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Subject:  Re: Brokerage Date:  7/24/2000  5:05 PM
Author:  adsach Number:  4586 of 22090

RE: >>>Amex was my number one choice because they will waive all fees if you have 100K or more in your account, but they told me that automatic redemption is on their "wish list", but they're not there yet. <<<

I have been using Automatic (monthly) redemption with American Express Financial Advisors for 2 years, so it can be done - I WOULD NOT RECOMMEND IT. They will only allow me to be 100% in Bond funds. I have lost a lot of money having so much in bonds. I am moving this Substantially Equal Periodic Payment account to Charles Schwab this month and taking responsibilty to maintain a sufficient amount of cash for the automated distribution to process each monthy. Nothing wrong with having a little bit of 'cash' in a government bond fund anyway.

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