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From: mazlack@ernie.BERKELEY.EDU (Lawrence J. &)
Newsgroups: net.invest
Subject: Re: Stockbroker costs
Message-ID: <11166@ucbvax.BERKELEY.EDU>
Date: Fri, 6-Dec-85 16:07:44 EST
Article-I.D.: ucbvax.11166
Posted: Fri Dec  6 16:07:44 1985
Date-Received: Sat, 7-Dec-85 20:19:44 EST
Sender: usenet@ucbvax.BERKELEY.EDU
Reply-To: mazlack@ernie.UUCP (Lawrence J. Mazlack)
Distribution: net
Organization: University of California, Berkeley
Lines: 31

COST OF INVESTING (developed from information in Wall Street Journal, 2 Dec 85)

Brokerage            Rate Structure            Cost for 100 shares ($10-30)
---------            ---------------------     ----------------------------
Security Pacific     Transaction Value         $36
Fidelity Brokerage   Transaction Value         $30
Pacific Brokerage    Number of Shares          $25 (0-300 shares)
Spear Securities     Value + Number            $35
Rose                 Value + Number            $25 ($20 + 0.05 sh to 5,000 sh)
Quick & Reilly       Value + Number            $35
Schwab               Transaction Value         $34
Whitehall Securities Number of Shares          $12.50 ($0.125 a share)
Kennedy and Cabot    Number of Shares          $35 ($30 for less than 100)

                                                Unless otherwise noted, these
                                                are minimum chareges.

Note: The cost for 100 shares is, for the brokers using value as part of the
      cost basis, the brokers minimum charge. For most of the brokers, the
      charge will not go over the minimum charge untill the share price exceeds
      $30.

ALTHOUGH I USE DISCOUNT BROKERS TO HANDLE 90% OF MY TRADES, I STRONGLY
RECOMMEND THAT YOU CONSIDER QUESTIONS OF EXECUTION QUALITY AND BOOK KEEPING
QUALITY AS WELL AS BROKER COSTS WHEN SELECTING A BROKER.

Larry Mazlack
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