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I have an employer funded SEP IRA that is managed by a broker (Class B mutual funds). Our company meets as a group with the broker when the distributions are made. The distribution checks are signed over and the investment decisions are made at that meeting.

The broker receives a percentage on the account that decreases over time. I think I have to ante up if I close the account before a specified time elapses. If I want to purchase (new) stocks, I have to buy a minimum of 25 shares and pay the broker a fee.

I'd like to open a self-directed discount account for stock investments. How do I get my hands on this years' distribution without the broker getting his paws on any of it?

As an aside, I told the broker two years ago that I wanted to buy Cisco, Intel and Microsoft. He talked me out of it, saying that the mutual funds would be a better way for me to go.


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