Morgan Stanley Brokerage cost - Poll

[Lakewood90712]

Close Relative with a 30+ year account sold 12,000 shares of GE. Guess what the Uhm, " Preferred Rate " commission ? I will post the actual commission and fees in 48 hours

 

[Sunset]

$0.00

 

[Blueskies123]

Morgan Stanly? I will say $450. Those people have very high salaries.

 

[CaliKid]

It's all about how the account is set up (as many pay "zero" for their trades but they pay an AUM) but I believe the normal "preferred rate" (which I think is what everybody gets) in an old fashioned brokerage account will be about $1,000.

 

[NW-Bound]

Close Relative with a 30+ year account sold 12,000 shares of GE. Guess what the Uhm, " Preferred Rate " commission ? I will post the actual commission and fees in 48 hours

Never mind the commission. I am preoccupied with the fact that 12,000 shares of GE only fetch $108K. Three years ago, it would have been $360K.

 

[Lakewood90712]

Never mind the commission. I am preoccupied with the fact that 12,000 shares of GE only fetch $108K. Three years ago, it would have been $360K.

Some of these shares were in the family 80+ years. This lot was an inheritance from 1994 with a basis about $7. ( the last split was in 1993. Look at the chart, as been as high as $60 , sure kicked off a lot of dividends, but as we see now see , the income was going to hollow out the company value. Jack , Jeff, and the brain dead board in action.

M.S. finally has an analist on GE. Target price $10. Acording to the M.S. broker, they did not follow for retail clients because they did investment bank services for GE so allegence was to GE.

GE is a wounded duck. Nothing that good on the horizon for GE, and things could get worse.

 

[GrayHare]

OK, Bob Barker, I'll go with $600

 

[AbbA]

I will post the actual commission and fees in 48 hours

Are you collecting bids for 48 hours?

I'll go with the highest $900+ as in 'broker, where's my yacht?'

I still cannot wrap my mind around one short conversation my colleague and I had years ago when she bragged to me about the beautiful/wonderful X'mas party she and her husband were invited to. I asked "where and why"? It was held by the company (Salomon Barney) where they keep their investments. I said "you know you paid them a lot". She said "Oh now, it was FREE!" I tried to tell her that their FA is paid big bucks and the party is part of the whole deal. She looked offended that I could raise such a possibility. I dropped the topic immediately.

 

[Pete10k]

In the late ‘90’s, Merrill charged my relative $800 each way for a trade they recommended to get him out of MRK and into F (terrible advice but the broker did have a mortgage to pay after all). Like they can see the frikkin future. Not. It was a blessing in disguise. He sat tight through the Dot Bomb and the Great Recession unlike many others who sold. He never made another trade because he didn’t want to ever get screwed like that again. He had a solid portfolio of dividend paying stocks. When he passed, God bless his soul, he left well over $10 Mil.

 

[Lakewood90712]

In defense of Morgan Stanley , they do send the client a birthday card each year . ( not kidding ).

 

[CaliKid]

Also, bear in mind the brokers make close to nothing on these little trades. They get like 20% of the money. It's not their bread and butter.

 

[Lakewood90712]

Also, bear in mind the brokers make close to nothing on these little trades. They get like 20% of the money. It's not their bread and butter.

Quite true , like M.S. telling a widow who turns 70 1/2 , she needs to dump that SEP IRA , and put it in a variable annuity with a giant commision, and endless fees.

 

[Lakewood90712]

And here it is $ 2029 + misc fees.

 

[dtbach]

And there was so much work that the broker had to do. Reminds me of when my Dad had an account with Edward Jones and the guy charged $137 to buy 300 shares of a $30 company.

 

[audreyh1]

Ouch!