I'd love to get feedback from some investment clubs on the following: What method of stock purchase does your club use -- DRIPs? A low-cost broker? A full-service broker? And is your club happy with its choice?

Our club uses Scottrade. The trades are reasonable and if we decide to switch to another broker, no account closing fees. Some firms charge up to $50 just to close an account.

Richard

Women Take Stock uses TD Ameritrade.  They reinvest dividends with no charge and we have switched all our company-sponsored reinvestments to them.

Ever since the merger they have given my co-treasurer "fits" but hopefully 2008 will be better.

NB

Nancy,

Thanks for the tip on TD Ameritrade. Can you give me a few more specifics about the "fits" the merger has given your co-treasurer? I'll be offering tips for club treasurers in an upcoming column and would love to address yours, if appropriate.

Amy

My club, Common Wealth Investment Group, uses TDAmeritrade.  We got there through the various mergers, but I have been very satisfied with them (I'm treasurer our our 13 year old club).  I like the fact that it interacts with Bivio and as transactions are posted in our TDAmeritrade account, they are automatically posted in our Bivio accounting. I have never had any problems with TDAmeritade and our buys and sells are executed very, very quickly.

Henri Russell