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Non-Tech : Waterhouse Securities
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To: Dave Hanson who wrote (268)1/27/1998 9:58:00 PM
From: Thean  Read Replies (1) of 2076
 
I don't know has this been discussed here but today I paid careful attention to the fine print on Waterhouse commission structure when I filled out the Roth IRA conversion and noticed that Waterhouse has two sets of commission structure (because it asks you to pick one):

1) $12 flat rate WebBroker rate - condition is one uses WebBroker to place trade MOST OF THE TIME. My interpretation is one can still use Tradedirect and call to the local branch SOME OF THE TIME and still get $12 per trade.

2) $35 per trade (old commision structure) and allow people to call in to local branch and use Tradedirect (received 10% off).

Now, is this a DON'T ASK, DON'T TELL policy Waterhouse has regarding its dual commission structure policy?

I sure did not hear or receive any mailing from Waterhouse regarding this dual commission structure policy. I'm going to call in tomorrow and find out exactly which side am I on and if I need to sign up. I placed most trades on WebBroker but sometimes I also use TradeDirect.
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