Free Trading

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May 12, 2010 7:40 pm

More and more clients are moving to doing their own trades.  For example, WFI allows any customer to make 100 free trades per year with a $25K balance.  My neighbor has this type account.  He claims he's had a 130% return on a $341K account.  So how does one prevent a client to switch to a free trading account?

May 12, 2010 8:13 pm

This is a joke, right?

May 13, 2010 2:26 pm

[quote=donm]

More and more clients are moving to doing their own trades.  For example, WFI allows any customer to make 100 free trades per year with a $25K balance.  My neighbor has this type account.  He claims he's had a 130% return on a $341K account.  So how does one prevent a client to switch to a free trading account?

[/quote]

Your neighbor should go work for Goldman Sachs.

May 13, 2010 5:37 pm

Well he will come to you when he gets below the 25k.

It will not be long.  

May 14, 2010 7:42 pm

[quote=donm]

More and more clients are moving to doing their own trades.  For example, WFI allows any customer to make 100 free trades per year with a $25K balance.  My neighbor has this type account.  He claims he's had a 130% return on a $341K account.  So how does one prevent a client to switch to a free trading account?

[/quote]

Just move on and spend your time looking for those who will value your input. 

May 17, 2010 7:32 pm

[quote=donm]

More and more clients are moving to doing their own trades.  For example, WFI allows any customer to make 100 free trades per year with a $25K balance.  My neighbor has this type account.  He claims he's had a 130% return on a $341K account.  So how does one prevent a client to switch to a free trading account? [/quote]

You wait until he blows it up then you say adios.

May 19, 2010 2:38 pm

I empathize with you donm...EDJ always has their newbies call and pitch Johnson & Johnson, or P&G, and then charges a minimum of $50/2% per trade.  If I received that call I'd laugh.  Who is going to charge me for such generic information?

May 19, 2010 3:28 pm

[quote=donte_drink&drive]

I empathize with you donm...EDJ always has their newbies call and pitch Johnson & Johnson, or P&G, and then charges a minimum of $50/2% per trade.  If I received that call I'd laugh.  Who is going to charge me for such generic information?

[/quote]

Apparently Edward Jones, Captain Obvious......

May 20, 2010 3:16 pm

[quote=donte_drink&drive]

I empathize with you donm...EDJ always has their newbies call and pitch Johnson & Johnson, or P&G, and then charges a minimum of $50/2% per trade.  If I received that call I'd laugh.  Who is going to charge me for such generic information?

[/quote]

The person who is going to give you the advice as to why to purchase JNJ or PG right now.  The person who is going to keep you updated on what you're hearing in the news about JNJ or PG in the future.   And finally, the person who is going to call you and tell you to take profits or sell out of it when the time in right to move to a different stock.  Generic information is free.  Advice on what to do with generic information is not. 

May 20, 2010 3:27 pm

Spaceman, how do you find the time to call those customers with 10thousand dollar accounts and still make 25 contacts and 4 appointments a day?