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Started By
Message
Vanguard Certified Financial Planner
Posted on 5/23/14 at 9:56 am
Posted on 5/23/14 at 9:56 am
I posted a few weeks ago about moving my Edward Jones account to Vanguard. If I do so, I will have enough money in Vanguard assets to qualify for their Voyager Services (min $50K). With that, I can get "A detailed financial plan at a discount. A certified financial planner professional from Vanguard will analyze your investments and saving strategy."
Does anyone have any experience with a CFP from Vanguard? The fee would be $250. Thoughts? Worth it? Should I find a third party fee only CFP instead? It's something I'd likely only utilize once every year or two. The fee seems pretty reasonable.
Does anyone have any experience with a CFP from Vanguard? The fee would be $250. Thoughts? Worth it? Should I find a third party fee only CFP instead? It's something I'd likely only utilize once every year or two. The fee seems pretty reasonable.
2
Posted on 5/23/14 at 10:44 am to That's BS
If your at the $50k level why dont you talk to your Ed Jones guy about their fee based platform since that's really your concern.
Posted on 5/23/14 at 11:45 am to Shepherd88
The purpose of me leaving EJ is to reduce fees. From what I can tell by looking at EJ's Advisory Solutions program's info online, they charge you 1.35% to 1.5% of your account size annually, another 0.09% annual administrative fee, plus the internal fees for whichever funds you are in. 
Even if I assume the lesser of that range, that's 1.44% (or $864 of my ~$60k account) in program and administrative fees before I even start with fund fees. Compared to an optional $250 meeting with a Vanguard CFP, just seems like I'd be getting screwed.
If I go to Vanguard, it would be for the low fee index funds and ETFs. However I'd still like to have someone occasionally check over my accounts with me and suggest any changes they see fit in an unbiased manner.
ETA: And the difference in fees would only get larger as my account grows...
Even if I assume the lesser of that range, that's 1.44% (or $864 of my ~$60k account) in program and administrative fees before I even start with fund fees. Compared to an optional $250 meeting with a Vanguard CFP, just seems like I'd be getting screwed.
If I go to Vanguard, it would be for the low fee index funds and ETFs. However I'd still like to have someone occasionally check over my accounts with me and suggest any changes they see fit in an unbiased manner.
ETA: And the difference in fees would only get larger as my account grows...
This post was edited on 5/23/14 at 11:47 am
Posted on 5/23/14 at 12:00 pm to That's BS
If you're going the index fund route, why do you need an advisor at all? Keep plugging away, and use the extra money to upgrade your CPA 
Posted on 5/23/14 at 12:53 pm to That's BS
Ah, ok. You want the best of both worlds without paying for it. I get it, good luck to you.
Posted on 5/23/14 at 11:05 pm to That's BS
I had a teacher that swears by Vanguard, he is a tax attorney and worked for Merrill Lynch FWIW
Posted on 5/24/14 at 12:47 am to YaDigg11
I did the Vanguard review. Pretty much boilerplate. They advocate 3-4 funds to every person being reviewed and you can find this on the Bogleheads website.
I did give me peace of mind. I was going to spend up to 1k for a review.
I did give me peace of mind. I was going to spend up to 1k for a review.
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