In cash accounts, which all of ours are, Schwab give me more trading flexibility than Fidelity (not sure about Vanguard in this regard).I don't see the attraction of a Schwab brokerage account.
Schwab gives me better pricing on small quantities of treasuries and TIPS than either Fidelity or Vanguard. Schwab charges me no transaction fees to buy available Vanguard, Fidelity, or Dodge & Cox mutual funds.
Schwab gives me better and more accessible customer service than Vanguard.
Schwab gave us about $6500 in a series of transfer bonuses.
At the moment, we've got a total of $0 in 6 bank sweep accounts at Schwab. I've got about $3500 in a Schwab money market, with an ER of 0.34%, costing me 0.25% more than VUSXX would or about 73 cents per month.
The interest paid on our Schwab checking account has averaged about 30 cents per month over the past 3 months. Since I am earning 0.45% vs. about 5% that it would earn in Fidelity's pseudo checking account, that is costing me about $3 per month vs. Fidelity. Or maybe a net of about $2.75, since Schwab charges 0.08% less for the money market.
I don't think T. Rowe Price is much of a competitor in brokerage accounts, not sure why you included them on the sole basis of a better sweep interest rate. The only reason to have an account there would be if you really like T. Rowe's active funds and have enough assets to get the lower cost shares of their mutual funds. The investor class shares are available NTF at Fidelity, Schwab, Vanguard and other brokerages.
Statistics: Posted by jeffyscott — Thu Jun 06, 2024 4:07 am