As I like to do mainly penny stock on line, I am leaning towards NDB as well. This is a copy of the email I sent to them this morning. Please feel free to critque the email (delete, add, or change portions) prior to me sending it to other firms. From speaking to my Paine Webber broker, I know that they would jump at the chance to get 20-30 new accounts and offer preferred rates but that is still too high in commissions and does not allow us online trades; my point is, if PW will bend over backwards, the online houses should be willing to do something for us too.
The letter states:
Due to the increase in Farsight's pricing, several of us from the web
site Silicon Investor are banding together to leave Farsight for a new
broker. Depending on the terms, we should have a minimum of 20-30+
accounts we would like to open. Some are IRA accounts, others are just individual investor accounts. I have not taken a poll as to the dollar amount of these accounts as I would prefer the people on my list phone or email that info directly to the new house we are considering but I can say that it is my impression they run a wide range with several large ones and some on the smaller end. We were at Farsight as they do have (generally) good customer service (same price to call a broker as to trade online, excellent problem resolution, speedy responses, etc.)and for their Flat rate pricing for unlimited shares. Some of the people on the list like to dabble in high risk penny stocks so the ability to do OTC:BB without share restrictions is important to them as well. Free checking, Gold debit cards, and typical banking features at low or no rates are a plus to many of the people concerned. I have become a single point of contact for researching our replacement firm, as far as our group efforts, obviously they are seeking individual solutions as well; if someone can offer us what we require and give us a reasonable incentive to move our accounts to them, I feel several of us former, or soon to be former, Farsighter's would do so.
Your terms and what you offer are fairly straight forward but what we
are seeking is some type of incentive to all open accounts at one firm. Is there a point of contact with whom we can negotiate such a deal or would we all be left to our individual selves in dealing with your firm?
Some firms offer a period of free or reduced trading to open accounts as an incentive or reduced rates for a specific number of accounts or a certain dollar amount. We know what you offer publically and don't want to change the way you do business, we are just looking for our best option long term as well as some sort of benefit for bringing you a good piece of business collectively.
Please advise,
Name
Email
Phone/Fax |
