Quote:
Originally Posted by jalexand42
I don't have any real input, but if you elect to do this, I'd love to hear how it goes. I have looked at their serviced and it is tempting, other than the fact I already have substantial capital gains built up on my taxable account holdings (ETF's) and am not willing to eat the gains to move it to something like this.
The effort required to report all of the transactions on taxes is a big deterrent too, but that's just me being lazy. I'm also reluctant to pay any advisory fees after moving away from that a few years ago.
Done. I bought VO and VB, plus a total of 268 stocks from the mega cap index today on IB (all MOC orders, to avoid paying the bid/ask spread). It only cost a total of $99.25 in commissions. I left out TSLA, KMB, and PNC because they suck, and took the cheapest of the share classes for the few companies that have multiple classes (the weirdest ones are FOX voting shares selling at a
discount to the non-voting shares, and VIA voting shares selling at a large 13% premium over non-voting shares - lol efficient markets).
I don't think taxes will be too bad when I sell, but time will tell I guess. I've never had any issues with IB screwing up my cost basis, but I imported all the trades into Excel so I can track everything myself to double check just in case.