Whether you’re with Schwab (I am) or other mutual fund companies, they all offer increased services and advocate at various thresholds. Typically, $1 Million or more gets you a certain set of services, and those services are expanded at $5 million. Raymond James, for example, an Investment Advisory/Management company, has their “By Invitation Only” tailored client services starting at $5 million. Those services not only offer advice, but often products that are only available at those tiers.
Which brings me to a point: I would strongly consider choosing a company and aggregating.
This has two advantages — one, you achieve the tier levels faster and two, you reduce your administration/accounting.
For example, at the moment, we have money with Schwab, Fidelity, Vanguard and T. Rowe Price. So, our ability to analyze our asset allocation and total portfolio is more challenging than it needs to be. There are some unique investments in some of those companies - for example, I am in a closed fund with T. Rowe Price - but those unique opportunities are offset, by the lack of tier recognition that would be available with aggregation, and the increased management and analysis difficulty.
