My Discount Broker Taking Me and Two Sons To NFL Game

haha · 10-01-2006, 02:12 PM

Well guys, I think I have finally arrived. My discount broker who never before did anything other than execute my orders invited me and my two sons to a football game.

Not only am I way to cheap to do this on my own, I feel thrilled to be treated like a "playa'.

Last time I went was 20 years ago when a friend couldn't use his tickets at the last minute.

Ha

Sheryl · 10-01-2006, 02:19 PM

Have fun Ha! You are big-time now.

What game are you going to?

samclem · 10-01-2006, 03:43 PM

HaHa,

Have a great time! The best beer is free beer, and that rule probably works the same with NFL games.

Vanguard takes my wife and I on a cruise every year. Well, not exactly. But, if I take the differnce in the ER with Vanguard compared to what I'd pay for "regular" managed funds, it works out to several thousand bucks. So, I could buy a cruise with it--if I weren't so cheap.

Dawg54 · 10-01-2006, 08:24 PM

My former discount broker beat that. He took me to a strip club in Atlanta back in the early 90's.

He churned my account pretty good so he really entertained me with my own money.

Olde Discount, I wonder what ever happened to them?

brewer12345 · 10-02-2006, 07:06 AM

Ha, which brokerage company is this? I assume that you deal with a dedicated individual there?

Schwab occasionally discreetly nudges "my personal advisor" toward me, but I've zero interest, especially as I suspect they would want to be paid for me having to explain things to them. Anyone actually dealt with one of these guys/gals?

Mr._johngalt · 10-02-2006, 07:35 AM

Quote:

Originally Posted by brewer12345

Ha, which brokerage company is this? I assume that you deal with a dedicated individual there?

Schwab occasionally discreetly nudges "my personal advisor" toward me, but I've zero interest, especially as I suspect they would want to be paid for me having to explain things to them. Anyone actually dealt with one of these guys/gals?

Not me, but I have to "explain things" to everyone
and I never get paid for it.

JG

saluki9 · 10-02-2006, 08:52 AM

Quote:

Originally Posted by brewer12345

Schwab occasionally discreetly nudges "my personal advisor" toward me, but I've zero interest, especially as I suspect they would want to be paid for me having to explain things to them. Anyone actually dealt with one of these guys/gals?

I have. I got a call from my local "investment specialist" asking if I wanted any help with my grandmother's accounts which I am the trustee on. I informed him that I currently am managing about $250M with Schwab Institutional and could probably manage my grandmother's trust on my own. I neglected to tell him where he could stick his "complementary portfolio review"

He responded with an "oh" and hung up. Schwab had some problems a couple years ago with their retail side soliciting advisor's institutional clients. I think the penalty for doing so now must be a beheading.

FinanceDude · 10-02-2006, 09:46 AM

Quote:

Originally Posted by brewer12345

Ha, which brokerage company is this? I assume that you deal with a dedicated individual there?

Schwab occasionally discreetly nudges "my personal advisor" toward me, but I've zero interest, especially as I suspect they would want to be paid for me having to explain things to them. Anyone actually dealt with one of these guys/gals?

Guess they "forgot" about the "know your client" standard.............

**Sarah in SC** · 10-02-2006, 09:50 AM

Or as I put it to Schwab Institutional when one of our clients (a widow no less) was getting harassed by a retail Schwab guy--"I want that guy panhandling the streets of Sioux Falls by sunset".

I'm sure there were a lot of chuckles when the tape of tha call was reviewed. And I might have mentioned beheading and a silver platter or something like that...
Sarah

FinanceDude · 10-02-2006, 11:15 AM

Quote:

Originally Posted by mclesters

Or as I put it to Schwab Institutional when one of our clients (a widow no less) was getting harassed by a retail Schwab guy--"I want that guy panhandling the streets of Sioux Falls by sunset".

I'm sure there were a lot of chuckles when the tape of tha call was reviewed. And I might have mentioned beheading and a silver platter or something like that...
Sarah

I would think the Schwab guys would be revered here...........most are paid on salary.................

brewer12345 · 10-02-2006, 11:17 AM

Quote:

Originally Posted by FinanceDude

I would think the Schwab guys would be revered here...........most are paid on salary.................

Yeah, but the firm is paid (handsomely) as a % of assets to do mediocre work.

FinanceDude · 10-02-2006, 11:29 AM

Quote:

Originally Posted by brewer12345

Yeah, but the firm is paid (handsomely) as a % of assets to do mediocre work.

At least someone's making money...........

BTW, I got a call once from a Schwab "advisor" that wanted to "help me with my investments", back when I had a Schwab account outside of my broker-dealer. I told him to look up my profile, and it said "registered investment advisor", and when he asked me which regulatory department I worked for, I hung up on him.................... :P :P

I'll tell my AMEX (Ameriprise) story another time................

youbet · 10-02-2006, 01:12 PM

Just to show you that no brokerage house is perfect, we've had an unfortunate experience with Vanguard. I was helping DW roll her 403(b) to a rollover IRA and got wrong information from a Vanguard representative over the phone multiple times.

Interestingly, when you call to request info about opening a new account, Vanguard assigns a specific person to you and asks you to deal with this person going forward in regard to opening the account. The good news is, now that we have it straightened out, it's been easy to relay the sad situation to management with our recommendation for corrective/disciplinary action.

He didn't know the eligible qualifying events to allow a rollover and was insisting we move the 403(b) to Vanguard as a 403(b) and not as a rollover. What a dufus.

