Author Topic: Brokerage Account with Vanguard  (Read 1879 times)

TheOldestYoungMan

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Brokerage Account with Vanguard
« on: December 10, 2015, 09:52:37 AM »
I got a message when I logged in today that they are moving everyone over to Vanguard Brokerage Services, so you won't have multiple accounts anymore, just the one VBS account.

It sort of looked like you wouldn't own the funds directly anymore you'd own the ETF shares?

Does anyone know what's up with this or what it means?  Does owning the ETF differ from how I currently own the funds?  There was something in there about how buying and selling the ETF could mean getting more or less than the underlying NAV of the share.  That sounds horrifying.  I'm going to have to just build my own index fund.


protostache

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Re: Brokerage Account with Vanguard
« Reply #1 on: December 10, 2015, 10:00:03 AM »
Could you paste the message you saw? I'm not seeing it.

When I hit the upgrade button on my accounts it just transferred the funds into the new corresponding brokerage accounts. It even maintained the cost basis on my taxable account.

tarheeldan

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Re: Brokerage Account with Vanguard
« Reply #2 on: December 10, 2015, 10:03:28 AM »
Yeah, I think I did this a while back - but I don't remember reading this stuff about ETFs. Anyway, I used to have 1 account for Vanguard mutual fund activity and a separate account for non-Vanguard stuff and ETFs. Now it's all 1 is the only difference.

TheOldestYoungMan

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Re: Brokerage Account with Vanguard
« Reply #3 on: December 11, 2015, 03:14:30 PM »
Ahh so maybe that was just the standard disclaimer on ETF's in general.  I just got confusticated?