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Does Scottrade Charge Fee for Reinvesting Mutual Fund Dividends?
One of the links I read here recently (can't remember which) also had a link reviewing Scottrade. One of the negatives was that Scottrade charges a fee for reinvesting dividends. I Googled topic and got differing statements. Some said funds themselves charge fee for reinvesting, others said no fees.
During the mutual fund purchase process at Scottrade you are prompted to choose whether you want the dividends reinvested or not. I have mine reinvested and there is no fee for it. There is no option for reinvesting dividends from stocks. At least not in a Roth IRA.
Thanks Scott and sp60. I have two accounts with Scottrade and have had all dividends reinvested. I had not noticed any separate fees in the statements, but the "Cons" for ST in the link made this definite statement so I thought I'd better reck.
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