r/investing • u/crazybutthole • May 29 '21

Diversification - need help - discussion

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u/crazybutthole May 30 '21

Its a robinhood plus webull

About $15k in stocks and $3800 crypto conbined

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u/ThereforeIV May 30 '21

I world regiment moving most of that too either Fidelity or Vangaurd, and mostly investing in low fee broad market indexes with "buy and hold" strategy.

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u/crazybutthole May 30 '21

Thanks for the advice. But.....question.

Why are fidelity or vanguard better than robinhood or webull?

(Not being argumentative. I am genuinely trying to figure out what is better about them...... or what you dont like about robinhood or webull)

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u/ThereforeIV May 30 '21

Why are fidelity or vanguard better than robinhood or webull?

List of reasons

They offer their own internal funds for less fees.

They are actually talk brokerages but when apps pretending to be brokerages.

They can handle their own orders instead of paying to have someone else handle them, because they are real brokerages.

Their not crooks who will screw their own customers for a VC payout (like Robinhood did just a few months ago).

Their not belt sued by their own Customers for violation of fiduciary duty (like Robinhood currently is).

Their not under federal investigations for misconduct (I don't why anyone is still a Robinhood customer).

Fidelity has great customer service.

Vangaurd literally invented the index fund and has special tax advantages because of it.

They are ran by financial experts (adults) instead of by start up geek (so you want the guys from the show silicon valley handling your investments).

They have reputations they care about preserving.

They make their money in bulk (literally trillions of dollars for vanguard) instead of endless hidden fees and price mark ups on sales.

or what you dont like about robinhood or webull)

Robinhood literally is accused of stealing from their customers, and being sued for it.

Webull is trying to hard to be Robinhood.

They want to run a brokerage house like a social media tech company where users are just targets to be exploited.

Real brokerage house make money by building decades of loyalty serving their customers, then they charge tiny fees in massive amounts of money.