Wednesday, November 17, 2010

List of Broker Dealers of Future Investors

Preface: I appreciate the emails asking "when will you launch"?  Answer: The last leg is OUT of my hands.  When the SEC approval is final, I will be up and running.  Hence I will NOT have an exact answer for you go forward.  If it was just me turning on a light, and saying "I'm open" it would be different, but it is not.

I will be launching the fund family website in the next week, so everyone will have the fund name and the new website.   But again, there is no fund, nor a symbol, nor anything but a blank slate until SEC approval process is complete.

Here is the final decision on purchases and redemptions by the way

Initial Regular Account $2500
Additional Regular $100
Initial IRA $1000
Additional IRA $100

Redemption Fee 2% for any purchases not held for 180 days, otherwise 0%


I asked a few months ago for a list of any potential brokers that future investors will be using to potentially invest in the fund to see if the fund will be available on that platform.  I have had trouble getting answers but it appears there is a lot of flux in the broker dealer platforms as they are changing their stance quite often, so until we got close to launch there was not much reason to do the legwork as the answer could change a month later.  That said since we are getting closer I want to give them the updated list to get answers (finally).

Of course if one chooses not to use a broker, one can open a direct account with the fund itself.

To review

Yes - Etrade, TDAmeritrade, Scottrade

No - due to onerous fee structure to get listed on their supermarkets* - Fidelity, Schwab 

No - due to not accepting small mutual funds sub $20M in assets - Wells Fargo

List of brokerages readers have asked me about and I will be working on getting a "yes" or "no" on - if you have a brokerage I missed that needs to go on this list, email me (my email is in the upper right of this page)

Interactive Brokers
Think or Swim
Scotia McLeod (part of Scotia Bank in Canada)
ScotiaTrade in Canada (used to be Etrade)
Bank of America

TDWaterhouse (in Canada)

*One day if there is tremendous demand for the fund by investors who ask Fidelity or Schwab enough times for said fund to be listed on their supermarket, then perhaps those companies would come to me and negotiate more reasonable terms and I'd be happy to list the fund there.  Otherwise their terms are untenable for a small independent.


If anyone has some skill set on making a nice graphical banner ad, I'd like to place a banner ad above the "text" area on this site as a permanent marker for the next XYZ weeks so new readers can click on the banner and go to the new fund website to get more information.  If you have some time and know how, and would like to help, please email me.


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