web analytics
a

Facebook

Twitter

Copyright 2015 Libero Themes.
All Rights Reserved.

8:30 - 6:00

Our Office Hours Mon. - Fri.

703-406-7616

Call For Free 15/M Consultation

Facebook

Twitter

Search
Menu
Westlake Legal Group > News Releases (Page 96)

Yes, You Can Get Free Trading. But There’s Often a Catch.

Westlake Legal Group 29money-facebookJumbo Yes, You Can Get Free Trading. But There’s Often a Catch. TD Ameritrade Holding Corp. Stocks and Bonds Personal Finances Financial Planners Fidelity Investments Charles Schwab Corporation Banking and Financial Institutions

Investing is cheaper than ever. Trading is free, some index funds may as well be, and a diversified portfolio can be built by machines for a fraction of the cost of live professionals who deliver advice in an elegant leather binder.

In the space of a few days last month, the price war among the brokerage firms pushed the cost for many trades to nothing at Charles Schwab, TD Ameritrade, E-Trade and Fidelity. Then, this week, Schwab said it would acquire Ameritrade for $26 billion — a deal that demonstrated the importance of market share in an era of cheap investing.

But low-cost investing isn’t always as cheap as it appears. Many companies, in stamping out certain fees, are doing other things that can cost you money — and it’s up to you, dear investor, to figure out what they are.

Each firm’s policies differ, but here are helpful places to look: the way your brokerage uses your cash holdings; the costs of other services it offers; and how it might be profiting off your free trades by getting someone else to pay for them instead.

Over the past decade, online brokerages and wealth management firms have started to make more money off customer cash — money that hasn’t been invested yet, for example — by sweeping it into lower-yielding deposit accounts instead of higher-yielding money market funds, said Michael Wong, director of financial services equity research at Morningstar.

Schwab, for example, will pay you a meager 0.06 to 0.45 percent of your assets, while investing it at roughly 2.65 percent, and pocketing the difference, he said. Cash holdings might earn nearly 2 percent elsewhere.

And that has paid off for the company: Net interest revenue made up nearly 60 percent of Schwab’s overall revenue last year. TD Ameritrade and E-Trade have similarly leaned on interest income, which represented more than half of each firm’s revenue last year.

Fidelity, which has a giant 401(k) business, doesn’t rely as heavily on interest — and earlier this year, it said all of its retail accounts’ idle cash would be swept into higher-yielding money market accounts. Vanguard does the same thing.

So yes, free trading is a nice little perk — but you’re most likely paying for it in the form of lower returns on the cash your broker is holding.

And free trades might not even be worth that much to you. Few enlightened investors are chasing hot stocks anymore; they’re buying and holding a diversified mix of index funds to help them pay for big life events like college and retirement. (Index funds are basic mutual funds that track wide swaths of the stock market.)

The big brokerage firms know this, and many of them have followed the lead of smaller, upstart firms like Betterment, which are known as roboadvisers, to provide mass-manufactured digital portfolios that operate largely on autopilot, and cost very little.

Schwab introduced its own digital investment service in 2015, and tried to one-up its competitors by making its service “free.” But there was a catch.

Many roboadvisers typically charge an overall fee — say roughly 0.30 to 0.50 percent of a customer’s assets annually — along with the (usually very low) underlying cost of the investments. Schwab omitted that overall fee, charging just the cost of the underlying funds.

But investors must keep anywhere from 6 percent to 29 percent of their portfolio in cash, which currently pays 0.45 percent, according to a Schwab spokesman. Schwab earns more money the bigger the allocation is.

In 2017, Schwab added a premium service for those with at least $25,000 in assets, which includes help from a human certified financial planner: That now costs $30 a month, plus a one-time initial $300 fee, along with the costs of investments. And it also requires the high cash component.

Even with a commission-free trading structure, said Greg McBride, chief financial analyst at Bankrate.com, “there are other revenue levers behind the scenes that brokers can pull.”

For example, brokers receive payments from technologically savvy wholesale brokerages that buy the right to execute retail trades.

The practice, known as “payment for order flow,” is widespread among online brokerage firms. (Fidelity and Vanguard say they do not accept such payments.) Critics say the practice creates a conflict of interest for brokers, who have an obligation to find the best price for customer orders. The Securities and Exchange Commission has said that such payments do not necessarily violate a broker’s duty to find the best prices for clients. But the commission also urges disclosure of such payments, which it acknowledges can create potential conflicts because it could mean investors lose out when stocks are purchased at higher prices.

