I understand your concern with USAA offloading everything. I used to feel the same and have been screwed by USAA a couple of times in the past (won't bring it up further to keep on topic here). That being said, I long ago pointed out the many flaws with USAA's brokerage and investment services. As a result, I started to look for a new place to invest my money, I first started at Capital One and they were just so so but still ok I guess. I found Schwab a couple of years ago and moved all my money there. If anyone thinks USAA has good customer service, I challenge them to call Schwab, they are polite, professional and are actually happy to speak with you. They have solved every question or concern on the same phone call (or chat session). USAA could learn a lot from Schwab in this department. With how great Schwab has been I completely moved everything (bank account and all) to Schwab this year and am so happy with them. I only have VPP with USAA any more.
I encourage people to at least give Schwab (who has interest rates on normal and brokerage accounts far superior to USAA) a chance as they are hands down better than anything USAA ever was or could be.
I applaud USAA for making this happen if the decision was based on what's best for members than good job. If it was based on profit margins, then good job as your members will now make more money in interest, fewer fees, better expense ratios, better funds, lower commissions and the list goes on. USAA will be better able to focus on its own profits (and larger subscriber reimbursements to us) as a result. So this is a heads the members wins, tails the member wins and USAA makes a bit more situation.
