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I would check the program components verrrrry carefully, regardless of which brokerage or medium you choose.

Case(s) in point;
1. we had a Roth IRA at Scottrade (chosen because of their $7.95/trade fee) only to discover that Scottrade didn't/wouldn't/couldn't do automatic dividend reinvesting. All dividends were taken in cash and added to the cash balance in the Roth at whatever lowball interest rate was in effect at the time.

2. We had traditional IRAs at Buy and Downside with their program was that any trading had to be done at specific times of day: 10 am, 12noon or 3 pm. They do, however, offer automatic dividend reinvesting. Annual fee of $25 per account. Another negative was that they had "bookkeeping issues" with any stock that split, was acquired by another company, etc. in that they would fail to accurately adjust the dollar values for securities. When pressed, we were advised that "that is the investor's job to worry about ... there is no regulation that requires we accurately record this". (huh?) In one IRA we had 3 separate equities that fell into this trap; one was a merger with new stock issued at a percentage of the previous stock - our dollar cost average suddenly became $.13/share on a $20 stock. On another, a simple stock split, they couldn't manage to divide the number of shares by 2 and record the new holding!

Over time, we removed these accounts to another brokerage whose transaction fees are nearly the same as Scottrade's, who accurately records/reports all transactions and does not charge an annual fee and also performs automatical dividend reinvestments. The accounts are all now consolidated at Fidelity Investments ... but I am sure you can find 2 or 3 other on-line brokerages who are up to the task. I just happen to like working with Fidelity.

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