“Reselling order flow to market makers will be an increasing focus for those firms offering free trading,” said William Trout, head of wealth management at Celent, a research and consulting firm.

The lesson here: Free trading, or any other free service, should serve as a signal for investors — you’re probably paying somewhere.

And part of the price you pay is figuring out how.

Matt Phillips contributed reporting.

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com 

Baby born at Charlotte airport after mom’s water broke midflight

Westlake Legal Group airline_istock Baby born at Charlotte airport after mom's water broke midflight fox-news/travel/general/airports fox-news/health/wellness fox-news/health/reproductive-health/pregnancy fox-news/good-news fox news fnc/health fnc dea7c6d3-22dc-52db-9d8a-037cb5d75533 article Alexandria Hein

A Florida family welcomed their newest member in surprise fashion on Wednesday after the expectant mother’s water broke during a flight to Pennsylvania to see relatives for Thanksgiving. Nereida Araujo, who was traveling with her two children and husband, wound up giving birth at Charlotte Douglas International Airport during what was supposed to be a 20-minute layover, according to WSOCTV.com.

MOM WHO NEARLY DIED AFTER GIVING BIRTH SHARES MOMENT SHE MET NEWBORN SON: ‘LUKA AND I NEEDED EACH OTHER’

“I was sleeping and I felt like a pop in my lower back,” she told the news outlet. “I just felt like liquid and I woke my husband up.”

A passenger on board was able to help the third-time mom until the airplane touched down.

‘SCI-FI’ ELECTRODE SLEEVE OFFERS HOPE FOR MILLIONS OF PARALYSIS PATIENTS

“Upon landing in Charlotte, American Airlines Flight 868 from Tampa, requested MEDICS due to a passenger who needed assistance,” American Airlines said in a statement, according to WSOCTV.com.

The baby was born shortly after 2 p.m., and both Araujo and her newborn, who they have named Lizyana Sky Taylor, were transported to a nearby hospital.

CLICK HERE TO GET THE FOX NEWS APP

“I just want to thank them so much,” Araujo told the news outlet. “Everybody was so great. They’re like my heroes. It was an experience that I will always remember.”

Westlake Legal Group airline_istock Baby born at Charlotte airport after mom's water broke midflight fox-news/travel/general/airports fox-news/health/wellness fox-news/health/reproductive-health/pregnancy fox-news/good-news fox news fnc/health fnc dea7c6d3-22dc-52db-9d8a-037cb5d75533 article Alexandria Hein   Westlake Legal Group airline_istock Baby born at Charlotte airport after mom's water broke midflight fox-news/travel/general/airports fox-news/health/wellness fox-news/health/reproductive-health/pregnancy fox-news/good-news fox news fnc/health fnc dea7c6d3-22dc-52db-9d8a-037cb5d75533 article Alexandria Hein

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com 

Yes, You Can Get Free Trading. But There’s Often a Catch.

Westlake Legal Group 29money-facebookJumbo Yes, You Can Get Free Trading. But There’s Often a Catch. TD Ameritrade Holding Corp. Stocks and Bonds Personal Finances Financial Planners Fidelity Investments Charles Schwab Corporation Banking and Financial Institutions

Investing is cheaper than ever. Trading is free, some index funds may as well be, and a diversified portfolio can be built by machines for a fraction of the cost of live professionals who deliver advice in an elegant leather binder.

In the space of a few days last month, the price war among the brokerage firms pushed the cost for many trades to nothing at Charles Schwab, TD Ameritrade, E-Trade and Fidelity. Then, this week, Schwab said it would acquire Ameritrade for $26 billion — a deal that demonstrated the importance of market share in an era of cheap investing.

But low-cost investing isn’t always as cheap as it appears. Many companies, in stamping out certain fees, are doing other things that can cost you money — and it’s up to you, dear investor, to figure out what they are.

Each firm’s policies differ, but here are helpful places to look: the way your brokerage uses your cash holdings; the costs of other services it offers; and how it might be profiting off your free trades by getting someone else to pay for them instead.

Over the past decade, online brokerages and wealth management firms have started to make more money off customer cash — money that hasn’t been invested yet, for example — by sweeping it into lower-yielding deposit accounts instead of higher-yielding money market funds, said Michael Wong, director of financial services equity research at Morningstar.

Schwab, for example, will pay you a meager 0.06 to 0.45 percent of your assets, while investing it at roughly 2.65 percent, and pocketing the difference, he said. Cash holdings might earn nearly 2 percent elsewhere.

