Wednesday, October 26, 2016
Hypo: You've dealt with the same stock broker for over 35 years, and he or she has been at a full brokerage house, and then the brokerage house misreads and misapplies a regulation to disallow trading in XIV in your retirement accounts, and it's the only thing you actually trade in those accounts, you are going to be distraught and saddened to have to switch brokerages. But you do it, and you go to Schwab. In addition to the cost savings (and we have spared ourselves the grief of calculating how much we would have saved had we switched years or even decades ago and have comforted ourselves with the thought that God will reward our loyalty), you cannot believe how amazingly efficient Schwab is compared to what you've been dealing with and you cannot believe how fabulous and easy its website is compared to what you've been dealing with. Our Finance Department has not done any comparative study of other discount brokerages, so we assume Fidelity, Vanguard, TD Ameritrade, Scottrade, and Etrade are as good or better. But we can say, we love Schwab.