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?
Re: Charles Schwab
[quote=saden1;249951]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?[/quote]
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:
[B]A. How often am I trading in and out of these funds?[/B]
[B]B. What are my other costs besides trading. (i.e. account maintanance fees, etc.)[/B]
[B]C.Compare apples to apples and see how much it would cost to do the same thing in the same fund(s) as EDJ.[/B]
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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