And that has paid off for the company: Net interest revenue made up nearly 60 percent of Schwab’s overall revenue last year. TD Ameritrade and E-Trade have similarly leaned on interest income, which represented more than half of each firm’s revenue last year.

Fidelity, which has a giant 401(k) business, doesn’t rely as heavily on interest — and earlier this year, it said all of its retail accounts’ idle cash would be swept into higher-yielding money market accounts. Vanguard does the same thing.

So yes, free trading is a nice little perk — but you’re most likely paying for it in the form of lower returns on the cash your broker is holding.

And free trades might not even be worth that much to you. Few enlightened investors are chasing hot stocks anymore; they’re buying and holding a diversified mix of index funds to help them pay for big life events like college and retirement. (Index funds are basic mutual funds that track wide swaths of the stock market.)

The big brokerage firms know this, and many of them have followed the lead of smaller, upstart firms like Betterment, which are known as roboadvisers, to provide mass-manufactured digital portfolios that operate largely on autopilot, and cost very little.

Schwab introduced its own digital investment service in 2015, and tried to one-up its competitors by making its service “free.” But there was a catch.

Many roboadvisers typically charge an overall fee — say roughly 0.30 to 0.50 percent of a customer’s assets annually — along with the (usually very low) underlying cost of the investments. Schwab omitted that overall fee, charging just the cost of the underlying funds.

But investors must keep anywhere from 6 percent to 29 percent of their portfolio in cash, which currently pays 0.45 percent, according to a Schwab spokesman. Schwab earns more money the bigger the allocation is.

In 2017, Schwab added a premium service for those with at least $25,000 in assets, which includes help from a human certified financial planner: That now costs $30 a month, plus a one-time initial $300 fee, along with the costs of investments. And it also requires the high cash component.

Even with a commission-free trading structure, said Greg McBride, chief financial analyst at Bankrate.com, “there are other revenue levers behind the scenes that brokers can pull.”

For example, brokers receive payments from technologically savvy wholesale brokerages that buy the right to execute retail trades.

The practice, known as “payment for order flow,” is widespread among online brokerage firms. (Fidelity and Vanguard say they do not accept such payments.) Critics say the practice creates a conflict of interest for brokers, who have an obligation to find the best price for customer orders. The Securities and Exchange Commission has said that such payments do not necessarily violate a broker’s duty to find the best prices for clients. But the commission also urges disclosure of such payments, which it acknowledges can create potential conflicts because it could mean investors lose out when stocks are purchased at higher prices.

“Reselling order flow to market makers will be an increasing focus for those firms offering free trading,” said William Trout, head of wealth management at Celent, a research and consulting firm.

The lesson here: Free trading, or any other free service, should serve as a signal for investors — you’re probably paying somewhere.

And part of the price you pay is figuring out how.

Matt Phillips contributed reporting.

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com 

In Afghanistan, Trump Creates Confusion Over U.S. Policy on Taliban

Westlake Legal Group 29AFGHANISTAN-01-facebookJumbo In Afghanistan, Trump Creates Confusion Over U.S. Policy on Taliban Taliban Ghani, Ashraf Afghanistan War (2001- ) Afghanistan

KABUL, Afghanistan — After abruptly axing nearly a year of delicate peace talks with the Taliban in September, President Trump put the negotiations back on the front-burner this week in a similarly jolting fashion by seeming to demand a cease-fire that his negotiators had long concluded was overly ambitious.

Despite a sense of relief at the prospect of resuming talks to end the 18-year conflict, Western diplomats and Taliban leaders were scrambling to figure out whether Mr. Trump had set a new goal for negotiations. They were particularly confused by his remarks, made during a surprise Thanksgiving visit to Afghanistan, that the United States was once again meeting with the Taliban to discuss a deal, but that “we’re saying it has to be a cease-fire.”

Demanding a cease-fire would amount to a big shift in the American position and require a significant new concession from the Taliban — one that the Americans have little leverage to extract.

For much of the yearlong talks, the Taliban and the United States were fundamentally on the same page: The Taliban wanted the Americans out of Afghanistan, and Mr. Trump has made no secret his desire to end what he has called America’s unending wars. But agreeing upon the details of a deal proved complicated.

In the agreement the two sides were on the verge of finalizing before Mr. Trump pulled the plug, the best the American negotiators could get the Taliban to consent to was some reduction in violence. Discussions on a comprehensive cease-fire were relegated to future talks between the Taliban and Afghan leaders — only after the United States had pledged, and begun, to withdraw its troops.

