FlyerTalk Forums - View Single Post - ETRADE or Ameritrade?

Nov 7, 2002 | 4:24 pm

#21

swag

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And while we're *****ing about brokerages, I got a note from Waterhouse today. As a result of the spinnoff from Citi, I have odd lots (less than 100 shares) of both Travelers A and Travelers B. Travelers is trying to cut costs from having lots of small holders, so they've issued a tender offer to buy up the odd lots from folks who have them but haven't sold because they don't want to pay commissions.

The problem - if I accept the offer, Waterhouse will charge me a $25 "reorganization" fee. That's more than the commission would be if I just sold myself! So what's the d*** point?

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