3

I want to start investing in index fund S&P500, specifically VFIAX from Vanguard. I went to their website and started creating an account, and then it occurred to me....maybe my bank, Chase already has that feature....indeed it does. With my existing Chase You Invest account, I could easily find the VFIAX and set up periodic payments. Now question.... What is the catch? I called to Chase, and a representative redirected my 10 times, and after hours of waiting and talking to representative, I realized they don't know anything.

Question: should I create an account with Vanguard? Or go the easy way: use my existing account with Chase and invest this way. Maybe there are some hidden fees or something I'm not aware of???

2

There will probably be transaction fees if you buy them through Chase. I can't see what that is, but in fidelity, for example, there's a $75 transaction fee.

If you buy them in a Vanguard account, those fees can be waived (as long as you sign up for paperless statements). You can also avoid the fees in Chase by buying VOO (unless they still charge commission), which is the same thing but in the form of an ETF. You can see this on Vanguard's site:

https://investor.vanguard.com/mutual-funds/profile/fees/vfiax

...where it says "Also available as an ETF", which links to VOO.

3

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.