F M All · 10-02-2006, 01:20 PM

Quote:

Originally Posted by youbet

with our recommendation for disciplinary action for ignorance.

What a dufus.

If we were all disciplined for ignorance what a wonderful world this would be.......

youbet · 10-02-2006, 01:23 PM

Yeah!

Perhaps a better way to express it would be to say he needed to be disciplined for being ignorant of the procedures yet acting so confident and pushing so hard.

F M All · 10-02-2006, 01:29 PM

Trained - perhaps with a big stick

10-01-2006, 02:12 PM	#1
haha Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Apr 2003 Location: Seattle Posts: 8,381	My Discount Broker Taking Me and Two Sons To NFL Game Well guys, I think I have finally arrived. My discount broker who never before did anything other than execute my orders invited me and my two sons to a football game. Not only am I way to cheap to do this on my own, I feel thrilled to be treated like a "playa'. Last time I went was 20 years ago when a friend couldn't use his tickets at the last minute. Ha __________________ "Show 'em just enough to win the turkey."- Former KY Governor Bert Combs

10-01-2006, 02:19 PM	#2
Sheryl Thinks s/he gets paid by the post Join Date: Apr 2004 Posts: 1,461	Re: My Discount Broker Taking Me and Two Sons To NFL Game Have fun Ha! You are big-time now. What game are you going to?

10-01-2006, 03:43 PM	#3
samclem Thinks s/he gets paid by the post Join Date: May 2004 Posts: 2,920	Re: My Discount Broker Taking Me and Two Sons To NFL Game HaHa, Have a great time! The best beer is free beer, and that rule probably works the same with NFL games. Vanguard takes my wife and I on a cruise every year. Well, not exactly. But, if I take the differnce in the ER with Vanguard compared to what I'd pay for "regular" managed funds, it works out to several thousand bucks. So, I could buy a cruise with it--if I weren't so cheap. __________________ "Freedom begins when you tell Mrs. Grundy to go fly a kite." - R. Heinlein

10-01-2006, 08:24 PM	#4
Dawg54 Thinks s/he gets paid by the post Join Date: Feb 2005 Location: Mississippi Posts: 3,163	Re: My Discount Broker Taking Me and Two Sons To NFL Game My former discount broker beat that. He took me to a strip club in Atlanta back in the early 90's. He churned my account pretty good so he really entertained me with my own money. Olde Discount, I wonder what ever happened to them? __________________ The born loser.

10-02-2006, 07:06 AM	#5
brewer12345 Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Mar 2003 Posts: 9,222	Re: My Discount Broker Taking Me and Two Sons To NFL Game Ha, which brokerage company is this? I assume that you deal with a dedicated individual there? Schwab occasionally discreetly nudges "my personal advisor" toward me, but I've zero interest, especially as I suspect they would want to be paid for me having to explain things to them. Anyone actually dealt with one of these guys/gals? __________________ “When you realize that you are one of the rare few who observe moral principles in their relationships with others, there is a temptation to sink into amorality, not out of conviction or pleasure but simply to avoid further pain, because there is no greater suffering than being an angel in hell, whereas a devil feels at home wherever he goes.” – Martin Page, How I Became Stupid

10-02-2006, 09:50 AM	#9
Sarah in SC Moderator Join Date: Sep 2005 Location: Charleston, SC Posts: 2,685	Re: My Discount Broker Taking Me and Two Sons To NFL Game Or as I put it to Schwab Institutional when one of our clients (a widow no less) was getting harassed by a retail Schwab guy--"I want that guy panhandling the streets of Sioux Falls by sunset". I'm sure there were a lot of chuckles when the tape of tha call was reviewed. And I might have mentioned beheading and a silver platter or something like that... Sarah __________________ "Never argue with a fool, onlookers may not be able to tell the difference." - Mark Twain DINKS, 37 and 45, plan for his ER at 50, mine few yrs later.

10-02-2006, 01:12 PM	#13
youbet Thinks s/he gets paid by the post Join Date: Mar 2005 Posts: 4,337	Re: My Discount Broker Taking Me and Two Sons To NFL Game Just to show you that no brokerage house is perfect, we've had an unfortunate experience with Vanguard. I was helping DW roll her 403(b) to a rollover IRA and got wrong information from a Vanguard representative over the phone multiple times. Interestingly, when you call to request info about opening a new account, Vanguard assigns a specific person to you and asks you to deal with this person going forward in regard to opening the account. The good news is, now that we have it straightened out, it's been easy to relay the sad situation to management with our recommendation for corrective/disciplinary action. He didn't know the eligible qualifying events to allow a rollover and was insisting we move the 403(b) to Vanguard as a 403(b) and not as a rollover. What a dufus. __________________ Over all was the silence of the wilderness - Sigurd Olsen

10-02-2006, 01:23 PM	#15
youbet Thinks s/he gets paid by the post Join Date: Mar 2005 Posts: 4,337	Re: My Discount Broker Taking Me and Two Sons To NFL Game Yeah! Perhaps a better way to express it would be to say he needed to be disciplined for being ignorant of the procedures yet acting so confident and pushing so hard. __________________ Over all was the silence of the wilderness - Sigurd Olsen

10-02-2006, 01:29 PM	#16
F M All Recycles dryer sheets Join Date: Oct 2005 Posts: 143	Re: My Discount Broker Taking Me and Two Sons To NFL Game Trained - perhaps with a big stick __________________ nil illegitimus carborundum

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