Do you have a broker--and if so who is it?

[BCompDude]

As the title suggests I was just wondering to myself (and decided to make it public ) how many people have a broker and if they do, whom they decided upon and why.

Edit: Doh! I forgot my selection. I use Sharebuilder. Its cheap. It allows me to invest in dollar amounts. There is no inactivity fee. It allows me to reinvest my dividends for free--and in decimal amounts. Easy interface. Automatically invests for me.

[terry1156]

Re: Do you have a broker--and if so who is it?

I have most of my extra money in Index Funds - no broker needed, low annual fees and I don't have to spend all my time studying the market for stocks. I'm sure I would go with the cheapest broker I could find if I did buy stocks on my own.

[baselle]

Re: Do you have a broker--and if so who is it?

I'm a real do-it-yourselfer; I DRP (dividend re-invest) with optional cash purchases directly from the company through a transfer agent. I have three stocks with three transfer agents. I put a set amount in each each month, more if I see the self-addressed stamped envelope handy. I treat this like a tennis game; when the ball is in my court I hit it back.

No broker, fees are paid by the company, and I invest in decimal amounts too. I can also "flip the switch" in my old age and with a check box on my deposit slip I can get my dividend check. While my DRPs are officially free, it means that those fees are considered income and are taxed. But we are talking a couple of bucks here. Two of my DRPs even send me SASEs, so I don't even pay for the stamp.

Why? I'm patient, and while I write relatively tiny checks each month (dollar cost averaging), it means that all my bucks go to buying stock. You've got to be patient - setting some of these DRPs up takes months.

I like the idea of Sharebuilder, however I currently set aside such small amounts that the $4 trade fee is a bite of what I set aside per month. Still might look into it when I can invest more and if I want to invest in companies whose formal DRP isn't a deal.

[CRFSaver]

Re: Do you have a broker--and if so who is it?

Most of my investing is done through direct investment and dividend reinvestment plans. I have 4 right now and there is no transaction fees as well. I have thought about doign sharebuilder and have not looked at it yet though. I have an e-trade account because my companies ESOP is administered through there so I am able to do optional cash infusions for equity purchases if I want. A friend of mine has Scottrade and is quite happy with them.