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birb_cromble  1mo ago (text post)   1092 thread views

Weekly Finance Thread - 2026-08-08

A weekly thread to discuss financial matters - from personal all the way up to global.

Ground Rules

  • Remember that we're all just Internet randos. Don't bet your life savings on a hot tip from this thread.
  • Keep culture war in the culture war thread. Yes, global events may impact our personal finances, but that does not mean we have to incessantly harp on culture war aspects here. If you are going to discuss it, please stick to the practical impacts of it on an individual level.
  • Be kind. Remember that everyone here comes from different circumstances. We all have different resources available and different risk tolerances.
  • Don't let the perfect be the enemy of the good. Better is better. Celebrate people when they take a step up and work to move their finances in the right direction. Don't flame out because they haven't followed what you consider the optimal path. Everybody has to start somewhere.
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If Merrill has a shitty product why would you stay with Merrill? Just fire them and swap to a better firm.

I am not sure what you mean by “high status”. Non of the wealth management private banks have status anymore.

You get 75% stronger BoA credit card rewards if you have 100k combined assets at BoA/Merrill.

Fuck you on one hand and give you a gift elsewhere.

I would probably keep the bear minimum in Merrill and set it up to be something simple like SPY. Then use a different broker for other accounts. Risks-wise I would de-risks other accounts for cash sweeps etc. Fidelity is simple and I think their gui is easy to understand. Interactive Brokers is considered the best.

Interactive Brokers is considered the best.

I've generally heard them recommended for non-US clients. Are they worth it over Fidelity for US citizens residing in the US?

I use fidelity but that’s kind of evidence of stickiness of financial products because I am use to their gui and can find what I want quicker.

IB has access to more international markets and lower margin rates. They get to the point of being semi-pro and not retail. But when I’ve used them I found the front ends to not be an intuitive.

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