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Originally Posted by Ecuadog
We have been with Vanguard. Not too long ago. we opened some accounts at Fidelity. I was getting concerned about the SIPC insurance covering our accounts or "separate capacities" at Vanguard. I was also interested in sending international bank transfers, for which Fidelity doesn't charge.
I like Fidelity's platform much more than Vanguard's, but the sweep accounts and money market funds earn more at Vanguard. I also favor a couple of Vanguard's funds.
I don't know if it's still true, but I found that Vanguard will not let you designate beneficiaries for a joint account, while Fidelity allows it.
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I concur completely. Fidelity's systems and flexibility with trading orders make it far superior to Vanguard. Vanguard has a few less expensive and broader index options but FIdelity has been quite competitive in this category. As a plug to Schwab, I have all three and find Schwab and Fidelity basically tied in almost all categories. Do NOT accept Schwab's fee-based Robo-Adviser program. They recently had to pay a fine for providing advice not in the customer's best interest. It's not that complicated to do yourself. For most client needs, set your allocation, then come back annually to see whether it's still in balance. Switch some from stocks to cash or bonds if Stocks become more than 5% more than target allocation. Do the reverse after a major selloff, invest some cash to buy stock. Holding lowest-cost index funds is definitely the best way to go.