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Old 08-03-2019, 05:59 AM   #1  
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Default Heads up to USAA Brokerage Users

I know there are a lot of USAA users amongst us. Just an FYI if you use their brokerage accounts and keep cash sitting idle in them (although I donít know why you would, looking at the expense ratios). See below.

https://www.financial-planning.com/news/veterans-with-usaa-to-see-reduced-cash-yields-following-charles-schwab-deal
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Old 08-03-2019, 06:08 AM   #2  
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Great post. I had a few squadron mates tell me they used USAA and I said, google Vanguard expense ratios and compare them to yours. They moved their money that day. USAA is expensive!
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Old 08-03-2019, 07:33 PM   #3  
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I did get an email that USSA investments were going to Schwab anyway. In a former life I actually was a broker for them (Schwab) and it was a good company, but we were told to up sell and try to acquire additional assets/business and Iíve stuck with USSA because they have never done that and now Iíll guess Iíll shop around if thatís going away.
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Old 08-04-2019, 05:08 AM   #4  
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It may actually be a better deal for usaa brokerage users as their investment world just got bigger. But, if people arenít paying attention their yield just went down so they may want to look at the new options available via Schwab. Also, canít ignore the fact that this is a shift in the underlying mission of USAA from what they once were to the direction theyíre going. I use them for checking and as long as they keep reimbursing my non USAA ATM fees Iím ok with that. Insurance, savings and investing can be gotten at much more reasonable rates elsewhere.
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