Should I open a Roth IRA with a stock broker or my bank?

Question:

I have an account with TD Banknorth and with Scottrade. I would like to open a Roth IRA before the end of the month. Who should I open with? Also, who charges more? What kind of fees am I looking at? I dont want to give my hard earned money away!

Answer:
If you have an account w/ Scottrade, go ahead and just open your IRA with them...if you are the least bit familiar with trading, mutual funds or stocks you stand a much better chance of increasing the value of your IRA by occasionally moving it.Your bank would let it sit at 5.5% forever. Even cautious funds should almost double that...and if you're youngish (30/35) ... you could probably look into funds that may be getting 15 or 17% .doubling your money quickly (in IRA terms) and then as you get older, get a little " stodgier" and go to the super-cautious funds at the 6 or 7% your bank offered way back when!!

Scottrade only charges $7-10 per trade, and you could set up a
Roth with only one trade.
I am guessing your bank would be much more expensive.

Better open it with your Bank : more reliable.

Per the advice of my financial advisor, I opened mine with my bank.

Should I open a Roth IRA with a stock broker or my bank?

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