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Author: TMFKaren Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 303  
Subject: Re: Choosing a Brokerage for a Coverdell ESA Date: 12/13/2003 8:06 AM
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I have posted this on the HG Philosophy Board and the Paying For College board. Are those the best places to post it? Any other thoughts? Is this the purpose of this 411 board - am I using it correctly?? Thanks - Teal


I am looking for thoughts on the best brokerage to go with for a Coverdell ESA (used to be called the Roth Education IRA).

I use Quick & Reilly - they are great, but it's $23.95/trade.
Ameritrade does not yet offer the Coverdell ESA.
ETrade offers the Coverdell ESA's with $19.99 Limit Orders.

The best one I am seeing is Scottrade - does anyone use Scottrade? They look great. They do have the Coverdell ESA, Mkt Orders are $7 and Limit Orders are $12. They have No Fee's for IRAs & Coverdell ESA's - NO annual, maintenance OR setup fees, No Inactivity Fees or termination fees!

They look the best for the Coverdell ESA that I have seen so far. Please let me know if you have any experience with them.

One thing I don't understand that I have heard is with some brokers you can not buy some stocks - it seems to happen with a lot of the HG stocks, since they are usually lesser known. Does each brokerage house only sell certain stocks? You can't buy them all from any given broker? If anyone has any clue on how Scottrade is in this regard, please let me know.


Hi Teal,

Actually this board is for folks who want to understand the new directory structure of our discussion boards, but I expect general questions will be posted here.

To answer your question, I think you posted in the right places to get feedback. Another good place for information is the Brokerage Center, located at:

http://www.fool.com/dbc/dbc.htm

We also have the Discount Brokerage board for questions:

http://boards.fool.com/Messages.asp?bid=100146

Good luck, and have a Foolishly Happy Holiday.

Karen Kosoy
TMF Karen
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