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Conference nyoss1::market_investing

Title:	Market Investing

Moderator:	2155::michaud

Created:	Thu Jan 23 1992
Last Modified:	Thu Jun 05 1997
Last Successful Update:	Fri Jun 06 1997
Number of topics:	1060
Total number of notes:	10477

955.0. "Broker relationships" by ASABET::SOTTILE (Get on Your Bikes and Ride) Tue Jan 02 1996 12:06

    
    What kind of relationship do you have with your full service broker.
    I give my broker quite a bit of freedom with my acct for selling. He
    cannot buy anything without my approval however. I'm woundering if I
    could be setting myself up for some form of disaster though. 
    Am I the only one here using a full service broker??? 
    
    steve

T.R	Title	User	Personal Name	Date	Lines
955.1	My 2 cents.	TALLIS::KOCH	Kevin Koch TAY1-2 DTN227-4043	`Tue Jan 02 1996 13:57`	18
	>What ... relationship do you have with your full service broker. I give >my broker quite a bit of freedom with my acct for selling. He cannot buy >anything without my approval ... I have two full service brokers (and I make sure each knows this) and would never consider letting either one do anything without my authorization. The only time a broker did something without consulting me was the Thursday before the crash, when he saved my ass by closing out a big position. During the crash, discount brokers were unreachable because their 800 lines were swamped. The only brokers you could contact were full service houses. I would never use a discount broker. The discounts the full service firms give are good enough and the level of service is much higher.
955.2		ZENDIA::FERGUSON	Control for smilers cant be bought	`Wed Jan 03 1996 13:15`	3
	Kevin, i'm curious, what kind of fee structure do you have w/ your disc. brokers? ie: how much to sell. how much for his advice (if any), etc. interested in a comparision betw. my disc., broker costs.