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Non-Tech : Brown & Company New "5 and 10 Store"? -- Ignore unavailable to you. Want to Upgrade?

To: Fred Puppet who wrote (280)	11/23/1998 1:12:00 PM
From: Fred Puppet	Read Replies (1) \| Respond to of 1865

How fast and consistently do you get order representation through Brown? For example, if you place an order to buy XYZ on NASDAQ for 10 1/8, and the current inside market is 10 x 10 1/4, how soon do you see your bid of 10 1/8 represented? If the market maker is paying for order flow, they would be tempted to be rather slow with your order, to see which way the market moves. If 5 minutes after you place the order, XYZ is still at 10 x 10 1/4, trades are going off at 10, and you have no fill and no representation, how will Brown handle your complaint? What if, by the time you complain XYZ is at 11? Will they retroactively get you a fill, or will they stonewall you? Thanks to anyone who can answer.

To: Fred Puppet who wrote (280)	11/28/1998 8:57:00 AM
From: Bruno Galliano	Read Replies (1) \| Respond to of 1865

I also tried Brown during a very busy day on the Mkt when it was up over 150 Dow points. I tried to call their telephone broker and was on hold for at least 12 min. I then tried their customer service and was on hold for another 10 min. When I finally reached The customer rep, I found they do not offer a money market either. I have never been on hold with Datek for over 3-4 mins. With the matter of you feeling safer with Brown because Chase owns them. From an experience in arbitration with Prudential Securities, I wouild feel no more comfortable with them over Datek. I do not believe they will give you any more than what their insurance provides under any circumstances. Prudential had the slogan Solid as The Rock. Getting a fair settlement with them, without arbitration, was like trying to break into a rock. Had it not been for a very fair Arbitrator who finally ended seven years of trying, I would still be waiting for my money. Read Serpent on the Rock. I don't mean to imply that all big companies are unfair. But largeness doesn't always mean fairness.