11-05-2015, 01:03 AM
(11-04-2015, 03:25 PM)ExDripper Wrote: Again, my reason for posting was not to slam the broker, but caution people to check their accounts to make sure the settings were what they intended. I am satisfied that my account has been corrected and realize the customer service reps have zero control over these system problems, but are the ones bearing the brunt of responsibility for satisfying customers and fixing them.
That's frustrating. If the trades you wanted weren't performed as requested, I'd send a comment to the SEC and cc them a copy. I had been using email to change dividend reinvestment settings at TDAmeritrade and somehow the DRIP settings for one of my wife's stock was not changed to reinvest before the dividend was paid. After I brought it to their attention with copies of the emails and timestamps and asked them to make it right, they went back 3 weeks later and fixed it at the correct amount and with the dividend reinvesting at a price several dollars lower than it was currently trading at. Finally (!), they updated the software to allow customers to set the DRIP settings individually. Haven't had a problem since but now I'll be watching.
In the end, the brokerage is supposed to do what you directed them to do.
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“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan
“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan