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Author: Linne Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75401  
Subject: Re: DRIP/IRA Date: 2/22/1998 2:04 AM
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<<<How difficult is it to find a custodian to handle <<DRIP plans for an IRA? Are there any online
brokerages that will do this, if the first shares are purchased through them?>>

These will not be DRIP plans per se. Instead, the brokerage will reinvest dividends and capital
gains by transferring at current market value shares in the same stock the brokerage holds in its own
inventory. Fees may be involved, and the only one I know for sure that does this is USAA
Brokerage Services. >

When I had an account at the shallow-discount broker, Fidelity, they did this for free, too (if you do
not consider their relatively high commissions as an unnecessary cost).>>

FWIW, I recently made some trades at Fidelity and was pleasantly surprised to find that they've reduced the commission for web trades to $19.95, flat fee for any amount up to 1000 shares. It's less if you're a frequent trader, which I am not. (I know, I know, the deep-discounts are cheaper, but we all choose what lets us sleep well.)
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