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Tim:
Your post was most enlightening. What does Brown chage on limit orders and how
are your fills on NASDAQ limit orders?
What has your back office experience been on getting Brown to correct its own
errors. I have long been tempted to open an account at Brown, but have always
held off because of the torrent of negative comments on the net about Brown's
supposedly arrogant and hostile attitude towards customers.
So your input on these issues would greatly be appreciated.
CMA
From: "Tim Lumley" <tlmly@xxxxxxxx>
Subject: RE: Brokerage alternatives
I have used Brown for a couple of years now and they are my favorite of the
6 or 7 I've used for various accounts. Good executions and very quick
confirmations. I often will see my order go off on the Time & Sales
streamer and the confirmation will be there as soon as I can get to the
Brown web site.
I have heard gripes about service before, but I don't recall any problems.
Had there been any, they would have made up for them today when the GP
specialist tried to mess with me. I had a 3,000 share limit sell order on
GP at Brown for 39 1/4. I saw the first print @39 1/4 was for 1,000 shares
and it was immediately followed by several large trades around 39 3/4.
Within about 90 seconds, the stock then quickly settled back to 39 1/4 and I
got a confirmation of all 3,000 shares filling @ 39 1/4. I called Brown and
told them what had happened and said the 39 3/4 trades should not have gone
off before mine. To make a long story short, they went back to the
specialist and got 2,000 of the 3,000 shares adjusted to 39 3/4 netting me
an extra $1,000. Don't know if other brokers I've used would have done the
same thing, but the Brown rep could not have been more helpful.
TGL
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