I am a long-time owner of OAKBX in a taxable account.

Right now, am in the process of adding OAKBX to a traditional IRA -- am opening the account with Oakmark, paying the $15 (opening and annual fees).   As soon as its open, I will then transfer it to my existing acct with  TD Ameritrade, where there are no fees and no TF fees.

Point is, if you don't like the annual fees, just transfer your balance to a custodian which does not assess the fees... 

 

there is a transfer fee too. i am thinking of moving it to a new schwab ira or to consolidate with fido(hv a taxable a/c there)

regards

Anybody know what the transfer fee is?  I went to Oakmark's web site could not find it.

Thanks 

I don't remember paying a transfer fee, and they must have raised the annual to $15 from $10. Really seems like a waste of time to jump through hoops to avoid paying a few bucks. They could always close the brokerage pipeline, too. What then? Transfer back.

I recently opened an IRA account there and made an transfer afterwards. They charged  $5 IRA setup fee, $10 annual fee, and $10 transfer-out fee.

kchnew:

I recently opened an IRA account there and made an transfer afterwards. They charged  $5 IRA setup fee, $10 annual fee, and $10 transfer-out fee.

Thanks for the information. 

In early January I opened a Roth account with Oakmark, investing $4,000 in OAKBX.  They charged me $5 to open the account.

 Today, that account is worth $4,329.  That's an increase of 8.2% in less than five months.  And -- need I point out? -- at a time when the S&P 500 is down more than 5% YTD.

 Seems to me you can sum this up in two words:

1. No

2. Brainer

(I also have OAKBX in a 457, and a small amount in a taxable account with Oakmark, just to leave the door open in case they close it to new investors.  It's now 10% of my portfolio, and I sleep very well, thank you kindly.)

Some people are just plain cheap. They want everything for free...except for their $2 bottles of water and $4 cups of Starbucks. Good for you dwitzee. I invest with Oakmark as well :-) Clem

dwiltzee:

(I also have OAKBX in a 457, and a small amount in a taxable account with Oakmark, just to leave the door open in case they close it to new investors.  It's now 10% of my portfolio, and I sleep very well, thank you kindly.)

I'm probably committing a faux pas since this is an Oakmark forum, but since you raise the issue of closing to new investors, I feel that it might be worth a comment that FPACX has reopened to new investors with the same arrangements - buy with them, transfer funds.  These two balanced funds are consistently at the top of the moderate allocation charts, and having access to both can't be a bad thing!  As soon as the transfers are completed, I'll be invested in both with about a 3:1 ratio Oakmark to FPA, and I then have a fallback position should McGregor retire.

Why transfer anything? You don't think its fair that a investment shop offers you their services and they charge a fee? My God what are they thinking. It's like when my father owned his business and his customers were trying to get them to sell his products for the same cost as he bought them for..or cheaper. It's kina hard to stay in business that way. You people with gobs of money are trying to save $10 a year on an IRA fee. Gimmie a freakin break. Also don't come at me cause your a cheap skate and want everything you think your owed in life. I'm just telling the truth. If being called cheap bothers you then you obviously know somethings wrong with you.

You want your OAKBX but don't want to pay the tiny fee that you blow on lunch everyday. What is it that bothers you? Is it because those people you rely on to make you money actually would like to be paid for their service to you? Those bastards!!!  Do you try and sue people for looking at you wrong too? Probably not cause they would require a lawyer fee and you wouldn't want to chance that.

In the end your probably right. I have 20 yrs to retirement and at $10/yr. that eqates to $200. That may break me in 2028.

ClemG:

Why transfer anything? You don't think its fair that a investment shop offers you their services and they charge a fee?

 Hi,

For me the fees are secondary.  The reason I would want to transfer to a brokerage house is the convenience; much easier to rebalance with my other funds that are not Oakmark.  Have a good day.