Changes to USAA's Brokerage Services

[Stoplight]

All,

Not sure where to post this to get the most exposure...discussed it briefly in my Retirement thread, but decided to go here...just a "head's up" !!!

So, for those of us who use USAA Brokerage for our non-TSP trades, we were recently notified that USAA is changing their trading platform. I have my and the Wife's Rollover IRAs with them, as "self-directed" brokerage accounts. Today, I just noticed a little line on my IRA account "Positions" page that said :

"USAA is making improvements to your investment account. Learn more " so I clicked on it ! :D Here is the "take-away" that I got from the FAQ...you might want to read them yourself, and plan accordingly !!!

- "Customers will now be able to place trailing stop orders, loaded mutual funds, short sales, and uncovered options orders through usaa.com and USAA mobile applications. In addition, customers will have access to more than 6,000 mutual funds through USAA Fund Marketplace."

- If you have a Margin account (I don't...), there are some additional things/paperwork that need to be done

- Effective date of the conversion/transfer is 6 Aug...lot's of info on some of those impacts

- some changes to the "good till cancelled" orders, transfer of fractional shares, transaction fees for certain mutual funds, and changes to tax reporting and statements.

So...if you're affected, you might want to give the FAQ a read !


Stoplight...

[GUCHI]

Stoplight I appreciate the info on usaa. I have heard about opening a brokerage account but do not know a thing about it, other than you have tons more options to invest in. I recently retired 5/1/14. My broker with tdameritrade wants me to roll my tsp into an Ira but I'm not sure on that yet. I need to learn more one way or another before I do anything, that's just me. Good luck to you and happy retirement to you.

[JTH]

All,

Not sure where to post this to get the most exposure...discussed it briefly in my Retirement thread, but decided to go here...just a "head's up" !!!

So, for those of us who use USAA Brokerage for our non-TSP trades, we were recently notified that USAA is changing their trading platform. I have my and the Wife's Rollover IRAs with them, as "self-directed" brokerage accounts. Today, I just noticed a little line on my IRA account "Positions" page that said :

"USAA is making improvements to your investment account. Learn more " so I clicked on it ! :D Here is the "take-away" that I got from the FAQ...you might want to read them yourself, and plan accordingly !!!

- "Customers will now be able to place trailing stop orders, loaded mutual funds, short sales, and uncovered options orders through usaa.com and USAA mobile applications. In addition, customers will have access to more than 6,000 mutual funds through USAA Fund Marketplace."

- If you have a Margin account (I don't...), there are some additional things/paperwork that need to be done

- Effective date of the conversion/transfer is 6 Aug...lot's of info on some of those impacts

- some changes to the "good till cancelled" orders, transfer of fractional shares, transaction fees for certain mutual funds, and changes to tax reporting and statements.

So...if you're affected, you might want to give the FAQ a read !


Stoplight...

Thanks Stoplight, I hadn't been monitoring my brokerage account and haven't seen any notifications of these changes applying the the ROTH IRA.