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I'm trying to get ahead of the personal fast market that will crush me when ToS becomes Schwab. I'm not a HUGE ToS fan but there are a few items that I really have become accustomed to. Are there any people on FIO using Schwab StreetSmart Edge that could help navigate the transition?
Cross posted in journal thread
-Dan
Can you help answer these questions from other members on NexusFi?
I spoke with a rep last week who said that he doubts anything will change with TOS this year. For what its worth, I downloaded Streetsmart edge and found it completely unsuitable for anything other than managing investment positions, which you could just as easily do through the website.
It would seem to me that the ToS platform is the second "get" in the deal...the first being management of our assets. If I were Schwab I would add the few super features of their very retail StreetSmart Edge to ToS and leave well enough alone. ToS is far superior for traders....to the point that I'd say the current Schwab offering that I am aware of is completely unsuitable. Perhaps the merged company will offer two...but that is doubtful. My fear is that without transactional revenues the transaction engine platform will be de-emphasized.
ToS people and Schwab people both say the merger is a long way off and that all the changes will be enhancements and beneficial. We can only hope that "trading" is still a niche for someone. I was afraid that zero commissions would kill us eventually.
We do have some time to figure it out. Maybe "traders" that need a robust analysis platform will have to pay for the platform...like if you use NT and clear IB. I don't mind reasonable expense and I think that is the way its heading. Analytics will be seperate from brokerage.
But there will still be transactional income on non-stock trading. I don't know how much this will matter to Schwab -- depends on what part of their income the non-stock side would be.
No idea about that.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
