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Well its been about 6 months since my Scottrade account was transferred to TDA. Today I received my first call from TDA wanting to get to know me and my account better.
I still haven't decided whether I want to stay with TDA.
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On my first call, the representative was trying to get me to use their fee-based advice service.
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I've had two calls from TDA, both on my answer machine. I suspected they wanted to sell me something, so never returned the call. I'm thinking of finding another broker, maybe Schwab. I make a few trades per month, so it's not a critical move.
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Schwab is good but if you want to trade penny stocks you have to wait till the funds clear before you could trade.

Bonds you can find "C" rated bonds but you can can buy and sell your self without broker assist fees.

I don't trade options so I can not rate them.

Margin they have it but I don't use margin.

Minimum to open account $1000.

Things I hate about Fidelty.

1)Junk letters on odd lots from companys wanting to buy your shares. Example I receive 4 times a letter from Fidelty about Regions Financial wanting me to sell my shares or bring it up to 100 shares. I do not receive this garbage from Schwab.
2) Excessive SEC fee to sell
3) Excessive making you change your password to log in.
4) Lower price on bond value at Fidelty. The same bond is higher value at Schwab.
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Junk letters on odd lots from companys wanting to buy your shares. Example I receive 4 times a letter from Fidelty about Regions Financial wanting me to sell my shares or bring it up to 100 shares. I do not receive this garbage from Schwab.

I once received a letter like this for shares I held in an account at Vanguard. (Can't remember what security it was regarding.) Anyway, those aren't originated by the broker, they come from the issue itself. I presume you'd still receive a request to buy your odd lot from Regions Financial whether you held the shares in Fidelity or Schawb or TDA.
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>> Junk letters on odd lots from companys wanting to buy your shares. Example I receive 4 times a letter from Fidelty about Regions Financial wanting me to sell my shares or bring it up to 100 shares. I do not receive this garbage from Schwab.

> I once received a letter like this for shares I held in an account at Vanguard. (Can't remember what security it was regarding.) Anyway, those aren't originated by the broker, they come from the issue itself. I presume you'd still receive a request to buy your odd lot from Regions Financial whether you held the shares in Fidelity or Schawb or TDA.

With Fidelity, you hold the shares. As in Fidelity buys the shares on your behalf, and then puts them in your name.
With Schwab, Schwab holds the shares, and tells you 'these shares over here are yours'. As in they buy the shares, and then they make an accounting note that those shares are yours. The company issuing the shares sees Schwab as the owner.

That is why no one is bugging you about odd lots. They see Schwab as the owner.

Most large and discount brokers do this. Unless you own lots of shares, or pay extra to have the shares put in your name. Some brokers allow this, others dont even have it as an option.
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