Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Waterhouse Securities -- Ignore unavailable to you. Want to Upgrade?

To: John M. Hammer who wrote (411)	3/26/1998 11:44:00 AM
From: Winston Kim	Read Replies (2) \| Respond to of 2076

WebBroker down again from waterhouse.....ARGH!! I hate this...seems like 2-3 times a month webbroker is jammed up and investors can't get it...you have to call the local branch...in which...takes several minutes for the order to executed....by that time the bid and ask are above the price what you want to sell or buy @...

To: John M. Hammer who wrote (411)	3/26/1998 4:30:00 PM
From: Cage Rattler	Respond to of 2076

John: I'll pass to someone with more insight. Ciao, Ted

To: John M. Hammer who wrote (411)	3/31/1998 8:11:00 PM
From: Thean	Read Replies (2) \| Respond to of 2076

Roth IRA conversion and 1998 contribution - I don't like it! I completed the conversion of my regular IRA into Roth IRA at Waterhouse last month. I also sent in a $2000 check last week for 1998 Roth IRA contribution. They called me today and say I can't do that. The reason is I need a new Roth IRA account for 1998 and beyond and have to keep this separate from the converted Roth IRA account. This is disappointing since now I have to start with $2000 again. The key is with $2000 the commissions can add up quickly if one trades. They said it is because the government still has a lot of uncertainty about the rules of Roth IRA and Waterhouse decided to take on a conservative stance to keep two Roth IRA account for people like myself until further notice. They say there is a chance that the two account may merge into one later but for now I will have to keep two Roth IRA accounts if I want to make contribution for 1998. My question for you all is do you know if this is a universal practice among all brokerage firms or is it just Waterhouse? If other firms do not practice this, has anyone had experience moving one's Roth IRA to another brokerage and able to make 1998 contribution into the same account all at the same time. TIA.