Scottrade Exploring Sale Worrying about a brokerage firm going belly up, especially one like Schwab, is not really warranted, Vintage. Your holdings are protected under SIPC, even cash up to a very high amount. The issue I have with the smaller firms (like Scottrade) is they are likely takeover targets, as we are now seeing. They may or may not provide great service to clients, but we should be mindful of the financial disadvantage under which they operate. Each company has some things we might really like and use a lot, but that can change pretty quickly. If, as many expect, a lot of active funds will be biting the dust in the next few years because of performance, lack of dollars, M&A, legal problems, etc., it might be prudent to look at what index funds and ETFs are available at the bigger custodians, not to mention expenses for each, trading costs, trading restrictions, and overall account expenses/fees, and technology available to customers. I am not saying your fears are unjustified. I am suggesting that all investors should understand the ever-smaller margins firms have to deal with and the probable decisions that result from that, especially the smaller custodians that each of us might like. Another factor in all this are the ever-expanding federal regulations forced upon all in the securities industry. Dodd-Frank was a killer, and the newer regs just get more and more numerous, no matter how redundant, unnecessary, and strange many of them are. They all cost firms mega dollars to enact, monitor, and report, not to mention the hundreds of hours and larger and larger compliance staff needed to oversee. Companies have to offset these ever-growing expenses somehow, whether it is higher fees to customers/clients or even deciding a merger/acquisition is a better option.
We deal with client account transfers on a daily basis, and it is still surprising the road blocks different custodians throw at account owners. Fees here, fees there. Fidelity's comment about not waiving a fee is baloney. This is just not true. But think what it means to Fidelity, a $50 fee times many thousands of accounts is a nice chunk of change, and that is just the tip of the iceberg for them.
Scottrade Exploring Sale well, fidelity said no, it's against federal regs to give bonuses after the move is complete.
here's the note i got from f:
Thank you for following up with us regarding our promotional offers. I am happy to further assist you with this information!
I have reviewed your request, and I am happy to address your concerns regarding these promotions. FINRA requires that in order for an award to be considered a promotion, the award must be the reason you are transferring the account. You stated that you were not aware of the promotional offer until after you had transferred your assets, so we are unable to consider these assets towards our promotional offers. The only time we are able to retroactively award a promotional offer to an account is when we have documentation that you have spoken with a representative about the promotion prior to transferring the assets to Fidelity.
I decided against moving to Fidelity. Scottrade gave me a competing dollar offer to keep my money there. Not quite as much as Fidelity but I wasn't that enthusiastic anyway about leaving Scottrade which has been good to me over the
years. That would seem to conflict with the above from Fidelity. You would think if Scottrade could simply credit my account for keeping my money there Fidelity could have found a way to work around their so called FINRA issue.
Consuleo Mack's WealthTrack Preview: Guest: Bruce Berkowitz, Manager, Fairholme fund My position in FAIRX has gradually reduced since I don't automatically re-invest distributions. I had said many times his performance started to suck since he started appearing regularly on TV. He is doing it again.
I've held on to my shares but I haven't added to FAIRX in years. EOY will make decision whether to sell or add.
Berky baby, keep quiet and focus on investing. You are supposed to get older and wiser, not vain-er. I sometimes wonder if fund managers get mid life crisis. Remember Bill Miller buying $70 MM yacht. Would sure love to know what BB bought. If I learn he bought a Maserati or something, I'm out.
City National Rochdale EM Webinar Oct. 4 @1 ET @MikeRIMIX is a concentrated mid cap Asian EM fund whose objective is capital appreciation. It has a market cap of 3.2B invested in only six countries. Accordingly, its benchmark is the MSCI EM Asian Index.
On the other hand, MAPIX is a large cap growth and income fund seeking total return. It has a market cap of 32B invested in 12 Asian countries. Its benchmark is the MSCi AC (All Country) Asia Pacific Index. While it is an Asian EM product like RIMIX, it is not a broadly diversified EM fund either, only a more diversified Asian one. RIMIX has no geographical allocations outside of Asia, MAPIX only piecemeal ones.
The 30% allocation to Japan in MAPIX suits its objective of investing in both developed and emerging economies in an effort to capture that country's returns. RIMIX does not invest in Japan because it is a developed economy, not emerging, and lacks the macro characteristics the manager is seeking. MAPIX also invests in Taiwan and S. Korea, both of which MSCI identifies as emerging, but some argue -- including some at Matthews -- that if one examines their economies that they too are developed. (FTSE upgraded S. Korea to developed several
years ago.) RIMIX does not invest in either country because the manager also sees them as developed but more specifically as lacking investable attributes, thereby showing a distinct investment bias right or wrong.
As for someone not needing more than one EM fund, I suppose that appears to make sense prima facie; however, I'm skeptical and feel that investors can profit from the differences in EM funds because of how they vary in objective, market cap, geographical allocation, and so on. Each of us has to decide.
You can see what performance differences exist by entering RIMIX in the quote box at M* and then MAPIX in the chart box that will show how the funds compare since the inception of
RIMIX. Comparing the two funds Total Trailing Return under the Performance Tab gives a slightly different look. But perhaps you already know this and have reached your own conclusion. I'm not arguing for one vs. the other, in being wrong or right, but only in citing the data.
I am interested in the webinar because the manager's other calls have been informative. Perhaps others will find it useful too in evaluating how they invest in EM.
Where our EM returns come from is an individual preference, but it's worth pointing out the specific differences in how those returns are produced and then choose accordingly.
David Snowball's October Commentary Is Now Available Every step of the way, people haven't like the change. But 5 years down the road (or whatever it has been since FundAlarm) this site has only become better and more professional because of changes, much more content and easier to navigate. David, Chip and every commentary and software contributor, many many thanks... I love the new commentary format.