But on Thursday, Mr. Trump suggested the Taliban position had shifted.

“They didn’t want to do a cease-fire, but now they do want to do a cease-fire, I believe,” he said. “And it will probably work out that way. And we’ll see what happens.”

The Taliban seemed surprised by Mr. Trump’s declaration. While the group’s negotiators have held informal meetings with United States diplomats in recent weeks about ways to go back to the table, on Friday their leaders said their original position on a cease-fire had not changed.

“The Americans walked away from the negotiating table, and now the ball is in their side — it is up to them to come back if they want to solve this and get the document to signing and to the stage of implementation,” Suhail Shaheen, a member of the Taliban’s negotiation team, told The New York Times. “Our positions remain the same.”

It’s unclear how American negotiators could get the Taliban to agree to a cease-fire now, when they were not able to do so earlier.

The American military has already begun scaling back its presence in the country, giving negotiators even less leverage than they had before. Last month, the top American commander in Afghanistan, Gen. Austin S. Miller, said the number of troops had been reduced by 2,000 over the past year.

Mr. Trump, on Thursday, said he was “bringing down the number of troops substantially.”

For the Afghan president, Ashraf Ghani, Mr. Trump’s statements were welcome. For months, Mr. Ghani had unsuccessfully tried to persuade the Americans not to give away an American troop withdrawal without a cease-fire because that would leave his government even more vulnerable.

The government has already been weakened by being excluded from the talks so far because the Taliban refuse to engage before an American troop withdrawal.

Now, suddenly, the American president gave Mr. Ghani’s position a boost at a difficult time for him, when he is stuck in a bitter fight over his re-election in a disputed vote, which is tipping the country to crisis.

Mr. Ghani met with Mr. Trump at the Bagram Air Field on the eve of large protests by supporters of his rival, Abdullah Abdullah. Much of the Afghan capital was under a lockdown by security forces on Friday morning as thousands marched to a roundabout behind the presidential palace demanding fraudulent votes be thrown out.

Mr. Abdullah accuses the country’s election commission of including 300,000 questionable votes in favor of Mr. Ghani.

Mr. Ghani and Mr. Abdullah are partners in a coalition government brokered by the United States when a similar disputed election between the two went to a stalemate in 2014. The current power dispute dividing the country has added to the complications of resuming the peace efforts.

The hope is that peace talks would eventually lead to direct negotiations between the Taliban and the Afghan leaders over the political future of the country after the United States commits to withdrawing its remaining troops, currently about 13,000 or fewer.

Keeping the peace process alive after Mr. Trump canceled talks in September has required quiet, delicate diplomacy, including work that resulted in a prisoner swap and some reduction in violence. Mr. Trump’s latest interjection in what has been a tedious diplomatic balancing act will once again have his negotiators scrambling to try to pull off what many Western officials have described as an unrealistic goal.

The Taliban see a cease-fire before the signing of a deal for the end of the American military presence as an existential issue. They believe they will not be able to rally their forces again if they ask their fighters to stop fighting and then the deal breaks down.

But the government of Mr. Ghani has said negotiating the future cannot happen under the barrel of a gun, demanding a cease-fire as a precondition to any talks.

When Mr. Trump called off the talks, the Taliban realized they had pushed their hand too far by continuing to launch attacks just days before what was expected to be a signing of the deal. In recent weeks, American diplomats convinced the group to significantly reduce large attacks in the Afghan capital as part of the prisoner-swap that saw the release of an American and Australian hostage in return for senior Taliban leaders.

But delivering a comprehensive, declared cease-fire is always going to be difficult internally for a movement that is trying to maintain unity as it negotiates potentially divisive issues.

One Western official aware of the latest peace developments said he had not seen a tangible shift in the Taliban’s position on a cease-fire during the period the talks were called off. The official expressed concern that if the Taliban were forced to reject Mr. Trump’s apparent demand of a cease-fire to keep their own ranks united, that could further complicate the formal resumption of the negotiations.

“There’s probably now some work for U.S. diplomats to do to clarify to the Taliban what did the imprecise words actually mean, and whether or not there is a change in position,” said Laurel Miller, a former U.S. diplomat who is now the Asia director of the think-tank International Crisis Group.

“The U.S. has been looking for something in the realm of the reduction in violence,” she added, “but the idea that the U.S. is on the same page with Ghani on cease-fire being a precondition — I don’t see that at all.”

