broker side or no?

@dirkronk , we have active online access on my wife's and my account.

Reason VG cited to me was that my account was more complicated [more holdings, so?].

Anyway, the whole VG urgency of why my wife should switch to VG Brokerage ASAP sounds hollow when my turn hasn't even come up in spite of my asking, when?

And we don't need VG Brokerage just to access a few VG mutual funds. This is for VG's convenience, not clients'.

BTW, I CLOSED my VG Prime VMMXX today [its 7-day SEC yield intentionally driven to 0.01%] that had checkwriting on it. As my VG accounts are linked to my bank and CU, I can write checks there.

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