Just got a letter today.
https://investor.vanguard.com/client-benefits/account-fees
intercst
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My understanding is that they have told people of this a long time ago.
Most people have no reason to stay in a mutual fund account instead of switching to the brokerage account that Vanguard wants everyone on but, apparently, can’t force people to do so.
Personally my experiences with Vanguard were bad and I’m glad I have no reason to use them for anything.
The fees are waived depending on how much you have at Vanguard.
(There are some people who work in financial jobs and if they have a brokerage account it causes them more reporting issues than a mutual account.)
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Haven’t had an account with Vanguard in many years since not long after they started the brokerage.
All you need to do is sign-up for E-statements to avoid the fees. From the letter:
"How you can avoid the fee
If you’re the primary account owner, you can eliminate the fee on brokerage accounts by signing up for e-delivery of statements and the annual privacy policy notice; confirmations; reports, prospectuses, and proxy materials; and notices, amendments, and other important account updates."
Gene
All holdings and some statistics on my Fool profile page
http://my.fool.com/profile/gdett2/info.aspx
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Most people have no reason to stay in a mutual fund account instead of switching to the brokerage account that Vanguard wants everyone on but, apparently, can’t force people to do so.
Here’s what Vanguard Emailed me:
We’re writing to let you know we’re making changes to the Vanguard Brokerage Services® annual account service fee. Since you’ve opted in to our e-delivery service for statements, account notifications, and other Vanguard communications, you won’t be charged.
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Curiously neither I nor my SO have received any communications from Vanguard about new fees. We both have IRA brokerage accounts with them.
Curiously neither I nor my SO have received any communications from Vanguard about new fees. We both have IRA brokerage accounts with them.
That’s because the new fees are only for those with mutual fund accounts, not brokerage accounts.
AJ
>>Curiously neither I nor my SO have received any communications from Vanguard about new fees. We both have IRA brokerage accounts with them.<<
That’s because the new fees are only for those with mutual fund accounts, not brokerage accounts.
AJ
There must be something else at work because I have three brokerage accounts and received a separate but identically worded form letter for each one.
They all said no fee to me since combined balance is over $1M. Which I thought had been their policy for a long time, yet they are announcing this as something new. Puzzling.
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