I converted my IRA to Roth. This broker did not report it to IRS. I reported it myself as my conscience did not allow me to cheat (even I'm no church-goer). This broker is for wealthy clients (not competing for retail investors). They asked me whether I bought the stock because of their research (if it does, they charge more I guess). They do have connections, so you can buy IPO stocks and sell at the end of the day. It makes money most of the time. Why I used their service? My in-law was the financial planner there.
(commission free with a good size deposit) I find they have more times I
do not get the stock when it falls below my ask price and vice versa
for the sell. My regular broker always gives me better trades. It seems
I'm penny smart and pound foolish. I'm moving my account to my regular
broker. Do you folks have this problem?