CoolChange
Full time employment: Posting here.
- Joined
- Apr 11, 2006
- Messages
- 969
For those of you who are asset allocators primarily using ETF's but not with WellsTrade (with their 100 free trades per yer), why aren't you using WellsTrade?
For those of you using WellsTrade, I would appreciate any feedback, insight, etc. (whether positive or negative) that you can provide.
The reason I ask: I currently have accounts (both tax deferred and taxable) at more of the other major discount brokers than I would like to admit; and, I am planning to start consolidating this year to simplify my life a bit. WellsTrade seems like the obvious choice for me; but, I have no personal experience with them. So, I am soliciting your advice.
My current plan, unless those of you with more experience/expertice persuade me otherwise, is to transfer as many of my taxable holdings as possible in-kind to WellsTrade where I can sell the individual stocks, actively managed funds, etc. that no longer fit my investing philosophy without paying a commission or continue to hold the securities that do still fit without tax consequences. I do have plenty of capital losses to offset any gains incurred with funds which WellsTrade does not accept. I am not as concerned about like-kind transfers from/to taxdefered accounts since most of these are old 401(k) accounts without transaction fees but, which I need to be out of because of the limitted choices, high fees, etc.
I do realize the subject of best discount broker has been covered here before; but, I hope you will allow me to ask this specific question without taking too much offense or giving me too much grief.
Thank you very much.
For those of you using WellsTrade, I would appreciate any feedback, insight, etc. (whether positive or negative) that you can provide.
The reason I ask: I currently have accounts (both tax deferred and taxable) at more of the other major discount brokers than I would like to admit; and, I am planning to start consolidating this year to simplify my life a bit. WellsTrade seems like the obvious choice for me; but, I have no personal experience with them. So, I am soliciting your advice.
My current plan, unless those of you with more experience/expertice persuade me otherwise, is to transfer as many of my taxable holdings as possible in-kind to WellsTrade where I can sell the individual stocks, actively managed funds, etc. that no longer fit my investing philosophy without paying a commission or continue to hold the securities that do still fit without tax consequences. I do have plenty of capital losses to offset any gains incurred with funds which WellsTrade does not accept. I am not as concerned about like-kind transfers from/to taxdefered accounts since most of these are old 401(k) accounts without transaction fees but, which I need to be out of because of the limitted choices, high fees, etc.
I do realize the subject of best discount broker has been covered here before; but, I hope you will allow me to ask this specific question without taking too much offense or giving me too much grief.
Thank you very much.