I appreciate everything I have learned from this site and forum!
I currently have two taxable accounts, which I use after maxing out roth and 401K. One is with edwardjones.. another is tdameritrade. I am wondering if I should combine them into a single Vanguard account?
My EJ holdings:
Stocks -> $6k
Mutual funds -> $16k
iShares ETF (IEFA) -> $6.8K
TDAmeritrade:
Stocks -> $3K
Vanguard ETF (VTI, VUG, VIG) -> $12K
iShares ETF (SCZ) -> $3K
SPDR ETF (SPAB) -> $2K
I have left EJ as is- mostly to avoid paying closing\transfer fees on the account, and as long as I do not make changes I have minimal fees. No new money has gone into this account for years. I know the mutual funds are high-fee, but they have been performing okay the past few years.
I was using TDAmeritrade because of the commission free vanguard ETFs, but they no longer are. I also have the option to keep using tdameritrade, and just start putting new money into the "replacement" ETFs they offer commission-free.
I think moving to vanguard would simplify things since I could continue to use vanguard funds and not manage a combination of similar ETFs, but I do not have enough in vanguard funds now to meet minimums to keep fees down. I also want to avoid paying 25% tax rate by selling ETFs to consolidate between ishares and vanguard.
I have some money that I am waiting to add right now until I make a decision. Any tips about how to simplify the two portfolios without incurring taxable transactions or extra fees?
Thanks!