Tommy M wrote:

- quote -


That's easy - an IRA with any brokerage firm would work for trading
stocks & bonds. Just check to see that the mutual funds you like are
available through the firm. For a self-directed account try discount
brokers like TD Waterhouse, Fidelity, eTrade, Schwab, Ameritrade - all
offer many mutual funds as well through the same brokerage account.

- quote -


Just about any mutual fund company allows you to set up periodic
sales/distributions from your funds ("send me $500/month"). Many of
the brokers allow similar arrangements. It's not really as feasible
for stocks and bonds though...for example you can't just sell 1/50th
of a bond to raise cash, they trade in certain sizes ($1k, $5k, $10k
multiples). And unless you're in a wrap account commissions on all
those small stock trades would kill you. The best you could do is have
an advisor who oversees the account & sells stocks/bonds to raise cash
as needed - which costs money. It's a lot easier to do this kind of
thing with mutual funds.

I would say focus on your funds selection first and then see the best
place to buy/hold them, THEN see what the distribution mechanism would
be. Every firm has its own name & procedure for it but it's a common
thing to do.

- quote -


Those sound like firm-specific problems - call & tell them you're
considering moving your money elsewhere because of the delays, and
follow through if the service doesn't improve.

-Tad

shark572[at]yahoo.com (Tommy M) wrote in message news:<d759909e.0401221513.4a8975f5[at]posting.google.com> ...
- quote -

My broker allows me to invest in stocks and bonds in my IRA. I can
even buy and sell options with certain restrictions (I may be the only
person doing this with this broker). I haven't tried any withdrawals.

--
Ron

On Thu, 22 Jan 2004 18:01:05 CST, shark572[at]yahoo.com (Tommy M) wrote:

- quote -

Suggest you try Vanguard. They do this (monthly distributions via
wire without service fee) with their mutual funds, and I suspect they
will do it with their brokerage service (Vanguard Brokerage Service,
or VBS).
www.vanguard.com

I would also check with Fidelity.
www.fidelity.com


-HW "Skip" Weldon
Columbia, SC

Given the amount of assets, have you considered private account management?
Provides include Manulife and Curian, www.curian.com


"Tommy M" <shark572[at]yahoo.com> wrote in message
news:d759909e.0401221513.4a8975f5[at]posting.google.com...
- quote -

I need to find an IRA custodian that will allow buying and selling of
any and all exchange listed securities including stocks, mutual funds
and bonds. I also need to have a fixed amount of my IRA invested
securities liquidated and distributed by wire tranfer to my checking
account on a monthly basis. Of course a reasonable fee for these
services is also desired. I have asked several brokerage houses if
they can do what I need and for starters they have all said my mutual
fund selections would be limited.

I am using a financial consultant now for the above services. They
have my funds placed with Sun America/Pershing and I am able to buy
and selll what I want. I am having severe problems in getting any
changes to my monthly disribution amount implemented. Whenever I try
to get a change made, which is not very often, the distributions stop
or are incorrectly made for long peiods of time. My financial
consultant says the problem is with Pershing and that they are doing
the proper paperwork to implement my changes.

I have beeen waiting seven days for the financial consultant to get me
a wire transfer number for a missing Pershing deposit.

I can no longer rely on my current setup. Can anyone here suggest
where I can get the kind of IRA custodial setup I need?

Are there any IRA forums or newsgroups anywhere where I may also turn
to for these kinds of questions.

Thank you.