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User Topic: Best stock broker for 80-something yo woman?
Nature_Girl
Member
Member # 32554
Default  Posted: 2:52 PM, October 14th (Monday)

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.


Me = BS (Stay-at-home-mom)
Him = EX-d out (abusive troglodyte NPD SA)
3 tween-aged kids
Together 20 years
D-Day: Memorial Weekend 2011
2013 - I DIVORCED HIM, I'M FREE!
http://www.youtube.com/watch?v=RBOJpIwF47Y

Posts: 9491 | Registered: Jun 2011 | From: USA
Whalers11
Member
Member # 27544
Default  Posted: 3:43 PM, October 14th (Monday)

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?


Me: BGF - 33
Together 11+ years - not married, no children.
D-Day: 2/9/2010
OC Born: 10/9/2010
Status: He chose OW/OC and left immediately.

Posts: 2214 | Registered: Feb 2010
Nature_Girl
Member
Member # 32554
Default  Posted: 4:08 PM, October 14th (Monday)

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


Me = BS (Stay-at-home-mom)
Him = EX-d out (abusive troglodyte NPD SA)
3 tween-aged kids
Together 20 years
D-Day: Memorial Weekend 2011
2013 - I DIVORCED HIM, I'M FREE!
http://www.youtube.com/watch?v=RBOJpIwF47Y

Posts: 9491 | Registered: Jun 2011 | From: USA
woundedwidow
Member
Member # 36869
Default  Posted: 4:23 PM, October 14th (Monday)

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.


Be careful what you wish for the most - you may get it.

Posts: 370 | Registered: Sep 2012 | From: VA
Whalers11
Member
Member # 27544
Default  Posted: 4:56 PM, October 14th (Monday)

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).


Me: BGF - 33
Together 11+ years - not married, no children.
D-Day: 2/9/2010
OC Born: 10/9/2010
Status: He chose OW/OC and left immediately.

Posts: 2214 | Registered: Feb 2010
Nature_Girl
Member
Member # 32554
Default  Posted: 6:13 PM, October 14th (Monday)

We are.


Me = BS (Stay-at-home-mom)
Him = EX-d out (abusive troglodyte NPD SA)
3 tween-aged kids
Together 20 years
D-Day: Memorial Weekend 2011
2013 - I DIVORCED HIM, I'M FREE!
http://www.youtube.com/watch?v=RBOJpIwF47Y

Posts: 9491 | Registered: Jun 2011 | From: USA
Topic Posts: 6