UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: Keith15 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 4956  
Subject: BuyandHold New Fees Date: 5/28/2001 10:26 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 17
Some Thoughts:

1. I would have rather seen BuyandHold do more to cut cost then raise fees. Moving out of New York City, cutting back to one trade window, or reducing the number of stocks they offer. Instead B&H will increase fees and services. I think B&H is being unrealistic.

2. I find B&H marketing very disappointing. Claiming that there is no inactivty fee (From my BuyandHold letter: We have also eliminated the inactivity fee from this plan. This change applies to each of your Pay Per Trade accounts) to be deceptive. Also, they encouraged (sometime with the Transfer Agents help) movin DRIPs into a B&H account. Often this wasn't in the best interest of their customer.

3. I'm having a really tough time understanding where B&H is going? At first they marketed to small investor ("invest for as little as $20", or teach your kids about investing with a custodian account.) Now they seem to be targeting the "active" investor/trader. I really question why a "active" investor/trader would waste their time and money on service that doesn't offer real-time trades.

4. The Good news is that the changes to the IRA's are mild. Would be pretty hard to charge an inactivity fee. Already my contribution for 2001, and I'm fully invested.

5. The new fees are complicated (I've noticed several postings that showed some confusion) and I'm sure there are customers out there who be really surprised when $7 gets debited from their account. Which suggest to me June first won't be the end of complaints and account clousres.

In the end I closed by regular account. I was just using it to stockpile my IRA contribution for 2002. I'm leaving my IRA alone for now.

I'm still very concerned about the business model, and I'm still upset about their claim of "eliminated the inactivity fee"

They should have cut services, not raise fees.

Keith
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement