USAA investments switching to Schwab

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labumfam
Posts: 4
Joined: Sun Oct 16, 2016 7:42 pm

USAA investments switching to Schwab

Post by labumfam »

Looks like as of May 26th 2020 investment accounts with USAA will be taken over by Schwab. For those who have investments in USAA are you okay with Schwab or do you plan on moving your accounts to another financial institution?

Bubba
Posts: 169
Joined: Thu Mar 05, 2020 3:40 am

Re: USAA investments switching to Schwab

Post by Bubba »

labumfam wrote:Looks like as of May 26th 2020 investment accounts with USAA will be taken over by Schwab. For those who have investments in USAA are you okay with Schwab or do you plan on moving your accounts to another financial institution?
I invest a bit with them, but most with Fidelity and M1. I'll probably throw more at those 2. Schwab has nothing to offer.

crondanet5
Posts: 4324
Joined: Tue Aug 19, 2008 8:51 pm

Re: USAA investments switching to Schwab

Post by crondanet5 »

Where did you hear it was Schwab?

labumfam
Posts: 4
Joined: Sun Oct 16, 2016 7:42 pm

Re: USAA investments switching to Schwab

Post by labumfam »

Under the My Accounts Section of my USAA account there is a note with a link to the transition details. That link states that my ROTH IRA will transfer to Schwab as of 29 Mar 2020.

crondanet5
Posts: 4324
Joined: Tue Aug 19, 2008 8:51 pm

Re: USAA investments switching to Schwab

Post by crondanet5 »

Got it. My account is moving to Victory Capital. I was impressed with their criticism of the poor investment choices USAA had made in their Aggressive Growth account. I used to tally the Friday cob share prices. Once when talking with a USAA representative I pointed out that the share price two years ago was better than the share price last Friday. He quickly ended our conversation. My choice is Palisades Research Systems (http://www.stocmarket.com) that another Gamer from this web site shared with me a while back. His 2019 gain was 40% but he downplays that. So far this year my account is up some 25% I believe. I use Palisades as a litmus test to see how well my stock trades work compared to his daily reallocations. Anyhow, I await Victory Capital to see what portfolio changes they make and whether my account balance grows faster. I thought all USAA accounts would transfer to them. Must have been some competitive bidding dividing up the spoils. Hope your account grows well for you.

slider02
Posts: 2
Joined: Thu Dec 24, 2009 3:24 am

Re: USAA investments switching to Schwab

Post by slider02 »

I am informed by USAA that my mutual funds are transferring to Victory Capital while my Brokerage accounts to Schwab on 26 May. Thanks for the exchange and tips here. I started exploring other options in which efforts have been toward fees on the lower side. I was advised to consider total performance which is hard to do in today's climate of uncertainty. I will likely watch the transfers happen while I patiently assess.

crondanet5
Posts: 4324
Joined: Tue Aug 19, 2008 8:51 pm

Re: USAA investments switching to Schwab

Post by crondanet5 »

Palisades posts a daily comment on where funds have been placed for tomorrow. You might start reading it to see how another investor moves money around. Somedays good, somedays not so good but the general trend beats my efforts, maybe yours as well. The goal is a million regardless the paths followed.

labumfam
Posts: 4
Joined: Sun Oct 16, 2016 7:42 pm

Re: USAA investments switching to Schwab

Post by labumfam »

Thanks for the info everyone and good luck.

Scorpio70
Posts: 432
Joined: Thu Dec 24, 2015 11:49 am

Re: USAA investments switching to Schwab

Post by Scorpio70 »

I like Vanguard. I like having more than 2 trades a month.

sprakass
Posts: 65
Joined: Fri Oct 01, 2010 9:48 am

Re: USAA investments switching to Schwab

Post by sprakass »

Sticking with M1

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IRQVET
Posts: 92
Joined: Tue May 03, 2016 12:45 am

Re: USAA investments switching to Schwab

Post by IRQVET »

USAA needed to do something, because their investment services were terrible IMHO. All I use them for nowadays is my kids 529 college savings accounts. All my retirement investments I pulled from them years ago after dismal returns and too few investment choices.
Operation Iraqi Freedom Veteran
Disclaimer: The contents of this thread are known to the state of California to cause cancer.

crondanet5
Posts: 4324
Joined: Tue Aug 19, 2008 8:51 pm

Re: USAA investments switching to Schwab

Post by crondanet5 »

IRQVET do you get the feeling they are in financial trouble due to the massive claims of hurricanes and fires? They are all over the place advertising their company. I wonder why they spend so much money seeking so few. What do you think?

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Fund Prices2021-05-17

FundPriceDayYTD
G $16.59 0.01% 0.47%
F $20.63 -0.05% -2.68%
C $62.31 -0.25% 11.44%
S $80.37 -0.18% 8.31%
I $38.29 0.08% 8.19%
L2065 $13.63 -0.13% 9.77%
L2060 $13.63 -0.13% 9.78%
L2055 $13.63 -0.13% 9.78%
L2050 $27.84 -0.11% 7.89%
L2045 $12.73 -0.10% 7.42%
L2040 $46.52 -0.09% 6.97%
L2035 $12.31 -0.09% 6.44%
L2030 $41.07 -0.08% 5.91%
L2025 $11.69 -0.06% 4.72%
Linc $22.82 -0.02% 2.41%

Pending Allocations

Under development. For now, you may view Pending Allocations by going to "fantasy TSP" and selecting "Leaderboard sort" of "Pending Allocations".

What else

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