New Vanguard VBO Option for RSP
04-14-2016 | 04:04 PM
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From: 11CA
New Vanguard VBO Option for RSP
Sorry, but I couldn't find the previous thread discussing this (Vanguard Brokerage Option (VBO)).
I called Vanguard. Here are the basics:
1) Vanguard brokerage has to MAIL you an application (7-10 days). Then up to 5 biz days to process it, once they receive it (if no errors).
2) Securities available: most any Mutual fund, ETFs, Stock (except FDX), ADRs, Bonds, Mortgage Backed Securites, CDs, and Options (only Covered Calls and Protective Puts at this time).
3) Fees: $50 every November. Most of us fall into the Voyager ($7/trade) or Voyager Select ($2/trade) categories (lots of caveats depending on the security traded).
4) 100% of your RSP can be transferred to the VBO.
5) Monthly contributions can go directly to the VBO (once established).
If anyone has done this and has corrections/changes/suggestions, please chime in.
Yes, the VBO option is not suitable for everyone!
.
I called Vanguard. Here are the basics:
1) Vanguard brokerage has to MAIL you an application (7-10 days). Then up to 5 biz days to process it, once they receive it (if no errors).
2) Securities available: most any Mutual fund, ETFs, Stock (except FDX), ADRs, Bonds, Mortgage Backed Securites, CDs, and Options (only Covered Calls and Protective Puts at this time).
3) Fees: $50 every November. Most of us fall into the Voyager ($7/trade) or Voyager Select ($2/trade) categories (lots of caveats depending on the security traded).
4) 100% of your RSP can be transferred to the VBO.
5) Monthly contributions can go directly to the VBO (once established).
If anyone has done this and has corrections/changes/suggestions, please chime in.
Yes, the VBO option is not suitable for everyone!
.
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