The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: oldmannickels on November 14, 2018, 02:55:45 PM
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It looks like FSTMV/FSTVS funds converted to FSKAX on 11/2. When I tried to execute a trade for FSKAX it wouldn't let me. I had to call and one of the traders found out that Wells Fargo Brokerage is no longer able to trade Fidelity Funds.
I don't really know what to do because I can't use Fidelity or Vanguard brokerage accounts. Does anyone have any insight into what happened?
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This is a list of my approved providers (it sucks I know)
1st Global Capital Corp
Pershing, LLC
Citigroup Global Markets, Inc.
E*TRADE
Frontier Wealth Management
Interactive Brokers LLC
LPL Financial LLC
Morgan Stanley Smith Barney
Oppenheimer and Co.
TD Ameritrade
UBS Financial Services
Waddell & Reed, Inc.
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Fidelity removed all the classes/restrictions on many mutual funds. As such, there's no need for investor/premium classes which is what the FSTMV/FSTVS differences were. They're now under the new fund ticker as the FSKAX going forward, and don't require any minimum $$ to invest.
I can't help with the approved providers other than to say steer way clear of UBS. They sucked when I had them. Oh, and Oppenheimer is supposedly okay but stupid high expense ratios. :(
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"Approved Providers"? What's that? Why would you have a list of approved providers? Are you international?
I've heard okay things about TD Ameritrade. I wouldn't get all excited about them though. Looks like like their cheapest S&P500 ER I could find is SVSPX (0.16%) - which I held at E-trade for a while. Meh - spits out a lot of dividends and capital gains (taxes!). Sounds like they have better ETF's. I'm not a huge ETF fan though.
I left E-trade a while back after they, more than once, changed a no load fund to a load fund on me (SVSPX was one of them, if I recall correctly). I was tired of it.
I left Wells Fargo nearly a decade ago... can you say fees? Yikes!
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Can you buy Vanguard ETFs through Wells Fargo?
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TD Ameritrade has some good commission free ETFs. Sort by expense ratio here: https://research.tdameritrade.com/grid/public/etfs/commissionfree/commissionfree.asp
"Approved Providers"? What's that? Why would you have a list of approved providers? Are you international?
The OP probably works for a financial institution in some capacity. They often restrict where an employee can invest for compliance reasons.
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"Approved Providers"? What's that? Why would you have a list of approved providers? Are you international?
The OP probably works for a financial institution in some capacity. They often restrict where an employee can invest for compliance reasons.
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Ah - okay that makes sense. Thanks for the info.
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Can you buy Vanguard ETFs through Wells Fargo?
Vanguard funds are on my not allowed to buy no matter who the broker is list.
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I have been with TDAmeritrade for years, the only broker I have experience with. $6.95 per trade on stocks and ETF's, more for mutual funds but I don't buy them so I don't know what it is. They have no transaction fee ETF's as well, I use a couple, Total US Market SPTM, they are not Vanguard funds. eTrade is probably okay from what little I have read.
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I have TD Ameritrade for my HSA investments. It is a small account and I rarely do more than 1 trade a year but I see nothing there to make me speak ill of them.