I had E. Jones for a while. Every stock I purchased was $450 commission fee. The broker would cald me 3 weeks later and say it was time to sell. When I sold it, I paid $450 commission fee.

No more Jones for me. The Scott and Vanguard wire-houses work fine, for $7 each way, but no advice.

Still wondering, does Schwab give advice?

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Posted by 12Buck

Baton Rouge

Member since Jul 2005

592 posts

Posted on 12/27/12 at 1:07 pm to matthew25

quote:
Every stock I purchased was $450 commission fee. The broker would cald me 3 weeks later and say it was time to sell. When I sold it, I paid $450 commission fee.

I hate these types of examples. Were you trading 100k worth of stock of 5k? When he called you in 3 weeks did you have a big profit? Did something materially change in the investment? This is all important.

Paying $900 round trip seems high but if it was on 100k it's less than 1% if it's on 5k it's nearly 20%. Makes a big difference.

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Posted by NBR_Exile

Houston via Baton Rouge

Member since Jul 2012

984 posts

Posted on 12/27/12 at 2:44 pm to matthew25

My wife and I have most of our accounts with Schwab. Extremely pleased but I am comfortable managing our finances. Schwab does give advice. We have a Schwab consultant that emails/calls occasionally offering help. Not sure but it might be tied to the size of the account though. I've emailed her several times with questions and have even had a portfolio checkup done. They will/can not give advise on your employer 401ks. Only the accounts with them. I think it is a banking regulation thing if I not mistaken.

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