Fatima Faizi contributed reporting.

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com 

Billy Dee Williams talks ‘Star Wars’ co-stars Harrison Ford and Carrie Fisher’s alleged affair

Billy Dee Williams shared some candid and crass thoughts about rumors of his “Star Wars” co-stars’ alleged affair ahead of reprising his role as Lando Calrissian.

The actor, 82, will return in “Star Wars: The Rise of Skywalker” for the first time since his character last appeared in “Return of the Jedi,” (Or “Solo: A Star Wars Story,” if you count Donald Glover’s portrayal). Speaking to Esquire, the actor got candid about his return to the franchise as well as rumors about Carrier Fisher and Harrison Ford having an affair on set so many years ago.

“As far as I’m concerned, I mean, I don’t care what people are — if they’re f—ing each other and they’re s—ing each other, whatever they’re doing, that’s fine with me. I don’t care,” he told the outlet.

DYING ‘STAR WARS’ FAN GETS TO SEE LATEST FILM EARLY AFTER IGER PULLED SOME STRINGS

Rumors were kicked into high gear when Fisher’s tell-all book “The Princess Diarist” hit shelves and dove into her alleged three-month affair with the actor who was 14 years her senior, married and a father of two at the time.

Westlake Legal Group StarWars1 Billy Dee Williams talks 'Star Wars' co-stars Harrison Ford and Carrie Fisher's alleged affair Tyler McCarthy fox-news/shows/star-wars fox-news/entertainment/movies fox-news/entertainment/events/couples fox-news/entertainment/celebrity-news fox-news/entertainment fox news fnc/entertainment fnc article 96c2cf99-ae22-5349-9863-02fa665345bd

Harrison Ford and Carrie Fisher on the set of “Star Wars: Episode V – The Empire Strikes Back” directed by Irvin Kershner.  (Lucasfilm/Sunset Boulevard/Corbis via Getty Images)

Fisher died in 2016. Because of that, Ford previously told GQ that he didn’t want to discuss the allegations made in her book, revealing to the outlet that he didn’t even read “The Princess Diarist.”

“Oh, I don’t know. I don’t know. You know, with Carrie’s untimely passing, I don’t really feel that it’s a subject that I want to discuss,” Ford told GQ in 2017.

‘STAR WARS’ ACTOR JOHN BOYEGA SAYS SCRIPT THAT LANDED ON EBAY WAS HIS

Williams went on to explain what he believes his character has been doing in the decades since “Return of the Jedi.”

“I always imagined Lando being like Steve Wynn, running Las Vegas. Because he’s a gambler. But he was a bit of a showman, a bit of an entrepreneur. That’s how I see Lando. I never necessarily saw him as a general running around shooting things.”

Westlake Legal Group landocalrissian1 Billy Dee Williams talks 'Star Wars' co-stars Harrison Ford and Carrie Fisher's alleged affair Tyler McCarthy fox-news/shows/star-wars fox-news/entertainment/movies fox-news/entertainment/events/couples fox-news/entertainment/celebrity-news fox-news/entertainment fox news fnc/entertainment fnc article 96c2cf99-ae22-5349-9863-02fa665345bd

Billy Dee Williams will reprise his role as Lando Calrissian in the new ‘Star Wars’ film. (Lucasfilm)

The actor also showed pride in how Lando was portrayed in the original series, noting that, although he double-crossed the film’s heroes, he was unlike anything that audiences had seen before.

CLICK HERE TO GET THE FOX NEWS APP

“What I presented on that screen people didn’t expect to see. And I deliberately presented something that nobody had experienced before: a romantic brown-skinned boy.”

Westlake Legal Group BillyDeeWilliams1 Billy Dee Williams talks 'Star Wars' co-stars Harrison Ford and Carrie Fisher's alleged affair Tyler McCarthy fox-news/shows/star-wars fox-news/entertainment/movies fox-news/entertainment/events/couples fox-news/entertainment/celebrity-news fox-news/entertainment fox news fnc/entertainment fnc article 96c2cf99-ae22-5349-9863-02fa665345bd   Westlake Legal Group BillyDeeWilliams1 Billy Dee Williams talks 'Star Wars' co-stars Harrison Ford and Carrie Fisher's alleged affair Tyler McCarthy fox-news/shows/star-wars fox-news/entertainment/movies fox-news/entertainment/events/couples fox-news/entertainment/celebrity-news fox-news/entertainment fox news fnc/entertainment fnc article 96c2cf99-ae22-5349-9863-02fa665345bd

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com 

Popeyes’ customer body-slammed in parking lot speaks out for the first time

The woman who was body-slammed outside of a Tennessee Popeyes restaurant in a now-viral video is speaking out for the first time.

