Message Font: Serif | Sans-Serif
No. of Recommendations: 1
First, I need to warn you about their special way of treating their clients when one of us decides to leave. I had fractional shares all over the place in two accounts when I switched to Ameritrade and B&H decided to transfer only the whole shares over and SELL all of my fractional shares BEFORE transferring the remaining cash over to my new accounts (which STILL hasn't happened FOUR WEEKS later). I never aksed them to do this nor did I approve it. It has me wondering if I should consult an attorney or the sec or something.

Perhaps you should have spent a few minutes searching that "completely useless web site". Something like the helpdesk, maybe?

Which says, in part:

The process will take about 4-6 weeks. Please note that when transferring out to Another Broker, there is a $50 fee. Please note that fractional shares cannot be transferred and will be sold, commission fees will apply.

and what was the cost? Even if you do it ten times (99 bucks @ 9 dollars per trade at Ameritrade) you have done it cheaper than Buy and Hold would cost in the first year. Are you planning to save ten thousand dollars THIS year? ... so you see the deal Buy and hold is offering you is NO DEAL. Keep your money in your pocket instead of their fee structured coffers.

10 * 9 = 90 not 99. If you only make ten transactions a year, you should choose the basic investing plan @6.99 per month ... $84 per year. B& H is less expensive in this case. For that $84 you could make 2 transactions per month (24 total). That would cost you $216 with the other guy. Again B & H is less expensive.

And their IRA is even MORE expensive! Not only do they want the monthly fee, they charge you 3 dollars for every trade NO MATTER WHAT! Suddenly buying in small amounts has become very expensive indeed!

Err, no. There is no monthly fee for an IRA account. There is a $25 annual fee. As the IRA account value grows, that $2.99 fee per trade becomes very cheap.


BUYandHOLD customer for 7 years and aware of their limitations
Print the post  


Live Video Event Monday!
The GP team is hosting a live video event on Monday at 4 p.m. ET. Don't worry if you can't make it — we'll have a replay and a transcript. Click for more!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.