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TD Ameritrade Changes Commission-Free ETFs
smallstache:
"Dear Valued Client,
We're happy to announce that we are expanding our commission-free exchange-traded funds (ETFs) trading program, nearly tripling the number of available funds to 296. Since you’re currently enrolled in the commission-free ETF trading program, we want to be sure you have all the details so you can determine how these changes can meet your investing needs."
Blah, blah, blah. Gone are all Vanguard ETFs from the list, as well as several other lower cost options, such as ITOT (.05% fee) which is replaced with SPTM (.1% fee). There are even some real winners added to the list--a number of "market neutral" ETFs with fees of 3+%, 7+%, even 11+%.
DarkandStormy:
So I mistakenly rolled my old 401(k) to TDA on a false assumption - I had called and was told I'd meet the min. required for the cash bonus, rolled it over, and then was told rollovers are not part of that promotion.
I picked some Vanguard ETFs (during the free commission intro period) and have let them ride since, but really just want to get everything out and roll it to Vanguard (yes, I'll have to eat the account closure fee). Will this impact my decision at all? I assume not since I'm not trading within the TDA account anymore.
smallstache:
I only use TD Ameritrade for my kids' Coverdell Savings Plans. I make one purchase a year when its time to make contributions. It's the sales I am more concerned about.
Most brokers, including Vanguard, want to steer me towards higher-fee 529 plans, so they no longer offer Coverdells.
Can't win:(
Car Jack:
I hold VTI at TDA and thought it was the best of both worlds. One of the cheapest, bestest equity ETFs at one of the best brokerage houses at no cost. I'll leave it there but I ain't adding a penny to that account and will withdraw any dividend money.
RWD:
I guess the expense ratio for SPTM (SPDR Portfolio Total Stock Market ETF) is supposed to have just dropped to 0.03%:
http://www.etf.com/sections/features-and-news/state-street-debuts-low-cost-etfs
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