I feel good...da da da da da da da

[freebird5825]

i had a call from TDAmeritrade the other day. i have an account with them and never do trades and very rarely do MF exchanges. i parked my MFs there a few years back and do nothing with them. my cost is nothing. but they have great consolidated year end statements, which rule when i do my taxes.
the message was dripping sweet. "this is *****, and as one of our Apex clients, i am calling to see if you have any questions yadda yadda yadda". so i got out my horns and called him back. i played dumb for about 5 minutes...chat chat chat.
then he started the sales pitch about their FA services. he was also trying to sell me ETFs. i said i might look at ETFs next year.
i listened, grinning, waiting to hone in for the kill. just when he thought he had me all greased up, i started talking the best financial lingo i could remember. i can't hold a candle to a lot of you, but i am blessed with a near photographic memory and i quoted a lot of Bogle at him. i.e. buy and hold, lower costs, age=bonds in AA, tax efficiency, DIY, stay the course, no panicking, etc etc.
then i told him i was seriously thinking about transferring my MF collection over to VG financial services because i was tired of paying TDA $49 per MF exchange. i've paid that twice in 5 years, exchanging high exp ratio funds to lower ones in a scheduled cost trimming exercise.
he actually reduced my future MF exchange fee to $17. i have an email to prove it.
i'm gonna burn.

 

[Notmuchlonger]

I think Ill do another shot of tequila. I got lost at the part when he had you all greased up.

 

[freebird5825]

I think Ill do another shot of tequila. I got lost at the part when he had you all greased up.

I was ON THE PHONE!

 

[Notmuchlonger]

I was ON THE PHONE!

Sure make me shoot tequila out my nose.

 

[freebird5825]

Sure make me shoot tequila out my nose.

my poor phone will never be the same again....

 

[Notmuchlonger]

my poor phone will never be the same again....

Neither will mine

 

[freebird5825]

Neither will mine

did TDA call you too?

 

[JPatrick]

i listened, grinning, waiting to hone in for the kill. just when he thought he had me all greased up,.

I've seen it all before...It starts simple enough, a little grinning, some moderate greasing..then things begin to get out of hand

 

[bbbamI]

Oh fine...now I have James Brown dancing around in my brain....O0

 

[freebird5825]

Oh fine...now I have James Brown dancing around in my brain....O0

i saw him at Woodstock 99. he was still funky!

 

[freebird5825]

I've seen it all before...It starts simple enough, a little grinning, some moderate greasing..then things begin to get out of hand

have we met?
i would have remembered that. i think.

 

[Steve O]

LOL

 

[FinanceDude]

i had a call from TDAmeritrade the other day. i have an account with them and never do trades and very rarely do MF exchanges. i parked my MFs there a few years back and do nothing with them. my cost is nothing. but they have great consolidated year end statements, which rule when i do my taxes.
the message was dripping sweet. "this is *****, and as one of our Apex clients, i am calling to see if you have any questions yadda yadda yadda". so i got out my horns and called him back. i played dumb for about 5 minutes...chat chat chat.
then he started the sales pitch about their FA services. he was also trying to sell me ETFs. i said i might look at ETFs next year.
i listened, grinning, waiting to hone in for the kill. just when he thought he had me all greased up, i started talking the best financial lingo i could remember. i can't hold a candle to a lot of you, but i am blessed with a near photographic memory and i quoted a lot of Bogle at him. i.e. buy and hold, lower costs, age=bonds in AA, tax efficiency, DIY, stay the course, no panicking, etc etc.
then i told him i was seriously thinking about transferring my MF collection over to VG financial services because i was tired of paying TDA $49 per MF exchange. i've paid that twice in 5 years, exchanging high exp ratio funds to lower ones in a scheduled cost trimming exercise.
he actually reduced my future MF exchange fee to $17. i have an email to prove it.
i'm gonna burn.

Charging for a MF exchange? That's pretty crazy...I guess buying MF for no-loads really has a load........

Next time he calls, ask him what the standard deviation and beta are of your blended portfolio. Tell you want to know the alpha of the portfolio, and where it sits on the Efficient Frontier. You could always throw in a comment about Elliott Wave Theory......

 

[freebird5825]

Charging for a MF exchange? That's pretty crazy...I guess buying MF for no-loads really has a load........
Next time he calls, ask him what the standard deviation and beta are of your blended portfolio. Tell you want to know the alpha of the portfolio, and where it sits on the Efficient Frontier. You could always throw in a comment about Elliott Wave Theory......

oh, yeah, that sounds like fun. i'll do a refesher before i talk to him again, next quarter.
local FA got me into TDA when i contracted with him to deal with a
mountain of paperwork several years ago. dealing with JTWROS and account registration changes was too grueling. i still have a negative emotional reaction to MF transfer paperwork. i'll get over it.
i only own VG, Dodge and Cox, and American Funds now. i confess that i was a MF junkie as a beginner. you don't want to know how many i owned.
i'm almost ready to transfer my entire portfolio over to VG.
a blizzard day project if i ever heard one.
but they probably charge fees to include non VG funds in a portfolio, right? i don't have enough to qualify for Admiral shares yet, especially now.

