Timeline for Choosing a Trust Bank/Investment Account
Current License: CC BY-SA 4.0
11 events
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| Dec 16, 2019 at 2:01 | history | bumped | CommunityBot | This question has answers that may be good or bad; the system has marked it active so that they can be reviewed. | |
| Nov 16, 2019 at 19:23 | comment | added | Bob Baerker | @Phil Sandler - It's quite possible that it varies over time. It's only a guess but in my modest experience with CDs acquired through brokers, discount brokers had less inventory to offer and full service brokers (a thing of the past) had more and made more effort. Re deleting your own question: You posted a good faith question, asking for information to assist you in the FINANCIAL affairs of your mother's estate and that's PERSONAL. AFAIC, too many questions are deleted because they don't perfectly fit some rigid criteria. Leave it be and let the chips fall where they fall. | |
| Nov 16, 2019 at 18:23 | comment | added | Phil Sandler | As @dwizum pointed out, this is not a great SE question. Should I delete it? I can't think of a way to reword it so that it makes a good question. | |
| Nov 16, 2019 at 18:21 | comment | added | Phil Sandler | @BobBaerker: What you are saying makes sense, but it was not my experience when I made the linked post. At the time, I found the disparity in rates to be perplexing (which is why I posted), for the same reasons you mentioned. Maybe this has changed in the years since I posed that question? | |
| Nov 16, 2019 at 5:19 | comment | added | Bob Baerker | @Phil Sandler - Based on comparing CDs at Fidelity and E*Trade you concluded that broker CDs offer less than bank CDs. Looking at 2 brokers is a finite sample. Wouldn't it stand to reason that broker who scans CDs throughout the country would provide access to the best rates? It's been some time since I did this but Vanguard got me a CD from a bank offering the highest CD yield. I could have gone straight to that bank but if they didn't raise rates as others raised or if they lowered, I'd lose wire/mail time. At the broker, no need to move money. Just find best US CD at next renewal. | |
| Nov 16, 2019 at 3:13 | comment | added | Phil Sandler | @BobBaerker I think they are competitive right now, but see my question here: money.stackexchange.com/questions/20567/…. | |
| Nov 16, 2019 at 1:18 | answer | added | JTP - Apologise to Monica♦ | timeline score: 1 | |
| Nov 15, 2019 at 20:39 | comment | added | Bob Baerker | I disagree with the premise that brokerage CD rates tend to be less competitive than bank CD rates. If your bank decides not to compete, you' have no options. A broker has the ability to shop around the country for best yields. In addition, sometimes a broker can get you a better yield on an existing CD where the owner is willing to sell at a small discount in order to get their money out before maturity and that discount is less than penalty that the issuer would charge. Check with your Fidelity and take a look at Vanguard. | |
| Nov 15, 2019 at 20:30 | review | Close votes | |||
| Nov 16, 2019 at 2:30 | |||||
| Nov 15, 2019 at 20:24 | comment | added | dwizum | This reads a bit like a shopping-list question, which are usually considered off topic, since it's hard to fit a product or service recommendation into the Stack Exchange format. You might want to poke around in the help center and see if you can reword this to avoid closure - I see you've already got one close vote, probably for this reason. | |
| Nov 15, 2019 at 20:12 | history | asked | Phil Sandler | CC BY-SA 4.0 |