To give you a comparison
point, here's a sampling of what four major firms are offering to
what you might call investing's middle class - people with $100,000
or less to put to work.
-- MERRILL LYNCH With $20,000 in cash or securities, you can open
a cash management account with this full-service giant. At this
level a team of brokers will likely put together a fund portfolio
for you. To maintain your account, you can choose to pay by fee or
by commission. Will you get stock-picking advice? That's at the
discretion of the brokers you've been assigned.
-- UBS For $50,000 in assets, full-service UBS offers the
fee-based InsightOne account. The annual fee, charged quarterly, is
negotiated with your broker. (The minimum is $1,250.) Services run
the gamut: A broker can help you pick stocks or funds, develop an
asset-allocation model or plan estate strategies. A minimum of
$100,000 gets you into the Access program--essentially a portfolio
run by an institutional money manager and supervised by your
brokers. Fees for this top out at 2.8%.
-- CHARLES SCHWAB The once no-frills discounter is increasingly in
the advice business too. The minimum to open an account is $10,000.
For a quarterly fee of $1,000 or an asset-based fee as high as
0.75% (whichever is higher), you can sit down with a broker in
Schwab's Private Client program. (You get some free trades too.) A
cheaper way to get individual stock and fund selections is to ask
for Schwab's Advised Investing options. You'll get one or two
annual portfolio consultations by phone with an individual or a
team of advisers. This costs $125 to $250 per quarter.
-- FIDELITY For smaller investors, this brokerage keeps things
refreshingly simple. Just $2,500 opens an account, and you can even
meet with a representative at one of 92 investor centers. You won't
get stock recommendations, but a rep will help you select mutual
funds based on a target asset-allocation mix. At $50,000 you can
get a discretionary account--that is, a broker makes trades for you
to ensure that you are sticking to your investment plan. But again,
the rep will be putting you into funds, not stocks. The annual fee
for this account is 1.1% of assets.
Summary Box: Stock market snaps a three-week slump The Associated Press SEPTEMBER RALLY: The stock market had its first winning week in a month after better news on employment and manufacturing lifted shares. ...
Stock Market Isn't Impressed With M&A Boom Wall Street Journal (blog) Compare that with the dismal performance in the stock market, where the Dow Jones Industrial Average fell 4.31% to 10006.42. It was the first “down” August ...
Is It Time to Scrap the P/E Ratio? Wall Street Journal But broader economic factors are increasingly driving the stock market these days. Just look at the events of this week. On Aug. ...
Nigeria Looks to Revive Stock Exchange Wall Street Journal Data from market-data provider Factset show that the Nigerian All-Share Index had a massive 70% fall from a high of 66371.2 in March 2008 to a low of ...
Stock market kicks off September with strong gains Wednesday NEW YORK —The stock market started September with a jolt, turning sharply higher Wednesdayafter a pair of encouraging reports on manufacturing sent investors seeking out riskier investments. Prices for the safest assets — Treasurys, gold and the dollar — all fell.
Shenzhen Stock Market Indices Weekly Update: The A Share Market Rallies The A share market rallied this week. The CNINFO A Share Index, offering a benchmark for evaluating overall market trends in China, closed at 3003.39 points, up 3.46%. The SZSE Component Index, a leading indicator of the movement trends of the Shenzhen Stock Market, increased 3.92% to 11467.09 points this week.
Stock market kicks off September with strong gains NEW YORK —The stock market started September with a jolt, turning sharply higher today after a pair of encouraging reports on manufacturing sent investors seeking out riskier investments. Prices for the safest assets — Treasurys, gold and the dollar — all fell.
Summary Box: Stock market snaps a three-week slump By The Associated Press SEPTEMBER RALLY: The stock market had its first winning week in a month after better news on employment and manufacturing lifted shares.
Stock market: Further losses for equities and government stocks The local equity market closed in negative territory for the third consecutive session. This morning, the MSE Share Index shed a further one per cent to drop to 3,395.12 points, a fresh two month low.
Stock futures flat ahead of payrolls Stock index futures were little changed on Friday ahead of the key monthly payrolls report that will give investors insight on the state of the ailing labor market.
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