[JCISLO]

I have two bond portfolios. I was surprised to find out that one bond portfolio at the bank is charging me 600-700 a month for those bonds? However, the other investment firm has no charges on the bonds. I don't know what their charges are on the rest of the portfolio though. They said they get the bonds at a deal and that covers all service expenses incurred. I

I just invested at the bank and the lady worked me hard to get my money invested there but now I feel like I'm wasting my money there. Should I transfer those bonds to the investment company where they say they do not charge for the bonds? I guess I thought all institutions charged for their work--but it is hard to see their charges? What would you do? Trust the investment company and move the bonds to obviously save money and hope they are not charging me. It's hard to know who to trust and what's really going on.

[ebaines]

If they are charging you $600/month you must have quite a bit of money invested in these bonds, which means you ought to have enough clout to get a free account. For a plain brokerage account you may qualify for a free account at an investment house like Schwab or Fidelity, and perhaps even at a more traditional "full-service" investment house like Merrill Lynch or Smith Barney. In any event you shouldn't be paying more than $10/month, tops, per account. I wonder if they have you in some sort of managed account, which are when a money manager makes investments on your behalf - these typically charge 1% plus, depending on the assets under management.

Ask your bank lots of questions. If you don't understand what they are saying, ask again, and if that doesn't work tell them you are taking your money out - that should get some attention. Do not be at all embarrassed to ask questions - if they can't explain what's going on clearly that's their fault, not yours!