Reply to Where do you bank if you have a high net worth?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My ML broker does essentially anything I need: contest a credit card charge, overnight something to me, waive a charge, etc. makes it very easy for me. [/quote]

And you have no f'ing clue how much you are overpaying them. Do all of you clueless people belong to the same club?[/quote]

Enlighten us how we are overpaying them.  Unless you claim that their bid-ask is fraudulently high, my ML rep does everything for free.  Don’t use him to buy and sell stocks, pay 0 commissions, get access to IPOs they underwrite, etc.

I assume you don’t physically hold your own stock certificates but use a broker/dealer as well.[/quote]

Tell us what you are paying them in fees and costs, all in. Include any percentage of assets you are being charged and any payments they get out of your anticipated return.

PS. The alternative is not holding your own stock certificates silly. You can invest in ETFs or mutual funds. You can pay a flat fee advisor. There are many alternatives to paying 1 percent to a big broker or advisor. [/quote]

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