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Author: twcunningham One star, 50 posts CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 4956  
Subject: Does anyone else still use B&H.com? Date: 10/25/2007 2:05 PM
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I've had an account with them since 1999, and I'm frustrated. I'm a sporadic investor, and there have been months and months that have gone by where I haven't bought anything. Before the monthly fee this was okay, but when I look at the number of purchases I made last year (2) and what I paid in fees ($84), $41 a trade doesn't seem like the most cost effective way of investing.

There's numerous other things that irk me about them - the basis shown on my account summary never seems to be right - if I calculate by hand and average in all of the DRIP buys, I can never get their basis or average cost to match the math I've done by hand. And if a stock changes symbols they just give up - my basis for RKY (Coors) which turned into TAP (Molson/Coors) shows as $0.00 and they refuse to correct it.

What have other people switched to? There must be something out there which matches the original spirit of B&H.com without all of the associated problems.
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Author: wwongma One star, 50 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4947 of 4956
Subject: Re: Does anyone else still use B&H.com? Date: 10/25/2007 9:58 PM
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Hi, I am still using them for several years and have not had any issues. I have their monthly plan and make purchases for several stocks. The price works for me. As for the basis, it has been correct for me. If there was a problem, I would send them an email and they would correct it for me. Example would be when I transferred a DRIP to them. The cost basis was incorrect as expected since they did not know what it was and I just sent them an email with what it should be and they fixed it.

If you are not using it, then I would suggest you transfer to another brokerage that suits you, perhaps Sharebuilder but check the FAQ for the cost of closing the account.

Best of luck

WW

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Author: navy58 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4948 of 4956
Subject: Re: Does anyone else still use B&H.com? Date: 10/26/2007 12:59 PM
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I still use it...have since late 2000/early 2001? Never had a serious problem, haven't looked too closely at cost basis as I haven't had to sell anything yet. One stock though just doesn't look right - my net gain is waaaay to high from what I recall, although maybe I missed a big climb on a deployment somewhere. But for what I do with stocks, it's good enough and the price is right.

Cheers.

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Author: Junior94 One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4949 of 4956
Subject: Re: Does anyone else still use B&H.com? Date: 10/28/2007 1:03 PM
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I just left them, after 7 years, due to the fee and not having a way (that I could find) to reconcile transactions with MS Money. The monthly fee added up over the year and I haven't traded all that much. Plus, the automatic dividend reinvestment "feature" was nice when I was first starting out, but it is a PAIN to reconcile and deal with so many minor transactions.

I moved to zecco.com . They offer 10 free trades per month, no monthly fee for regular brockerage accts. Forget what they charge for IRAs, but similar to B&H. Their online tools and ability to communicate with Money software is smooth and excellent. Took a little over 2 weeks to have B&H close and transfer all stock over to Zecco.

Zecco doesn't do auto divident reinvestment, it just puts it into your cash account. They also don't buy fractional shares. I just accumulate any dividends and then use that cash to invest into whatever specific stock I choose. This is much more streamlined and effective, to me at least.

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