Treasury bills through Schwab — fees??
Hi Terry,
We purchased a significant amount of treasury bills through Schwab. I am now being charged an annual fee of 1% on the treasury bills. Does this seem right? Since this issue with Schwab I did open a Treasury Direct account and found out how easy it is.
Please give us some insight on the fees charged by Schwab.
Thank you
Terry Says
If they are “managing” your money, you agree to pay fees.
But I agree that this is totally unnecessary with T-bills. If they are not inside an IRA, you can buy them yourself.
And I would go back to the financial advisor that is handling your account at Schwab and DEMAND that they stop including your T-bill assets in your total “managed” assets — and that you not pay any fees on that T-bill money. In fact, you should ask for a refund of fees paid on T-bills!