Deborah Staggs, 55, is recovering after the attack by a Popeyes employee left her with a broken arm in 16 places, nine broken ribs and a shattered kneecap.

It’s the accusation that she used the N-word, however, that Staggs is most concerned about.

POPEYES VIOLENCE CONTINUES AFTER WOMAN IS BODY-SLAMMED OUTSIDE TENNESSEE RESTAURANT

Westlake Legal Group Popeyes-iStock Popeyes' customer body-slammed in parking lot speaks out for the first time Gerren Keith Gaynor fox-news/lifestyle fox-news/food-drink/food/fast-food fox news fnc/food-drink fnc article 3991b086-1871-5ec7-b9ba-180709ce9025

(Photo: iStock)

The grandmother said she never called a Popeyes worker a racial slur, which is what reportedly led up to the violent encounter earlier this month.

Despite employees recalling Stagg’s use of the N-word, she said 29-year-old Deriance Hughes, the former Popeyes employee who reportedly body-slammed her, was “told a lie.”

According to another Popeyes employee, Hughes, who was charged with aggravated assault, slammed Staggs to the ground in a parking lot outside after he believed Staggs called his sister, who also worked at the restaurant, the N-word.

POPEYES EMPLOYEE SAYS VIRAL VIDEO OF BODY-SLAMMED CUSTOMER DOESN’T TELL FULL STORY

POPEYES TROLLS CHICK-FIL-A WITH ‘ORIGINAL CHICKEN SANDWICH’ TWEET AMID ONGOING ‘CHICKEN WARS’

Staggs, who returned to the store because of a $13.11 overcharge, said that one employee told everyone that she used the racial slur and that things escalated from there.

“It horrifies me to hear somebody use a racial slur towards anybody because that’s offensive and I didn’t do that. That was hurtful I would ever be accused of that,” Staggs told FOX 17 News.

She said she didn’t leave the restaurant, after repeatedly being asked to, because she wanted to defend herself against the accusation.

“What bothered me so much, I’m not arguing. I’m a military daughter. I’m very direct. If you accuse me of something I didn’t do, I am going to correct it.

CLICK HERE TO SIGN UP FOR OUR LIFESTYLE NEWSLETTER

“It just feels like I’m in a nightmare,” Staggs added.

“I don’t understand why I even feel sorry for the individual who did this because I felt like he was told a lie and provoked. My heart breaks for him because it destroyed his life and mine.”

CLICK HERE TO GET THE FOX NEWS APP

Westlake Legal Group Popeyes-iStock Popeyes' customer body-slammed in parking lot speaks out for the first time Gerren Keith Gaynor fox-news/lifestyle fox-news/food-drink/food/fast-food fox news fnc/food-drink fnc article 3991b086-1871-5ec7-b9ba-180709ce9025   Westlake Legal Group Popeyes-iStock Popeyes' customer body-slammed in parking lot speaks out for the first time Gerren Keith Gaynor fox-news/lifestyle fox-news/food-drink/food/fast-food fox news fnc/food-drink fnc article 3991b086-1871-5ec7-b9ba-180709ce9025

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com 

Yes, You Can Get Free Trading. But There’s Often a Catch.

Westlake Legal Group 29money-facebookJumbo Yes, You Can Get Free Trading. But There’s Often a Catch. TD Ameritrade Holding Corp. Stocks and Bonds Personal Finances Financial Planners Fidelity Investments Charles Schwab Corporation Banking and Financial Institutions

Investing is cheaper than ever. Trading is free, some index funds may as well be, and a diversified portfolio can be built by machines for a fraction of the cost of live professionals who deliver advice in an elegant leather binder.

In the space of a few days last month, the price war among the brokerage firms pushed the cost for many trades to nothing at Charles Schwab, TD Ameritrade, E-Trade and Fidelity. Then, this week, Schwab said it would acquire Ameritrade for $26 billion — a deal that demonstrated the importance of market share in an era of cheap investing.

But low-cost investing isn’t always as cheap as it appears. Many companies, in stamping out certain fees, are doing other things that can cost you money — and it’s up to you, dear investor, to figure out what they are.

