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Charles Schwab

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Old 11-22-2006, 07:50 PM   #1
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Charles Schwab

Anyone use this firm? I'm thinking of switching out of Edward Jones to Charles Schwab. Any experience with Schwab's No-Load Funds and their Mutual Fund OneSource? Do they nickel and dime you?
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Old 11-22-2006, 08:13 PM   #2
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Re: Charles Schwab

Quote:
Originally Posted by saden1 View Post
Anyone use this firm? I'm thinking of switching out of Edward Jones to Charles Schwab. Any experience with Schwab's No-Load Funds and their Mutual Fund OneSource? Do they nickel and dime you?
I don't use either, but both are good firms depending on what you're trying to do. Ed Jones is a full service firm, where as Schwab is a discount broker, meaning it's suppose to be cheaper for the average joe. Which again depends on how much trading you actually do and how often.

In a nutshell, you really have to look at a few things:

A. How often am I trading in and out of these funds?
B. What are my other costs besides trading. (i.e. account maintanance fees, etc.)
C.Compare apples to apples and see how much it would cost to do the same thing in the same fund(s) as EDJ.

Personally I don't like no-load funds because they really aren't 'no-load' at all. They do charge a fee, but it's taken out of the total return so the investor doesn't really 'see' it. So most people take that literally, 'I don't pay anything to be in this fund' - myth! Also, no-load funds charge what they call a 12b1 fee.
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