bad experience in Charles Schwab recently Message Board

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Non-Tech : bad experience in Charles Schwab recently

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To: Ron Bower who wrote (61)	8/19/1997 12:20:00 AM
From: Rick Ryan	of 124

Ron, It's probably to late now, but next time you should certainly inquire with a manager or the like --- 2000 shares it adds up fast. A brief comment about e.Schwab.... it's the deep discount unit at Schwab but whether you have a regular Schwab acct or e.Schwab, it doesn't affect the routing of your order or its priority with the traders because they have no idea how the order is placed -- nor do they care. A trade is a trade to them. It also doesn't affect your order via the medium by which you place it (i.e. with a live broker, TeleBroker, StreetSmart, Web). These are simply mediums by which customers may place orders, some more convenient than others depending on a specific customers needs/wants. Obviously, live brokers cost Schwab the most so you pay more for that medium. The web costs the least since the software is easily updatable and doesn't require extensive tech support, etc. Many people complain that Schwab's rate are so high but they forget that Schwab also dwarfs their deep discount competition. They have many more services (only a few full-commission firms offer more) to appeal to a broader client base -- the infrastructure is larger (analogous to the US and Mexico). Deep discounters like Datek are looking for primarily one type of customer -- the trader who thinks of nothing but the commission they pay. Schwab has done quite well so they must be doing something right. Most of what is read on threads such as this are people venting about their particular anomalies among several million customers. It's like going to the so-called defensive driving class when you get a traffic ticket. When you get there, everyone has a unique situation for why they didn't deserve the ticket. Well, these forums breed complainers who can tell half a story or only what they wish to believe or understand and pawn off the blame on the broker for what is many times their own ignorance of trading dynamics. Ron, this doesn't sound like the case with you so please don't feel I'm singling you out. However, many others will read this. Good luck. RR

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