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Can I expect a yearly or quarterly report of all holdings from a discount broker?

Yes, I get monthly statements (or maybe quarterly when the account is totally inactive) at no charge from Charles Schwab. Schwab also provides me with on-line access, so I can check the accounts any time from home. Schwab even keeps my Vanguard Index Fund for me in both my taxable and tax-deferred accounts, although I bought it directly from Vanguard and had Vanguard transfer it to Schwab at no cost to me. Schwab also reinvests my dividends for me on Bergstrom Capital (BEM on AMEX) without charge. I have heard that Schwab service isn't so hot for small accounts -- don't know that from personal experience.

Chips, a happy Schwab client for seven years, paying no fees to Schwab and getting free book-keeping services, although rarely buying or selling anything
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