To PRIME or Not To Prime, That is the Question?

Discussion in 'Retail Brokers' started by mahram, Jun 13, 2005.

  1. I have alot of brokerage accounts, and its been a real hassle lately just to log into all of the acccounts. I get tons of statement letters every month, and its just been getting crazy. I was really considering switching to a prime account, and consolidate all of my accounts, and my managed accounts into one single firm, but still be able to trade with all the brokerages, and brokers I deal with. However, is the cost worth it, is it worth locking up with one prime broker or just to stick it out? Any opinions.
  2. Personally I think sticking it out is worth the hassle. But I'm no expert or anything.
  3. If you do want to make things easier and prime with someone you can still trade away via a DVP account. You can prime with one of the big boys or an IB to them and it looks great for someone like you who runs managed accounts. And like I said if you want to trade away to pay for an idea or whatever open a DVP account ( one or two forms with delivery instructions) and you will only pay an extra 15 or 25 bucks for a DVP ticket charge. Hope that helps.