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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Spots who wrote (6460)	1/20/1998 10:27:00 PM
From: pae	Respond to of 16892

Spots, David, The message I get from a $50 fee for a certificate (e.slob charges a fee for this also I think) is that Datek wants to do our trades quickly efficiently and electronically. I infer that Datek suffers paper certificates only so far as necessary (mostly to facilitate account setup) and discourages absurd paper suffling. Paper certs are a pain in the butt, if I never touch one again it will be too soon. $50 for anachronistic paper pushing doesn't seem high to me, but then I'm not a reporter charged with the thankless job of ranking online brokerages to generate copy. The message I get from the IRA fees is this: IRAs tend to be conservative buy and hold vehicles - some people don't play it that way but as a tendancy I think the statement holds. I think Datek offers IRAs as a service to their more hyperactive regular account holders and doesn't particularly want to compete with Schwab, fido etcetera on gross number of accounts. I think Datek would prefer active traders, many trades and associated commissions. Hence they don't overly grease the IRA slide. I'm ready to ignore the Smartmoney comment as the analysis (or lack thereof) of a reporter, not the analysis of a trader. Cheers!