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Alpine Global Premier Propertie Message Board

  • gilandduke gilandduke Feb 10, 2011 2:06 PM Flag

    dividend problem

    I am a TD Ameritrade client. For the recent stock dividend, they did not give me cash for fractional shares, but instead gave me fractional shares. I called to complain. They defended their "policy." Eventually they agreed to give me cash in lieu, but instead of recharacterizing the transaction as they should have done, again for their convenience, they accounted for the transaction as a sale of existing shares. This is not the first term I have had this kind of problem with TD Amertrade, that is their implementing something improperly, and also their subsequent reluctance to correct their mistake, or an outright refusal to do so. (By the way, in my Schwab account this was handled properly). I want to close my TD account, and open one elsewhere (but not at Schab because I prefer at least 2 separate brokers). Can anyone provide their experiences with their online broker, or recommend an online broker. I am presently considering Scott and Fidelity. Thanks.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I like etrade they do a good job and you can convert fracational in to cash anytime free. I personal like the $2.00 or $3.00 worth of a fracational share left in my account because it remindes me about a stock I may have sold at one time and how much I paid and where it is at now.Etrade shows your profit and loss in real time and I tend to buy and sell the same stock alot over the years. They also give you CNBC for free, good if you do not have cable or are not at home but have your computer you can still watch it anywhere you have the net.

    • What's wrong with fractional shares? A fraction of a share is better than a uselessly small amount of cash.

    • Of all my accounts I favor Etrade. It is nice keeping a few bucks in their Bank as well. You get free ATM transactions at any ATM and they reimburse you for any other fees associated from Outside banks. It is pretty darn nice.

 
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