I'm not too pleased with my stockbroker right now :|

[Miramonti]

Originally posted by: MisterJackson

Originally posted by: jjsole

Originally posted by: PAB
He took over my acccount at the beginning of the month.

First order of business: Sell everything I owned.

I expressed some concern with this because I was taught to sell a mutual fund after distribution so I could take advantage of the capital gains for a year.

Well, he advised against that and I sold everything and bought into a new fund. AT a 5.75% front end load. Not knowing that I qualified to buy into the same fund with no front end load and 12B-1.

I talked to him about it, he asked me not to bust the trade because his boss wanted to dock his paycheck $500 and he'd make it up with discounted IPO offerings.

Today, I find out that the $7000 in mutuals he sold two weeks ago just distributed 70 cents a share in capital gains to their shareholders. The record date was 5 days ago.

This isn't pleasing.

What a load of sh!t.

Sounds like quite a clown.

Okay....first off, are you actually BUYING the sh1t PAB's selling? To reply to his OP with an actual answer means you're either not aware he's a chronic liar and attention whore, or you believe him. If it's the latter, God help you.

Actually I'm a co-conspirator - his pigeon, going along with it to try and sucker in any innocent bystanders. Can't believe you fell for it.

 

[dirtboy]

How do you qualify to buy a loaded fund without a load or 12b-1? I've never seen a fund without a 12b-1 fee.

 

[PAB]

Originally posted by: dirtboy
How do you qualify to buy a loaded fund without a load or 12b-1? I've never seen a fund without a 12b-1 fee.

I have preferred pricing because I've been in the fund family since 94.

NMTAX is the A share, NMYAX is the Z share, which I qualify for.

 

[Evadman]

You know better than that PAB

 

[her209]

LOL...

 

[compnovice]

Originally posted by: MikeyIs4Dcats
ok, what forum did you steal that post from???

:laugh:

 

[mugs]

PAB, you can try to impress us with your oodles of money ($7000 ), but we all know you still live with your parents.

 

[buck]

Originally posted by: Specop 007
I love PAB threads.

:thumbsup:

 

[waggy]

Originally posted by: mugs
PAB, you can try to impress us with your oodles of money ($7000 ), but we all know you still live with your parents.

no ******.

every few months he has to post something. from wakeing up and finding he buaght a new car, finding his "rebate" papers. etc

its like he has to keep reminding us so people like him.


BUT on the offchance (to be honest i doubt it very much..and i tend to beleive most stuff here) it is true. PAB should be on the phone bitching. though not sure it would do anything.

if not might have to talk to a attorney.

 

[theeedude]

Just open a scottrade account and buy some ETFs. Really, you can't do worse than this moron stockbroker.
VTV: Vanguard Total Value ETF.
VWO: Vanguard Emerging markets.
Others:
http://finance.yahoo.com/etf

 

[Sukhoi]

Originally posted by: PAB

Originally posted by: dirtboy
How do you qualify to buy a loaded fund without a load or 12b-1? I've never seen a fund without a 12b-1 fee.

I have preferred pricing because I've been in the fund family since 94.

NMTAX is the A share, NMYAX is the Z share, which I qualify for.

Were you even alive in 1994?

 

[Ameesh]

Originally posted by: PAB
He took over my acccount at the beginning of the month.

First order of business: Sell everything I owned.

I expressed some concern with this because I was taught to sell a mutual fund after distribution so I could take advantage of the capital gains for a year.

Well, he advised against that and I sold everything and bought into a new fund. AT a 5.75% front end load. Not knowing that I qualified to buy into the same fund with no front end load and 12B-1.

I talked to him about it, he asked me not to bust the trade because his boss wanted to dock his paycheck $500 and he'd make it up with discounted IPO offerings.

Today, I find out that the $7000 in mutuals he sold two weeks ago just distributed 70 cents a share in capital gains to their shareholders. The record date was 5 days ago.

This isn't pleasing.

you were a dumbass for following such bad advice.

 

[mugs]

Originally posted by: Sukhoi

Originally posted by: PAB

Originally posted by: dirtboy
How do you qualify to buy a loaded fund without a load or 12b-1? I've never seen a fund without a 12b-1 fee.

I have preferred pricing because I've been in the fund family since 94.

NMTAX is the A share, NMYAX is the Z share, which I qualify for.

Were you even alive in 1994?

He was probably about 10 years old.

 

[PAB]

Originally posted by: Evadman
You know better than that PAB

I also got made while I was at the office.

My "don't leave home without it" garb - http://pics.apartment808.com/users/dukeofurl/IMG_7181.jpg

The office was warm, I took off my jacket and an office assistant freaked out re: MAN WITH A GUN.

Honestly, the best part was knowing I didn't have to care becuase I was a client and I can do whatever the hell I want.

 

[iversonyin]

Who use stockbroker these days to buy mutual funds?! Get a online broker and pick your own.

Stockbroker's job is to churn your account to $0

 

[thomsbrain]

Originally posted by: PAB

Originally posted by: Evadman
You know better than that PAB

I also got made while I was at the office.

My "don't leave home without it" garb - http://pics.apartment808.com/users/dukeofurl/IMG_7181.jpg

The office was warm, I took off my jacket and an office assistant freaked out re: MAN WITH A GUN.

Honestly, the best part was knowing I didn't have to care becuase I was a client and I can do whatever the hell I want.

no, she freaked out because it was a boy with a gun. if it had been a man she probably wouldn't have minded too much.

regarding the original post: sounds like your parents need to fire their stock broker.

 

[PAB]

Originally posted by: iversonyin
Who use stockbroker these days to buy mutual funds?! Get a online broker and pick your own.

Stockbroker's job is to churn your account to $0

Better selection and options.

I've got a program set up on an alternate account where I can buy anything comisssion free, stocks, options, loaded funds at NAV, etc.

 

[Sukhoi]

What possibly is the point of using your knife clip to hold money, when you already carry a wallet?

 

[PAB]

Originally posted by: Sukhoi
What possibly is the point of using your knife clip to hold money, when you already carry a wallet?

Wallet is full of ID cards, important numbers and stuff. I can break out all that's in my wallet if you want to see.