I have been a Datek customer for over a year now, I have executed several hundred trades and have profited greatly. I have had 2 or 3 occasions where trades did not execute properly, I contacted Datek and those problems were resolved to my satisfaction satisfactorily.
I have requested funds from my account (recently) and received a check in 4 days coast to coast, even the USPS worked that time.
I have no personal knowledge of problems, though I was emailed by an investor who had problems, and forwarded his problems to Datek, by his accounts those problems still have not been satisfactorily resolved, I read horror stories here every day, but again I don't experience the problems.
I think however that there are a couple of fundimental problems at Datek:
1. Management is technically oriented, and believes everything has a technical answer. They need a seperate people oriented customer relations office dissassociated from technical management.
2. Most of the night mares have occured in the past 2 months, in fact nearly all, I think few correspondants here realize the disruption that can be caused by a move. That disruption was amplified as technically oriented management was mostly concerned with phone lines and servers, and they did an admirable job on that end.
It al boils down to the fact that Technically oriented management should manage computers, They need to get people oriented managers to deal with customers.
I do not think there is any fraud involved, nor do I think that Datek is not trying to get things straight, I only question whether they presently have the people with the skills to get the customer relations job taken care of.
I continue to enjoy good service from Datek and I expect I will be a customer for many years to come.
Rod |
