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Best stock broker for 80-something yo woman?

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Nature_Girl posted 10/14/2013 14:52 PM

Would anyone here care to recommend who they think would be the best stock broker to manage a portfolio for my mother, an 80-something year old woman? I am 1,000 miles away, I cannot manage it for her. Would a discount broker be best? She won't be doing much buying & selling anymore. Frankly, none, really, other than liquidating things slowly as her financial needs arise.

Charles Schwab?
Wells Fargo?

It needs to be a brick & mortar place, not online.

Whalers11 posted 10/14/2013 15:43 PM

Do you want someone to truly "manage" the portfolio, i.e. make recommendations and change investments as needed? Or do you want someone to just hold the portfolio and liquidate assets as requested?

Nature_Girl posted 10/14/2013 16:08 PM

Mostly just hold & make appropriate trades/liquidations as necessary. So, minimal management, but some.

woundedwidow posted 10/14/2013 16:23 PM

My Mom had Merrill Lynch until she died in January at age 94. Basically they managed her stock and bond accounts that my stepdad left her; she never touched them, but they were always kind of "back-up" funds if we needed them for her assisted-living care.

Whalers11 posted 10/14/2013 16:56 PM

You'd probably be fine going with a discount brokerage, but don't expect a high level of service. They make their money through transactions and if there is not going to be a large volume of transactions, it won't get much attention (unless we're talking large - million dollar - balances).

Nature_Girl posted 10/14/2013 18:13 PM

We are.

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