Each firm’s policies differ, but here are helpful places to look: the way your brokerage uses your cash holdings; the costs of other services it offers; and how it might be profiting off your free trades by getting someone else to pay for them instead.

Over the past decade, online brokerages and wealth management firms have started to make more money off customer cash — money that hasn’t been invested yet, for example — by sweeping it into lower-yielding deposit accounts instead of higher-yielding money market funds, said Michael Wong, director of financial services equity research at Morningstar.

Schwab, for example, will pay you a meager 0.06 to 0.45 percent of your assets, while investing it at roughly 2.65 percent, and pocketing the difference, he said. Cash holdings might earn nearly 2 percent elsewhere.

And that has paid off for the company: Net interest revenue made up nearly 60 percent of Schwab’s overall revenue last year. TD Ameritrade and E-Trade have similarly leaned on interest income, which represented more than half of each firm’s revenue last year.

Fidelity, which has a giant 401(k) business, doesn’t rely as heavily on interest — and earlier this year, it said all of its retail accounts’ idle cash would be swept into higher-yielding money market accounts. Vanguard does the same thing.

So yes, free trading is a nice little perk — but you’re most likely paying for it in the form of lower returns on the cash your broker is holding.

And free trades might not even be worth that much to you. Few enlightened investors are chasing hot stocks anymore; they’re buying and holding a diversified mix of index funds to help them pay for big life events like college and retirement. (Index funds are basic mutual funds that track wide swaths of the stock market.)

The big brokerage firms know this, and many of them have followed the lead of smaller, upstart firms like Betterment, which are known as roboadvisers, to provide mass-manufactured digital portfolios that operate largely on autopilot, and cost very little.

Schwab introduced its own digital investment service in 2015, and tried to one-up its competitors by making its service “free.” But there was a catch.

Many roboadvisers typically charge an overall fee — say roughly 0.30 to 0.50 percent of a customer’s assets annually — along with the (usually very low) underlying cost of the investments. Schwab omitted that overall fee, charging just the cost of the underlying funds.

But investors must keep anywhere from 6 percent to 29 percent of their portfolio in cash, which currently pays 0.45 percent, according to a Schwab spokesman. Schwab earns more money the bigger the allocation is.

In 2017, Schwab added a premium service for those with at least $25,000 in assets, which includes help from a human certified financial planner: That now costs $30 a month, plus a one-time initial $300 fee, along with the costs of investments. And it also requires the high cash component.

Even with a commission-free trading structure, said Greg McBride, chief financial analyst at Bankrate.com, “there are other revenue levers behind the scenes that brokers can pull.”

For example, brokers receive payments from technologically savvy wholesale brokerages that buy the right to execute retail trades.

The practice, known as “payment for order flow,” is widespread among online brokerage firms. (Fidelity and Vanguard say they do not accept such payments.) Critics say the practice creates a conflict of interest for brokers, who have an obligation to find the best price for customer orders. The Securities and Exchange Commission has said that such payments do not necessarily violate a broker’s duty to find the best prices for clients. But the commission also urges disclosure of such payments, which it acknowledges can create potential conflicts because it could mean investors lose out when stocks are purchased at higher prices.

“Reselling order flow to market makers will be an increasing focus for those firms offering free trading,” said William Trout, head of wealth management at Celent, a research and consulting firm.

The lesson here: Free trading, or any other free service, should serve as a signal for investors — you’re probably paying somewhere.

And part of the price you pay is figuring out how.

Matt Phillips contributed reporting.

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com 

Indiana high school football players abused boy with Down syndrome, mother says

Four Indiana high school football players are under investigation for allegedly assaulting and bullying their 15-year-old team manager, who has Down syndrome, before the squad’s homecoming game Sept. 27.

The athletes from Roncalli High School in Indianapolis are accused of forcing the boy to lick another student’s nipple in the locker room, an alleged assault the mother says wasn’t the first incident.

“My child is forever changed because of what they did to him,” said Lesli Woodruff, who added the incident was the second time in three weeks that her son has been harassed, according to FOX59.

INDIANA HIGH SCHOOL FOOTBALL COACH DIES AFTER SUFFERING STROKE DURING PLAYOFF GAME, OFFICIALS SAY

Westlake Legal Group Roncalli-High-School-Google-Maps Indiana high school football players abused boy with Down syndrome, mother says fox-news/us/us-regions/midwest/indiana fox-news/us/education/high-school fox-news/us fox news fnc/us fnc David Aaro article 8d566414-09a0-52b0-9484-fa303d438a92

The four athletes from Roncalli High School in Indianapolis are accused of forcing the boy to lick another student’s nipple in the locker room before the game, which she says has changed her son “forever.” (Google Maps)

On Sept 9. Woodruff says her son mentioned at dinner that “something disturbing” happened during football practice.

