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341
Breaking up with my Broker
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I have around $3.6 million in a taxable account at Merrill Lynch. I’m paying 70 bps in management fee and I would say that performance has been ok, but not great. I’ve underperformed the S&P by a few % for the last four years. I want to move this account to vanguard and do more of a boglehead approach. BUT, I have $400k on a line of credit (LMA) with Merrill that I think I’d have to pay off in order to move the money.

I don’t want to have to sell stocks to pay this off but don’t want to leave it there either. Any suggestions?

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Posted
2 months ago