Re: persfin-digest V5 #36

From: balaji@juno.com (balaji v ramanathan)
Subject: Re: persfin-digest V5 #36
Date: Thu, 23 Jul 1998 23:39:15 EDT

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>       Mutual funds Supermarkets

>- - do they allow existing shares to be transferred in?

	Fidelity will.  You have to fill out a special form for
it.  It may take a while for the transfer to take place and I have
heard some horror stories about botched transfers.  If it is not
too big a position, it may be less hassles to sell it and take
the cash to the supermarket.

>- - if  a fund or family is a transaction fee in one supermarket is it 
>
>   necessarily a transaction fee in all supermarkets?

	No.  I know that Schwab has some NTF funds that are not
NTF with Fidelity and vice versa.  I used to have accounts with
both before Schwab pissed me off so much I closed my account with
them and took my whole business to Fidelity.

>- - the couple that I've looked at have a fixed fee per transaction, 
>are
>there any
>   supermarkets that are friendlier to DCA (dollar cost averaging)?

	I think you should look for a supermarket in which the particular
fund you want to DCA into is NTF.  Some supermarkets may waive
transaction fees to help out regular investors, but you will have
to ask around.

>- - which supermarkets will do DCA for your account automatically?

	Practically every supermarket should allow for automatic
money transfers from your checking (or savings) account into their
"core" account and then use the funds in the core account to buy
the mutual funds you designate.  Schwab and Fidelity had no problems
setting up such arrangements with me.

>
>kmealy@bigfoot.com
>Cincinnati, OH

bye/balaji/

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