Quote:
Originally Posted by retiredguy123
Vanguard and Fidelity do make money with built in management fees, but the quoted yields for brokered CDs are the actual yield that you will receive. There is no separate fee to have an account with these companies. A bank can only offer you CDs that they have created. But, Vanguard and Fidelity have access to thousands of products from thousands of sources. An individual bank cannot compete for yields with Vanguard and Fidelity.
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That may be true but how many of those products are international and not FDIC insured. Local institutions tend to be very invested in their communities and country for the greater good of the people and their financial needs. To each their own and no one is calling my investment is a plus.