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Financial Products & Services / BuyandHold.com
|Subject: Re: A Disgruntled (now former) Customer||Date: 7/29/2005 5:39 PM|
|Author: mac750||Number: 4935 of 4956|
I have waffled back and forth with B&H. I have many gripes, but also as many positive things to say.
They specifically point out in every case that you are investing a Set dollar amount rather than investing in a number of shares. Look at the Features & Benefits page http://www.buyandhold.com/bh/en/strategy/featuresandbenefits.html under Dollar Based Investing.
All your investments are based on dollar amounts - not shares. That means you control the amount spent on each purchase, even when the stock price fluctuates. Your entire investment (minus the trade cost) goes towards the purchase of stock because we can buy fractions of shares, not just whole shares.
Sharebuilder does the exact same thing. This is a huge benefit in my opinion (Ameritrade will only reinvest if they can buy a full share).
I agree that their statements are archaic, the way the receive a dividend and reinvest is a bit odd, any corporate action (eg. splits, meregers, etc.) on a stock does take many days and weeks (Ameritrade does them immediately) and that customer service is just ok. They could also be more proactive in adding stocks as I follow the AAII method and they tend to smaller cap. I have had a number added that I requested, but it does take time.
In the end, they provide the best resource for the cost if you just keep it basic.
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