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Non-Tech : Charles Schwab (SCH) -- A tech-stock profile?
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To: stock_bull69 who wrote (313)3/26/1999 9:35:00 AM
From: Gary Metzer  Read Replies (2) of 1390
 
49erSteve,

Re: Schwab IPOs

I have two Schwab accounts and I request shares in both. Usually 100 in my cash account and 1000 in my IRA account. When I receive the allocation call, if I only receive 100 shares I place them in my cash account. You MUST list BOTH accounts when you make your offer to purchase. That way, when you receive your call you can tell them which account to put the shares in. During past conversations with the Schwab IPO rep, I was told that it didn't matter how many shares you requested. Once the shares were allocated, they are distributed according to a formula they have that takes into account BOTH how long you've been a Schwab customer AND how much trading you do with them. Size of account didn't matter, assuming you were either a Gold or Platinum member.

Hope this helps. I'd be very happy if you got your 1000 shares but would wager that 100 is all you'll get. Got call last night and got 100 VMIX that trades today.

Happy Investing.

Gary
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