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Non-Tech : Waterhouse Securities

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To: margin_man who wrote (129)	9/28/1997 3:13:00 PM
From: Peter Speyer	of 2076

Waterhouse has again extended the $12.00 rate, until October 98. I appreciate the fact they don't engage in the 95 cent gimmick. We're too smart for that, and it makes bookkeeping much easier. Waterhouse is a terrific value, and I have had no problems in months. I perform around ten trades a week. The local branch in SLC has been consistently helpful and courteous. Only downside I find is Waterhouse will charge you $25.00 per transaction if you make more than five sell transactions in a single account on your collective mutual funds. This includes the "no-transaction fee" funds. I would not use Waterhouse if my main interest was mutual funds, since you could not reallocate assets economically if you owned more than five funds, or if you wanted to do so more than once a year. I suppose you could open separate accounts, with one or two mutual funds in each, but that would be silly, when other brokerages are available. I wrote to them by email, and got the form letter below, and no further response. Guess I should call Larry Waterhouse in person. Dear Mr. Speyer; Thank you for the E-mail. Thank you for your suggestions. We have forwarded them to the proper area for consideration. Thank you for choosing Waterhouse Securities.

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