what invesment company do you use?
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Senior Member
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From: F150online's version of AA
what invesment company do you use?
Ive been looking into doing like stock, bonds, mutual funds........and im wondering what company do you use? whats good or bad about them?
Junior Member
Joined: Jul 2002
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From: Arizona
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Joined: May 2002
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From: Southern Nevada
Vanguard and T. Rowe Price are online as well. They have very low fees compared to some of the other companies like Merrill Lynch and Dean Witter. Vanguard and T. Rowe are also notoriously conservative in their investments. I am risk adverse so I like that quality in them.
I actually have my Roth with another company that my boss uses and because they waived the fees for me because of his investments. However, he recently suggested that I open an account company because he is not thrilled with them right now. The Motley Fool site, www.fool.com has many message boards with topics like this one.
I actually have my Roth with another company that my boss uses and because they waived the fees for me because of his investments. However, he recently suggested that I open an account company because he is not thrilled with them right now. The Motley Fool site, www.fool.com has many message boards with topics like this one.
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Joined: Mar 2001
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From: Kosciusko, Mississippi
What's up Crazed?
I can't help on this one. I invest through
the deferred compensation program for state
employees. We pick the investments we want
from a list of about 20 options. I have
my money invested in Fayez Sarofim, Barclays,
and T. Rowe Price. I have really taken a
beating over the last four weeks. My losses
come to over $2,000. I am not a happy camper.
Good luck with it though.
the deferred compensation program for state
employees. We pick the investments we want
from a list of about 20 options. I have
my money invested in Fayez Sarofim, Barclays,
and T. Rowe Price. I have really taken a
beating over the last four weeks. My losses
come to over $2,000. I am not a happy camper.
Good luck with it though.
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Joined: Jun 2001
Posts: 450
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From: DeLand, FL
Re: what invesment company do you use?
crazedf1
I'm sure you don't need anymore advice, but what the heck. My situation is a little different from you (or maybe not) due to the fact that I trade options on the CBOE. Without getting into ridiculous detail, dealing with any kind of derivative instrument you need excellent real time quote access, immediate trade confirmation, and reasonable option trading fees. Both Fidelity and Charles Schwab have excellent online trading "****pits" and excellent quotes and trade confirms, as well as reasonable fees. However to access their finest features they both require $100,000 minimum balance.
If you will frequently be purchased and selling investments (which doesn't make sense with mutuals), I'm talking stocks and bonds, you will want an investment house with low trading fees. Typically, the lowest trading fees tend to be the online only, or online primarily brokerages, such as Datek, E-Trade, etc. I tell you, I do still keep my Datek account, because as far as trade execution Datek is still amazingly quick, under a minute or your trade is free. In addition, Datek offers rebates to their customers depending on their financial situation, so I constantly get rebates on my trades, which lowers the price to maybe $5 a trade sometimes. Brown and Brown is another good low-priced broker.
Realize the down side to totally online brokerages such as Datek is if you want your money you are going to have to wait a week or two, or pay for a money order, as there is no office to go pick up a check.
Other institutions such as Merrill Lynch and Dean Witter, Fidelity and Charles Schwab, etc., are great if you are going to buy and hold. Their trading fees are high, but who cares if you hold. The upside to these guys is there is typically an office close by, and they have much nicer financial statements that they send you, if you happen to care about stuff like that.
One more note, if you will be trading/investing primarily in mutual funds, I would suggest opening the account with the fund manager, as there will be no brokerage charge, and you can typically move in and out any of the fund family for no charge. So if you were going to invest in Fidelty Lifestyle 20, you would want to open your account with Fidelity. Were you to open a Datek account, and then try to purchase that mutual, you would be charged a broker fee. If you wanted to sell and move into Fidelity Lifestyle 30, you would then be charged two fees, while you wouldn't be charged a dime if you were with Fidelity.
Which leads me to another distinction, Brown and Brown, E-Trade, Datek, Waterhouse, etc. etc. are all brokerage houses. Fidelty and Merrill Lynch, etc. are brokerage houses and money managers, meaning they have their own mutual funds to invest in...however I won't ramble on any further...hope you get something useful out of this...
I'm sure you don't need anymore advice, but what the heck. My situation is a little different from you (or maybe not) due to the fact that I trade options on the CBOE. Without getting into ridiculous detail, dealing with any kind of derivative instrument you need excellent real time quote access, immediate trade confirmation, and reasonable option trading fees. Both Fidelity and Charles Schwab have excellent online trading "****pits" and excellent quotes and trade confirms, as well as reasonable fees. However to access their finest features they both require $100,000 minimum balance.
If you will frequently be purchased and selling investments (which doesn't make sense with mutuals), I'm talking stocks and bonds, you will want an investment house with low trading fees. Typically, the lowest trading fees tend to be the online only, or online primarily brokerages, such as Datek, E-Trade, etc. I tell you, I do still keep my Datek account, because as far as trade execution Datek is still amazingly quick, under a minute or your trade is free. In addition, Datek offers rebates to their customers depending on their financial situation, so I constantly get rebates on my trades, which lowers the price to maybe $5 a trade sometimes. Brown and Brown is another good low-priced broker.
Realize the down side to totally online brokerages such as Datek is if you want your money you are going to have to wait a week or two, or pay for a money order, as there is no office to go pick up a check.
Other institutions such as Merrill Lynch and Dean Witter, Fidelity and Charles Schwab, etc., are great if you are going to buy and hold. Their trading fees are high, but who cares if you hold. The upside to these guys is there is typically an office close by, and they have much nicer financial statements that they send you, if you happen to care about stuff like that.
One more note, if you will be trading/investing primarily in mutual funds, I would suggest opening the account with the fund manager, as there will be no brokerage charge, and you can typically move in and out any of the fund family for no charge. So if you were going to invest in Fidelty Lifestyle 20, you would want to open your account with Fidelity. Were you to open a Datek account, and then try to purchase that mutual, you would be charged a broker fee. If you wanted to sell and move into Fidelity Lifestyle 30, you would then be charged two fees, while you wouldn't be charged a dime if you were with Fidelity.
Which leads me to another distinction, Brown and Brown, E-Trade, Datek, Waterhouse, etc. etc. are all brokerage houses. Fidelty and Merrill Lynch, etc. are brokerage houses and money managers, meaning they have their own mutual funds to invest in...however I won't ramble on any further...hope you get something useful out of this...
Re: what invesment company do you use?
