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I too was a trusting Intrust victim, but now that Millenium has taken it
over, it doesn't strike me as likely that lightning (theft) will strike
twice in the same place - to many chastened regulators will be watching. If
the judge will just settle the receivership, I suspect Millenium will be
leaning over backward to keep their old customers and attract new ones.
Maybe it will turn out to be a good place to have an IRA-futures account?
Regards,
Jim Alvis
----- Original Message -----
From: "Jim Johnson" <jejohn@xxxxxxxxx>
To: "Scott Hoffman" <trader20@xxxxxxxxxx>
Cc: <omega-list@xxxxxxxxxx>
Sent: Monday, April 16, 2001 2:29 PM
Subject: Re: futures in IRA
> I've used InTrust, now Millenium, for a while (ouch!) and there has
> never been a fee as described. And I've set up futures, stock and
> partnership accounts thru them. And funds don't get transferred every
> day. In fact, InTrusts's systems are so bad that they did well to
> update account balances from my brokerage accounts every 3 months.
>
>
>
> Best regards,
> Jim Johnson
>
> Monday, April 16, 2001, 1:33:09 PM, you wrote:
>
>
> SH> Unless there was a margin call, I don't see why there would have to be
funds
> SH> transfered between the trust account and the brokerage account every
day.
>
> SH> Just to be clear, I believe Intrust only charged fees for transactions
> SH> involving money moving in and out of the trust account, not for every
> SH> transaction (trade) in the brokerage account.
>
> SH> SH
> >> Be aware of their fee structure before signing on the dotted line.
> >> Intrust (no longer in business) charged a fee for every transaction and
> >> every wire from the trust company to the futures broker. Because
futures
> >> are marked to market each day, it was a rare day when a wire was not
sent
> SH> or
> >> received.
> >>
>
>
>
> --
> mailto:jejohn@xxxxxxxxx
>
>
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