WellsTrade & Wells PMA account

[norcaltransplant]

Anyone use Wellstrade as their primary brokerage account? I have an old IRA through Wachovia, now Wells Fargo. My current brokerage account is with Bank of America but they raised the capital requirements from 25 to 50k to execute free monthly trade, plus BofA added a quarterly maintanence fee of $25. Given this screwing following the "upgrade" to Merril Lynch investment services, I was looking at parking my "fun" money elsewhere.

I've already browsed Bogleheads on my day off, but was searching for other opinions.

 

[WallStPeon]

Move your Bank of America account to Merrill Edge...you can go to the self-directed portion of it and not advisory, which means you'll pay a lot lower account fees and less commissions - think Schwab. Wells Fargo brokerage accounts tend to be more limited in terms of types of mutual funds you can buy due to selling agreements with the fund companies, at least in my experience. Not terrible, but to be honest, the account fees aren't going to be all that different at Wells.

 

[mkarim]

Originally Posted by norcaltransplant

Anyone use Wellstrade as their primary brokerage account? I have an old IRA through Wachovia, now Wells Fargo. My current brokerage account is with Bank of America but they raised the capital requirements from 25 to 50k to execute free monthly trade, plus BofA added a quarterly maintanence fee of $25. Given this screwing following the "upgrade" to Merril Lynch investment services, I was looking at parking my "fun" money elsewhere.

I've already browsed Bogleheads on my day off, but was searching for other opinions.

I opened a PMA account at Wells and am thinking of moving my Roth IRA account to them from Ameritrade. They give 100 free trades a year for PMA account holders.

Good idea or should I stay put at Ameritrade?