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Author: FridayHarbor Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76621  
Subject: Re: leaving my stock broker Date: 5/23/2000 2:57 AM
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Fees and fees: MLynch has $50, close out fee. The big broker houses have big overhead, so big fees. I`m closing a ML acct. now. It dates back to 1983, and it took some real time to close out a real estate deal.

I cleaned out of ML in 1997, and went to Waterhouse [the account was previously opened in 1994]; also was an IRA and other rollover stuff that went to Janus. I signed their forms and let them do the work. People move back and forth, it is an easy function for them. Your broker will have a `fit` and come up with all kinds of info on you being wrong...ML gets upset when a customer takes HIS money out. THEY LOSE CONTROL OF YOU. That`s a no-no in the business. They say "there`s always more grass [money] to cut. Yours not theirs. Think of yourself first! Good sailing.
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