 

[Jeb-NY]

I have gotten two calls from TD this year. Both trying to sell me their ETF. The first person noticed I already had some ETF and thought I should sell them and buy theirs. Also noted the large amount of money I had in their MM and didn't I think I should get that money working for me. I told him that was living expenses for the rest of the year and didn't think I wanted to invest my living expenses money in the market. I pointed out I was actually thinking about selling one of my MF so I would have next year funded. He did some hand waving and thanked me. I got off the phone and sold (thanks for the reminder TD saved me several months of living expenses by selling early in the year).

About a month ago I got a call from a new person at TD, just to introduce herself as my new account person and to see if I had considered their ETFs. Told her I was still not interested and did the same thing as you suggesting I might move out of the MF I was paying to much for and move them to VG. She told me she could sell me VG funds. I thanked her for the call and moved on.

Jeb

 

[FinanceDude]

About a month ago I got a call from a new person at TD, just to introduce herself as my new account person and to see if I had considered their ETFs. Told her I was still not interested and did the same thing as you suggesting I might move out of the MF I was paying to much for and move them to VG. She told me she could sell me VG funds. I thanked her for the call and moved on.Jeb

Hmmm....new rep at TD, who would have thunk it, they go through folks like I go through gasoline.

BTW, just about anyone could sell you VG funds........for a price........

 

[freebird5825]

i sent him a link for the current state of ETFs
http://www.marketwatch.com/news/story/new-etfs-fail-gain-footing/story.aspx?guid=%7B385BB887%2D053A%2D4671%2DA14D%2D8A8094FF191D%7D

i will correspond with him until the hard sell starts. I put it in writing that i am declining financial services from TDA, so i covered myself.
hey, maybe i can convert a new Bogle-ite.

 

[thefed]

Oh fine...now I have James Brown dancing around in my brain....O0

SO GOOOD! (da da) SO GOOOOD! (Da da)



Did anyone else count the "da da da"'s in the title to confirm what they suspected to be a james brown song? I wasnt even thinking james brown til i counted em

 

[FinanceDude]

i sent him a link for the current state of ETFs
http://www.marketwatch.com/news/story/new-etfs-fail-gain-footing/story.aspx?guid=%7B385BB887%2D053A%2D4671%2DA14D%2D8A8094FF191D%7D

i will correspond with him until the hard sell starts. I put it in writing that i am declining financial services from TDA, so i covered myself.
hey, maybe i can convert a new Bogle-ite.

I wonder if the MF industry has seen $100 billion NET inflows? Expect an e-mail returning slamming MF........

I'm still trying to get my head around PAYING more MF exchanges.......

 

[freebird5825]

I wonder if the MF industry has seen $100 billion NET inflows? Expect an e-mail returning slamming MF........

I'm still trying to get my head around PAYING more MF exchanges.......

i enjoy the game. who knows? i just might make an impression on the guy that you can't cold call a woman and make an ETF sale today. i shall serve as a small drop in an increasingly filling bucket. who knows, the guy may have looked at my beneficiary designation, put 2 and 2 together and salivated all over the phone. follow me?

MF exchanges...so am I. it is not normally an issue because this set of MFs is my largest and "long term, don't touch" bucket. i have my short term (5 yrs or less) MFs directly with VG. i rarely do exchanges of ANY of my MFs. i did a JAOSX to VEURX in November to capture a tax loss harvest and get the lower exp ratio, long term. JAOSX was on my chopping block for a year, i just needed the right circumstances to move on that.

 

[FinanceDude]

i enjoy the game. who knows? i just might make an impression on the guy that you can't cold call a woman and make an ETF sale today. i shall serve as a small drop in an increasingly filling bucket. who knows, the guy may have looked at my beneficiary designation, put 2 and 2 together and salivated all over the phone. follow me?

MF exchanges...so am I. it is not normally an issue because this set of MFs is my largest and "long term, don't touch" bucket. i have my short term (5 yrs or less) MFs directly with VG. i rarely do exchanges of ANY of my MFs. i did a JAOSX to VEURX in November to capture a tax loss harvest and get the lower exp ratio, long term. JAOSX was on my chopping block for a year, i just needed the right circumstances to move on that.

I gotcha. You said you owned a couple load funds in there. Just so you know, the TD dude is getting 12B-1s on those, and then charging you to exchange. I think you should ask him what the 12B-1 fees are on the funds you own, and THEN ask why they charge you to exchange........

 

[freebird5825]

I gotcha. You said you owned a couple load funds in there. Just so you know, the TD dude is getting 12B-1s on those, and then charging you to exchange. I think you should ask him what the 12B-1 fees are on the funds you own, and THEN ask why they charge you to exchange........

12b-1 fees...yeah, i know what they are. a good idea for my next email exchange with TDA. he knows i'm a FIREd engineer.
almost right on load funds and TDA...i own 2 American funds AWSHX and ANWPX, but directly with American. they are the very first funds i got into back in 97. once i figured it all out, i fired my local FA. i have no sales rep designation on my account anymore. i instructed American to remove it. and yes, folks, you can do that.
AWSHX and ANWPX may be next on the chopping block due to exp ratio level, maybe next year. all in good time. i move slowly and carefully in this realm. i am slowly regrouping financially after a whirlwind in life.
and you folks are collectively making me a lot smarter to do just that.
if i don't say TY enough, TYTYTYTYTYTY