"PeterL" <po.ning[at]gmail.com> wrote in message
news:604c27e3-315f-4f70-a3f6-21fef4240713[at]a29g2000pra.googlegroups.com...
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yes you are correct. I am going by my friend's experience with this fp at
Merril. My friend has done well by him and I have met with him and get a
better feeling about him than the former guy I've been using. But I will be
watching what he is doing closely. In another response that I just posted I
mentioned that I feel that I don't have time to be following the markets
well enough to be making all my own financial decisions, but I do have the
time to be checking my own account thoroughly to see if there is anything
fishy going on.


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Yes, those are charges for selling each fund.
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"Igor Chudov" <ichudov[at]algebra.com> wrote in message
news:l62dnX5OHsT5c8XUnZ2dnUVZ_qzinZ2d[at]giganews.com...
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With my consent. We had a meeting a month ago where I told him that I was
considering changing financial planners. He warned me against changing from
his stay-the-course-and-well-balanced philosophy to somebody he derided as a
market timer but he said of course the choice is mine, it's my money. Last
week I told him that I had made the choice and wanted him to sell off all of
those DFA funds.

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systematic when I tried to do the investing myself. For example ever since
the US started running large deficits in the Reagan years I figured that it
was going to eventually lead to unavoidable hyper inflation and that bonds
would be a miserable investment. So I would never consider owning any
medium term government or commercial bonds. But using a fp they do that by
habit and that was what balanced my portfolio in the early years of this
decade and made the former fp look okay.

also in answer to your question why I don't do my own thinking, I have a lot
of other interests and professional demands that use my time, so one percent
of the value of the portfolio seems okay if a professional who is following
the financial world can do better than me.

Walter


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Walter_Slipperman wrote:
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Cost-sensitive, passive-management firms like Vanguard and DFA do not
typically reimburse custodians for holding their funds (the average
mutual fund that can be traded at "no transaction fee" - NTF - is
charged 0.35% per year to be listed on that platform, which can be
substantially more costly than trade-ticket fees; the costs are borne,
indirectly, by the shareholders of the fund). As a result trades of
DFA/Vanguard funds are typically "non-NTF" and commissions apply. Not
equity commissions, but the rates applicable to non-NTF mutual funds.
These are unique to each custodian.

The commission rate can (but does not necessarily) vary a bit depending
on the relationship between the advisory firm and the custodian. I'm not
familiar with Schwab Institutional's current policies but it looks like
their minimum may be $29, maximum $49.95, with staggered rates in
between depending on the trade size - not atypical. Your (former)
advisor can clarify the fee schedule for you. It would be interesting to
ask Bank of America what they'd have charged to sell the funds for you.

Surely you've noticed trade-ticket charges in the past? If not this may
be the time to start paying attention to how you pay for investment
advice, and what you get for what you pay. You're about to step into
what may be a completely different cost & service structure.

-Tad

On 2008-12-28, Walter_Slipperman <WalterS[at]nospam.com> wrote:
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Can you clarify, did your "fp" do this without your consent, or with
your consent and knowledge?

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I would like to ask you to elucidate why exactly you need someone to
do your trading for you, as opposed to you selecting funds based on
your own thinking.

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On Dec 28, 4:26*am, "Walter_Slipperman" <Walt...[at]nospam.com> wrote:
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Investing with a friend and trust are two of the factors why people
invested with Madoff. So be careful.

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Are these the charges for selling these funds?

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I guess one reason may be when these sales were made. Sometimes when
I buy or sell stocks through Schwab I get different costs even within
the same lot.
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My financial planner has been using Schwab Institutional to hold my accounts
and has been using a lot Dimension Fund Advisor mutual funds. Between my
wife and I we have eight different accounts and the fp has bought a lot of
funds distributed among those accounts, with some redundancies.

I've become displeased with his performance and responsiveness. Yes I know
the extreme changes and drastic loses to portfolios that are effecting many
of us but I am disappointed that he didn't see this coming, which is kind of
understandable, but in addition to that he has not managed things well from
a tax perspective this year and I am dropping him and moving everything from
this guy to a friend's fp at Merril Lynch. I just like and trust the new
guy a whole lot more.

The multitude of DFA funds had to be sold and I am looking at 19 sales that
were just made, ranging from $29 up to $49.95 with lots of different values
in between. The sales on those funds came to $719.46.

I'm wondering if there was a better way to handle all of these sales? and
why was there such a different range of prices for the sales? [I will talk
to him and to Schwab to understand this but I thought I'd get some opinions
here too.]

Thanks,
Walter