E*Trade

I have recently opened an account with them after getting some advice from a friend. You know, retirement, saving up money, investing, nest egg, etc etc.

Well, on Monday the company lost half of its value. Normally I would not care, but at work we are rolling over our retirements accounts into IRA’s and I am obligated to open an account so that I do not get penalized by what I have been able to save.

My immediate course of action was to get some advise on what type of IRA to open, thus I called my worksplace broker (Wachovia Securities) and they pointed me out the troubles that E*Trade was going through. I followed up the call with some reading and research and some a “Closing Bell” interview with the firms COO.

I decided to stay with E*Trade. The Wachovia people (one in particular) sounded to negative and to me is was too much of a bashing on E*Trade than sound advice. Another factor is that they might not be in such hot water afterall. The stock has been slowly gaining value and the company might be acquired.

For now I will stick to E*Trade.

Any advisors out there, please feel free to give me some advice. I will listen, research and maybe follow up on it.

Thank you,

JH


About this entry