My Discount Broker Taking Me and Two Sons To NFL Game

[haha]

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]

Have fun Ha! You are big-time now.

What game are you going to?

 

[samclem]

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.

 

[Dawg52]

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]

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]

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]

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]

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]

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]

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]

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]

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....................

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

 

[youbet]

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]

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]

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]

Trained - perhaps with a big stick