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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: Jorj X Mckie who wrote (22146)3/8/2000 8:21:00 PM
From: Alan Smithee  Read Replies (2) of 63513
 
Our firm's Plan Administrator is pretty well convinced to move the 401K from Schwab. This is based on complaints from me as well as several others.

One experience I can relate that happened to a friend. When he left the firm, he contacte Schwab about transferring his account to an IRA with a different brokerage. Schwab tried insisting that they had to liquidate all of his positions (thereby generating commissions) and transferring the cash to the other broker rather than doing a broker to broker transfer of securities. I understand this was resolved ultimately in my friend's favor.
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