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Date: 1/7/2009 3:10:40 PM
Author: dfish Country Flag
Subject: 5/3419 - Re: First Question
 
 
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Message:

Nowadays, there seems to be a couple of possible reasons to use a full-service broker:
1. Cluelessness. People who know nothing about investing and need a ton of hand-holding...and don't realize that they can still get a lot of info/help at a discounter...or are afraid to try it.
2. Being filthy rich...to the point where the full-service broker is going to pay a lot of personal attention to your account(s)...and probably give you all the best rates.

One gray area is where you don't have a choice...like the company 401k is with Fidelity, so the commission is $17.95 and not something lower. Of course, for Fidelity, that's a discount rate.

 
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