Comments on: Which is the Best Broker for an IRA?

By: Dave

Dave — Thu, 14 Jul 2011 02:55:41 +0000

My IRA is at Vanguard because of the low cost Mutual Funds.

By: Dave

Dave — Thu, 14 Jul 2011 02:54:44 +0000

I have my regular brokerage account at Fidelity and I also use the Fidelity AMEX 2% card. My IRA is at Vanguard.

By: Paul

Paul — Tue, 31 May 2011 11:06:39 +0000

I just wanted to add that Vanguard has lowered the minimum investment on at least the target retirement date funds to $1,000.

Edit – I see on another site that 27 funds have been lowered from $3,000 to $1,000.

By: Pete

Pete — Thu, 22 Apr 2010 18:57:43 +0000

Another good article and thank you, Jim.

I need to roll over my 401(k) to an IRA.

E*Trade and TD AMERITRADE currently offer up to $500 cash credit for a Rollover IRA account.

I understand your comments about ignoring free-trade promotions but up to $500 cash credit promo shouldn’t be ignored, correct? Or is there a different catch somewhere that I’m missing?

That Fidelity AMEX card also looks intriguing.

pete

By: Jean

Jean — Tue, 10 Nov 2009 18:31:45 +0000

I have my IRA with AIG which does charges me a 1% fee that I just discovered after reading this article.

How would you go about switching your accounts at this time and not lose further with the market down compared to last year?

Thanks for any insight.

Jean

By: Paige

Paige — Fri, 06 Mar 2009 21:30:15 +0000

Thanks for this helpful info. Neither my husband nor I have an IRA account. I have been looking into them. I am going to check out Vanguard.

By: BrewCrewFan

BrewCrewFan — Wed, 04 Mar 2009 04:18:33 +0000

E*Trade also has account maintenance fees (like $40 per quarter) if you don’t make enough trades. As a buy and hold investor, I kept getting hit with inactivity fees on my old E*Trade account. I finally got fed up and closed the account.

Vanguard does have a network of non-Vanguard no transaction fee mutual funds that you can access, but the number NTF funds in not as robust as other brokerage firms. My other concern with Vanguard is that their on-line research tools are not as strong as other brokerage sites. I previously had my IRA with TD Ameritrade and liked the ease of use of their website.

If you are going to be an active stock trader with your IRA, Vanguard probably is not the right choice. With my investment approach, it is a good fit for now. I am beginning to utilize ETFs a little more, so brokerage fees and order executiion may become more important in the future.

Hope this helps.

By: Live Money Smart

Live Money Smart — Wed, 04 Mar 2009 03:35:48 +0000

Thanks for the very valuable info. Scottrade is also another low minimum IRA provider for those looking for low minimum initial investments. They also have lower trading fees than E*Trade (usually $7/trade). I’m not sure about any other fees for IRA accounts though, as I only have a regular brokerage account with Scottrade. For my IRA I use Vanguard.

By: Eric

Eric — Wed, 04 Mar 2009 02:59:54 +0000

Ah ha… I thought this sounded too good to be true.

After a call to E*Trade’s customer service, I determined that there is only one Vanguard fund that E”Trade offers as a “no-load, no-transaction fee.” That fund is the “Tax-Managed International (VTMGX)” fund. I find this peculiar since the same customer service rep told me that they offer 100-something Vanguard funds. I thought Vanguard’s claim to fame was their extensive selection of no-load funds. What’s the deal?

Can somebody with an E*Trade account verify what I the customer service representative told me by experimenting with the E*Trade’s Mutual Fund Screener? Thanks.

By: Eric

Eric — Wed, 04 Mar 2009 02:37:37 +0000

I am strongly considering opening a Vanguard Roth IRA account, but I want to play devil’s advocate for a minute: If E*Trade offers:

1. no commissions on no-load mutual funds (which the vast majority of Vanguard funds are)
2. AND the option to purchase no-load mutual funds from other fund families for no commission
3. AND the option to purchase stocks with a reasonable commission (much more reasonable the Vanguard’s brokerage services),

then isn’t E*Trade the better option here because of more investment flexibility with equal access to Vanguard Funds, and low (zero) transaction costs?

By: BrewCrewFan

BrewCrewFan — Wed, 04 Mar 2009 02:26:40 +0000

Since I primarily invest with index funds, I have my IRA with Vanguard. I like the low fees and the wide variety of index funds they offer.

By: Nathan

Nathan — Wed, 04 Mar 2009 02:10:29 +0000

Actually $5000. one too many zeros

By: Nathan

Nathan — Wed, 04 Mar 2009 02:08:54 +0000

If you’re just starting T.Rowe Price is also a great option for an IRA. If you do monthly contributions there is no minimum starting balance, and monthly contributions of as little as $50/month. There is a annual charge of $10/annually for accounts under $50000.

By: Jim

Jim — Tue, 03 Mar 2009 15:03:35 +0000

I think having it all at once place, especially if it’s a good place like Fidelity or Vanguard, is always a plus. I like keeping things simple, it makes it easier to keep a handle on things.

By: Patrick

Patrick — Tue, 03 Mar 2009 14:13:36 +0000

I currently use TIAA-CREF and I must say they are a great mutual fund company. They have very low fees and have a good selection of mutual funds. The only problem is that you must be part of a non-profit organization or be a teacher. If you are either, I would check them out.