Word: brokering
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...BASHFUL. What if your broker still tries to nudge you into B or C shares? Remind him that he is required by investing regulators to show you--with real numbers--why that choice would be in your best interest, not just...
Most investors would be better off in no-load index funds, which charge no sales commission and cut the costs of investing to the bone. But if you work with a broker for investing guidance, as millions do, you can't expect her to work for free, so a no-load index fund won't be on the menu. Unfortunately, with many brokers, the menu is dominated by that funky alphabet soup. A shares carry a sales charge, typically 4.5% to 5.75%, that you pay your broker when you buy. B shares charge nothing when you buy but nick...
Sadly, you can't always rely on your broker to make the best choices for you. In a new survey by business professors Michael Jones and Vance Lesseig of the University of Tennessee at Chattanooga and Thomas Smythe of Furman University, just over half of the 530 brokers queried said they would recommend B shares for short-term investors, while 53% favored B and C shares for clients with more than $25,000 to invest. Smythe calls this "very disturbing evidence" that brokers are either as fee-befuddled as their clients--or blatantly self-serving. I call it proof that...
PUSH FOR DISCOUNTS. Find out how much you must invest to qualify for a fund's breakpoint. Visit the company's website, and have your broker show you the "sales charges" section of the fund's Statement of Additional Information (SAI). If you already own the same fund in your 401(k) or IRA, that money may count toward the cut rate. If other members of your family hold funds from the same company--or plan to do so over the next 12 months--you could qualify for a discount on a fund's A shares...
...pursue that goal right now, but urges that its scope and powers be expanded, and that Iraqis be given more opportunity to choose their own leaders. De Mello has already played a major, if discreet, role in helping Bremer create the Governing Council. He reportedly serves as an honest broker between Bremer and constituencies in and around Iraq to which he has no access because of suspicion and hostility towards the U.S. De Mello, for example, reportedly played the major role in persuading some of the key Shiite parties to join the Council - and also in persuading Bremer to grant...