Scottrade Exploring Sale Howdy
@linterI do believe Fidelity will satisfy your request.
Side note: We've had accounts with Fidelity since the late 1970's. Several
years ago we decided to take a decent profit in one sector and move monies into another sector. Twas' a busy day and I pulled a large sum of monies from the wrong fund (I'll name this "ticker brain fart"). The "wrong" fund from which the money was pulled had recently received money. This fund also had (if I recall properly) a 90 day short term trading fee attached at 3/4%. Several days later when I was reviewing our holdings I discovered the error and the .75% fee charged to the IRA account involved. I penned a short, gracious and courteous internal email to Fidelity about "my" error. Within the next business day they reversed the transaction and refunded the fee. I thanked them for their understanding in the matter and expressed that I would continue to recommend their organization to others regarding investments.
Regards,
Catch
M*: Liquidity Risk Increases At Fairholme
David Snowball's October Commentary Is Now Available
How To Invest In A Bond Market Gone Crazy: Tom Atteberry, Manager, FPA New Income Fund Video & Text "This transcript has been automatically generated
by Sarah Palin and may not be 100% accurate."
I ... we might ... is that we ... were talking about ... the zero negative this negative interest rate policies of Europe and Japan ... forcing that ... capital is here to look for yield somewhere else which means it comes to the US ... driving our rates down to ... the demand goes up ... and appear time when our conomy is really growing better than those in the lead is this to justify the low right ... now also causes a problem for the ... Reserve Bank is it thinks about raising short-term interest rates ... it's looking to hire a short-term interest rates but long-term interest rates of decline with the two of the same ... I have the more I The typical promise once you ... grow ... Swiss constraining what the Fed can do it ... so thinking about a flat yield curve or what its implication is that he is okay if you think of a banking takes EMCD money an entrance ... lens that money up to individuals and businesses ... if the CD rate rises towards very close to the rate that they begin to lead the money out ... they no longer make a profit doing that ... the declining about lending to do so what does it say constrained lending which is what you need to get an economy to grow faster ... discussing ... current unwinding its less profitable for ... the dude lets up ... we don't have a crystal ball to the ending we just look at the imbalances and along the spine economy slows down to justify the longer term rates a half because money is coming from overseas ... I really start to run the risk of things overheating inflation being Iran to reprice thoughts ... these are bought CEOs six return ... in the media ever return hire that inflation could justify credit risk whichever one ... after readjust that means that when prices decline to get you to the law ... so we look at it and so I am I really paid for ... lending money to look says she's the US government to a really well in the U S government money for ten years and one half percent ... Deutsche think over the next ten years ... that inflation is going to be higher than one percent milk was two or three with him how his either ... that doesn't owe us make sense ... so yes did realize ok ... I can lend out money that was how far can be one of three years maybe five years ... we understand the real you accept the lower return than in the interim ... which are thinking of longer term don't really want that money to come back ... for when the imbalances gone away ... yields might be higher I can then redeployed much more attractive return ... when you begin to trade office we look at what's the role that were playing in someone's portfolio for the war of the bomb components someone's overall portfolio worst bolstered the anchor for response to the local chili cook off ... Portugal's be the protector of capital ... bill the risk Apple is really all the equities for ... real estate deal other items to my puzzle remembering lower all this ... we look at that's ok the we need to play the role the role is anemic sure this is a low volatility strategy ... because we understand they're doing ... investors into another high volatility ... investing ... and that's ... more fun to do that ... you will find Indigo that means that ... I will underperform the ... longer term and is forecast to one ... so what will happen to them as he gets if ... rates rise so it is one of low caste to reprice the bowl sponsor bills longer portfolios we've chased yield stress and and with the result is going to be ... the value of their portfolios and rock ... it will probably drop by more the in the mountains income the chair generates of the end result for them as is the Total Return becomes less than zero
Parnassus Statement on Wells Fargo I bought PRBLX b/c of its eclectic set of holdings and fairly solid history through several market cycles, not b/c it's an ESG fund. That said, I'm inclined to trim/liquidate for a bit to see how this plays out in the markets, even though it's "only" 5% of the fund. Plus it'll let me trim my equities a bit and free up some $$ to pay for my new car when it arrives. ;)
Sounds like a good plan. The point I was trying to make earlier is that accounting for E, S, and G risks (that's what they are) among others is part of the fund's risk management approach, and the risk management over the
years is what's made the fund successful: running about with the markets in good times, and protecting the downside in bad times.
For sure, though, they blew it this time.
Scottrade Exploring Sale When Junkster wrote about a modest account, I didn't realize that what he meant was that the account owner was being modest. :-) Nice job, and congratulations on getting that bonus.
While I feel that Fidelity is one of the best places going in terms of breadth of offerings, pricing, and service, I find they exaggerate a bit when it comes to dealing with groups having unique needs. Three personal examples:
- The linked article mentions HSAs. Fidelity offers HSAs to employees through their workplace, but doesn't offer HSAs to those unique individuals who hold HSAs independently. (Fidelity says it get lots of requests for HSAs, and it says it it is working on it, but it has been saying that for years.)
- I've written about funding a non-resident alien's US college education (a rather unusual need). Fidelity's response was basically - call around our various departments and figure it out for yourself.
- Years ago, I asked Fidelity for a bonus to bring an IRA to them, ironically from WF. As an alternative, I asked Fidelity to simply cover the transfer charge. Fidelity refused, saying it couldn't for tax reasons. See Junkster's boglehead thread for how this can be handled cleanly. So Fidelity lost out, Merrill Edge won, I got BofA credit cards with better rewards than Fidelity's Visa, and Fidelity lost a second time.
Fidelity handles "unique" needs that it has figured are worth its while, i.e. needs with a sizeable market, not "unique" at all.
