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T. Rowe Group, Inc. (TROW) Message Board

  • George_Comstock George_Comstock Jun 15, 1999 7:45 PM Flag

    Commission Rumor

    A broker told me an announcement is likely soon
    about a new flat rate commission at T. Rowe Price
    Discount Brokerage. They tried an internet only flat rate
    of $29.95 earlier in the year, on a trial basis, but
    reverted to the old structure. Been thinking about moving
    some of my stock trading to Brown & Company for lower
    rates (got most of my mutual funds with Price and
    trading stocks with them was just too darn convenient)
    Any thoughts on whether this is good or bad (more
    volume, customer retention, vs. lower margin ) for T.Rowe

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    • I got in Blue Chip 2 years ago at $20, and it is
      not at $34. Thats a 70% return since 2/1/97 until
      today. I'm happy. I guess I'd be happier with last years
      SCi. & Tech. returns.

      Value has done well this
      year, up 18%.

      I have some in High Yield. Should
      I move it to S&T?

    • I have tried
      several different stock advisers and financial sites and
      this one really seems to be nailing it. Thought some of you
      might want to check it out.

    • Growing pains for E*Trade, I suppose. In early
      1997 I sent them a check plus a completed IRA
      application, and a fund transfer form. When I received my
      first statement, it was set up as a regular non-IRA
      account. Fearing tax penalty consequences, immediately
      sent an email, and tried to call. Three calls, three
      waits of over 30 minutes. No response to email. The
      following week, same effort, and finally reached a customer
      service person, who promised the problem would be fixed.
      The third week, still no email acknowledgement, and
      no promised call back. The fourth week, I waited
      through the long cue, spoke to a customer service rep who
      saw NO indication in my account of previous person's
      promise to fix it, and NO change in the account
      registration. She promised to fix it. The fifth week logging in
      revealed NO change. Another call (several attempts, LONG
      waits, etc.) reached someone who noted my previous call,
      and couldn't understand why the simple problem hadn't
      been fixed, promised to handle it personally. The
      sixth week, no change, no call back, no answer to four
      emails. I sent a letter, an email, and placed a call to
      cancel and return the IRA transfer money to T. Rowe
      Price. It took two weeks for TRP to receive the funds.
      All in all, one of the worst customer services
      experiences I've had in 20 years of investing.
      PS- the
      copy of my cancellation letter which I sent to the
      president was never acknowledged).
      PPS-they sent all
      the IRA money to TRP, but still never closed my
      account- which now shows a balance of $2.26! registered as
      a regular non-IRA account. I'll never do biz with
      them, marvel at their share price appreciation, and
      damn them whenever I'm asked for a broker

    • Trow is such a bargain here once the laws change
      major consiladtion should insue, Trow could easily be
      taken out at 70+
      per share, The one thing that is
      frustarting as a long term trow
      holder(over 3 years) is
      that the do not market thier funds well.
      should be pouroing into SCI/TECH fund as Morris is no
      doubt along with landis one of top TECH fund managers.

      Long term if TROW does not get bought out which they
      have always said they want to remain independent I
      still think will see 50 this year and 100 by 2002, this
      next quarter should be a blowout.
      Although I
      haven't seen an TROW flow numbers the revenues from
      existing assets will be strong due to the markets
      Good Luck to all

    • I've had funds at T.Rowe for 5 years. All in
      Mutual Funds. I'd love to trade on my own, and see if I
      can outperform Blue Chip Fund. But high commisions
      sent me over to Schwab. If T. Rowe drops to $24.95, I
      may convert some funds into a self directed Account.
      I have heard nothing from T. Rowe, as a Mutual Fund
      owner. If they are offering new rates, they ought to
      publicize it more!


    • T.Rowe Price Discount Brokerage announced that
      effective 6/18/99 all internet originated stock trades, up
      to 1000 shares, will cost a flat $24.95 commission.
      Trades over 1000 shares will add $.02 per share. I can't
      find in the company's financials any breakout of
      brokerage revenues. Perhaps it's an insignificant source of
      revenues, but any thoughts on the impact to the bottom
      Anyone use their brokerage service? I've used
      them for convenience (tried E Trade, but their service
      sucked so loudly, I went back to TRP after 60 days).

      Do other online brokers allow you to have a
      simultaneous limit orders above and below current prices? I'd
      like to place a stop loss order to sell, AND a sell
      order at my target price. TRP says they no can do,
      because when one transaction occurs, the other order
      would become a short sale. Doesn't make sense to me.
      Thanks for insight from the more experience traders.

      • 1 Reply to George_Comstock
      • George,
        Lets say you own 50 shares trading at
        You place two stop sell orders, one at $75 and one at
        In a volatile market the stock could drop to the
        bottom stop sell order of $75 and trigger the sale (now
        you have sold all you shares), then within minutes
        the stock shoots way back up to the $125 stop sell
        order, before T Rowe can contact the specialist's to
        cancel the second stop sell order. If the specialist's
        don't get contacted in time they would sell twice and
        the second time would be with shares you don't own.
        (could be a problem if your dealing with Berkshire
        Hathaway shares)

        Hope this helps...

    • Ever say to yourself

      Ever say to yourself, "If I could just see 3 or 4 points on 3 or 4 trades a week?"

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