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View Full Version : Anyone use Smith Barney as a brokerage?



2Driver
10-16-2007, 08:23 AM
My broker just moved from AG Edwards to Smith Barney. I like her but like my money more. Anyone familiar with Smith Barney?
BTW: She's been gone for 4 days now and not even a call from AG Edwards about her leaving and she was a VP handing my account. I sign on my web page and her name is gone from my account. WTF how about a heads up. :mad:

Halvecta
10-16-2007, 09:11 AM
VP means nothing. Every sales person is a VP at these companies.
AG Edwards (not necessarily all brokers) was a good firm, whose business model seemed to be client-centric. I would not easily say the same about Smith Barney (but not necessarily true of all brokers there either).
At a big firm, you always have the most interest in your capital. They have the most interest in commission/profit on your capital.
Find the right person, do not rely on the name of the firm. Her character will go wherever she does, good, bad or indifferent.

DILLIGAF
10-16-2007, 09:48 AM
Fired SB many years ago. Use an independant that has a vested interest in your investments going up. Not one that is commission driven. If you have over $100K in your fund and want a good guy to handle it for you PM me and I will send you some contact info.

HM
10-16-2007, 10:30 AM
Fired SB many years ago. Use an independant that has a vested interest in your investments going up. Not one that is commission driven. If you have over $100K in your fund and want a good guy to handle it for you PM me and I will send you some contact info.
Yes....a fee based advisor is a great alternative. They don't make any commissions up front, they make a management fee that can range from .5% to 2% (depending on the account type and the advisor) or they can charge an upfront fee. Also, fee based advisors (Registered Investment Advisor Representative working for a Registered Investment Advisor firm) are usually independent and can get you into all the same funds and investments as the Smith Barney type of firms and a whole selection of other investments/accounts that the other guys can't. And because they don't make any upfront commissions and usually make the same amount regardless of what they put you in (with some exceptions if they sell fixed life insurance/annuities) they will usually give you great unbiased advice/options that is in YOUR best interest, not theirs. And they get paid more if you make money and less if you lose.
I am a fee based advisor and have Fidelity as a resource. Not spamming here as I am not taking any new clients at this time. But it was a major decision for me on whether to be an Investment Advisor or to go hang my license with a broker dealer. I do a lot of creative strategies and like being independent as my loyalty is to my clients.

highvoltagehands
10-16-2007, 10:48 AM
My broker just moved from AG Edwards to Smith Barney. I like her but like my money more. Anyone familiar with Smith Barney?
BTW: She's been gone for 4 days now and not even a call from AG Edwards about her leaving and she was a VP handing my account. I sign on my web page and her name is gone from my account. WTF how about a heads up. :mad:
I had SB Mutual funds, which have became Legg Mason funds after being bought out. I did'nt think SB still operated under it's own name since the "after hours trading" scandal? Good luck.