Sunday, July 09, 2006
Update on the Sharebuilder saga
Today Sharebuilder sent me another email, asking me to fill out a survey about my customer service experience (see the previous post about how their email didn't credit me properly, etc) - and the link to the survey doesn't work. O boy.
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I used to have a Sharebuilder account but like you was a bit unsatisfied with the "real-time" selling costs and strange customer service. The only reason I opened it was because I didn't have enough for a minimum at a mutual fund firm. Well, it turns out that T. Rowe Price will waive the $2500 minimum as long as you commit to paying $50 a month through their Automatic Asset Builder service -- but unlike Fidelity, you don't have to commit to every month. You can do every other month (what I do) or only certain months. The only drawback is that you'll have to pay $10 per year per fund that has a "low balance". But that's much less than Sharebuilder since you can buy and sell mutual fund shares for free. Great for dollar cost averaging!
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