Broker Detective Blog

January 30, 2009

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Charles Scwab Trading Platform ..screwed up this week again

Filed under: Investing — admin @ 10:38 pm

Here is customer service email regarding Charles Schwab trading platform which is defective

be sure to double check your records to make sure what is in you acct matches your paper records..This is also a good lesson why you should keep paper notes of what you are doing so that you do not have to rely on questionable data feeds from defective databases


Charles Schwab

Important information about a reporting error in your Schwab account.

Re: Account ending in (123)
We’re writing to let you know that due to a system error, a trade(s) you made on Wednesday, January 28, 2009, may appear twice in your Schwab account listed above. However, the duplicate trade(s) was a reporting error only, and only your initial trade(s) was executed.

We’re correcting the reporting error, and appreciate your patience. We strive to meet the highest standards of accuracy in account transactions, and we apologize for any inconvenience this error may cause.

What this means for your account.

Please note that no funds related to the duplicate trade(s) actually moved into or out of your account. However, if you view your account online, your account balance, position and transaction data will appear incorrect until the reporting error is corrected.

If you haven’t already, you’ll receive a confirmation for the original trade(s) placed on January 28, 2009. You’ll also receive a confirmation for the erroneously reported duplicate trade(s), and a cancellation confirmation once it’s been corrected. You can also view the confirmations online in your account history.

Your next steps.

There’s no need for you to take any action at this time regarding the erroneously reported trade(s) or your account balance. If you have any questions or encounter any difficulties with your account, please call us at 1-800-435-4000. If you work with a Financial Consultant, you can also call him or her directly. If you are calling from outside the United States, please call +1-415-667-8400.

Again, we apologize for any inconvenience, and look forward to serving you in the future.

Sincerely,

Brian McDonald

Vice President, Charles Schwab

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I want to sue my mortgage broker, is there a lawyer in the house?

Filed under: Uncategorized — admin @ 3:34 am
Neenah asked:


My credit scores before I purchased my home were 620,650 and 570. At this rate I believe I should’ve had a better rate than what I got. I’m 100 percent sure that my broker got over on me because his fee is not stated on my HUD form.

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The Stock Market Crash?

Filed under: Uncategorized — admin @ 12:24 am
In Trouble asked:


1. In the autumn of 1929, a wave of panic selling gripped the stock market as a result of
(1 point)
a sudden fall in stock prices.
corruption among stockbrokers.
business failures.
government limits on speculation.
2. The collapse of the American economic system (1 point)
affected only the German economy.
boosted American investment in Europe.
led to a worldwide depression.
increased demand for American-made goods.
3. One of the underlying causes of the Great Depression was the United States’s (1 point)
lack of farmers.
lack of speculators.
unstable government.
unstable economy.
4. Not long after Black Tuesday, the stock market crash was affecting (1 point)
only those who had invested heavily in stocks.
wealthy industrialists almost exclusively.
millions of Americans, many of whom had never owned stocks.
mainly stockbrokers and banks.

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January 29, 2009

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Does my FICA contributions MY retirement money? Or for current old people?

Filed under: Uncategorized — admin @ 4:34 pm
Tammy asked:


My employer takes alot of money out of my paycheck for FICA!

What happens to that money when I reach the retirement age? Can I get it ALL back at age 68? Or do I have to qualify for my own money?

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Can I change my IRA over to another company IRA without penalty?

Filed under: Uncategorized — admin @ 4:06 pm
James B asked:


I have an IRA that is wrong for me. I am recently divorced and my idea of investing in different from my ex spouse’s. I want to invest more aggresively. Can I rollover my old IRA into one in a different company without any financial penalty?

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Trade platform screws up at Charles Schwab

Filed under: Uncategorized — admin @ 3:53 pm

Yesterday Jan 28 2009,Charles Schwab had a problem with it’s trading platform.This caused trades to be duplicated.The customer service representatives said the problem would be corrected by 9:30 am est thursday but this was not done.In addition, because of the eroneous trade acct balances are inacurate.This can cause big problems including margin calls as these “phantom trades” are incorporated into acct buying power balances.Be sure to call Charles Schwab today and demand they cover any losses that result.and keep good records of any losses to document it.Charles Schwab has had many problems with it’s antique trading platform and has not fixed these issues..so customers should not stand for excuses.I have complained for 8 yrs about various defects in their trading platform “street smart pro” which is neither smart nor pro.Just a heads up to check your accounting from wed. and do not rely on Charles Schwab…

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Confused. Separeted from wife and getting mixed signals – why?

Filed under: Uncategorized — admin @ 3:44 pm
skydog262 asked:


My wife and I separated three months ago. She lives four blocks away and I have seen her about four times. The last we spoke, she said to just go ahead and file for divorce. I tried to talk her out of it for weeks. Finally, I got a lawyer and got the complaint for divorce written up. I called to ask her for her soc. sec. #, and she said she wouldn’t give it. She ended up coming over that afternoon. I told her I still loved her, but I could not handle this situation – not moving forward. She then came over on the weekend, and we worked in my yard, and then we went out. We kissed a couple of times. I told her I loved her, and she said she didn’t like me very much (ouch). She left because we had a fight, a verbal one, where she gave as good as she got. I think she just wanted an excuse to leave. Also, it was right after I bought a house in her area, by her family, but an hour from my job. I was effectively stuck. So, she has been back, but she doesn’t seem to be any closer to me than before. I am confused by this. She still wants to take time (her parents separated for nine months and I don’t know if she is following their plan). I have mentally prepared myself for divorce, but we had a great time hanging out this past weekend. She doesn’t like talking about the heavy stuff – ever. What is she up to? I feel like I am being punished for a fight we both participated in. She rips on me a lot too. Others think, including my counselor, she just wants the security of my job with insurance and is too messed up for this relationship. I dunno. Am I getting played?

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What do you think is the best investment right now for the stock market?

Filed under: Investing — admin @ 1:10 am
vintage asked:


My husband recently invested in Ford b.c. the cost of shares are down. What do you think the best think to invest in the stock market right now is?

Reason I ask is I am thinking of investing a little myself and I am curious what you shares you think are sure to go up in the future.

Thanks.

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January 28, 2009

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I want to sue my Mortgage Broker. What are my chances of finding a lawyer that will represent me and winning?

Filed under: Uncategorized — admin @ 11:40 pm
Monica P asked:


My mortgage broker withheld information that my interest only amount was a teaser rate. After 3 months, went from 2400.00 month to 4100.00. Unreachable. Now in horrible situation, can’t refinance – no equity in this market. He also misrepresented our income and called it “stated”. We did sign the papers but didn’t notice what he had put down as our income. Was almost double. Isn’t there anything we can do?

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Are there any wrong places to put an IRA after you are 55 years of age?

Filed under: Uncategorized — admin @ 11:25 am
desertflower asked:


Example Can I give it to a relative to hold onto it for me?

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