He told her a football player had snuck up behind her son and recorded a video of him using the bathroom — with the goal of posting the video to Snapchat.

“We went in and we met with the Dean and he admitted to us that his number one priority was to get rid of the video. His job was to watch the video, but he didn’t watch the video as he was required to,” Woodruff told the outlet.

An investigation by the Dean of Students, Tim Crissman, found the video was never posted to Snapchat, but the boy who took the video showed it to Crissman and they deleted it together, according to IndyStar. The boy reportedly received a punishment of after-school detention.

A month later, Woodruff says she received an anonymous letter in the mail regarding another case of abuse involving her child.

“They were telling me this because they were afraid that nothing would happen,” Woodruff said.

Woodruff says her son had dreamed of attending Roncalli High School for years, adding he idolized the team, which has won nine state championships.

TENNESSEE STUDENTS STAGE WALKOUT IN SUPPORT OF TEACHER PLACED ON LEAVE OVER N-WORD ASSIGNMENT

“That’s all he’d talk about. Going to Roncalli was something very important to him,” she said. “He’s always just had this love and wanted to be a Rebel. We thought it would be the perfect environment for him.”

She said that Roncalli was chosen as a school so her child wouldn’t have to be segregated into separate classes for his disability — adding that until the incident, everything was perfect.

“We absolutely felt like he was welcomed into that school community with open arms,” Woodruff told IndyStar. “Until this happened, I didn’t have any reason to believe otherwise.”

The second incident, during which their was allegedly 11 people present, caused Woodruff to file a police report.

“Things have been pushed under the rug and kept quiet and people don’t think they have a voice and certainly when they did this to my son, they took away his voice,” Woodruff told FOX59.

The Archdiocese of Indianapolis released a statement regarding the alleged incident.

“We are aware of an incident that occurred between students. Roncalli High School staff learned of the alleged incident and reported it to the Department of Child Services. Roncalli and the Archdiocese of Indianapolis are cooperating with the Indianapolis Metropolitan Police Department during this ongoing investigation,” it read.

The statement added: “While we will not discuss disciplinary consequences enforced in response to the actions of individual students, please know that any student responsible for bullying and/or inappropriate conduct toward another student has been and will be disciplined appropriately, as outlined in the school’s Parent-Student Handbook. Thus far, students have been suspended and one is no longer attending Roncalli. Following the outcome of the police investigation, further action may be taken.”

CLICK HERE TO GET THE FOX NEWS APP 

The investigation is ongoing.

Westlake Legal Group Roncalli-High-School-Google-Maps Indiana high school football players abused boy with Down syndrome, mother says fox-news/us/us-regions/midwest/indiana fox-news/us/education/high-school fox-news/us fox news fnc/us fnc David Aaro article 8d566414-09a0-52b0-9484-fa303d438a92   Westlake Legal Group Roncalli-High-School-Google-Maps Indiana high school football players abused boy with Down syndrome, mother says fox-news/us/us-regions/midwest/indiana fox-news/us/education/high-school fox-news/us fox news fnc/us fnc David Aaro article 8d566414-09a0-52b0-9484-fa303d438a92

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com 

Jennifer Aniston, Justin Theroux reunite for Thanksgiving dinner with Courteney Cox, Jimmy Kimmel, others

Jennifer Aniston and ex-husband Justin Theroux reunited for Thanksgiving on Thursday and the former “Leftovers” star took to Instagram to prove it.

“Very VERY thankful for these friends and these nights,” Theroux captioned the Instagram Story on Thursday evening.

JENNIFER ANISTON USES A DIFFERENT PHONE FOR INSTAGRAM: ‘I WON’T LET IT BE ADDICTIVE’

Westlake Legal Group image_from_ios Jennifer Aniston, Justin Theroux reunite for Thanksgiving dinner with Courteney Cox, Jimmy Kimmel, others fox-news/person/jennifer-aniston fox-news/food-drink/recipes/meals/thanksgiving fox-news/entertainment/celebrity-news fox-news/entertainment fox news fnc/entertainment fnc article Andy Sahadeo 8b5b44a5-0d87-59fd-a932-a5709ed827a5

Justin Theroux celebrates Thanksgiving with Jennifer Aniston, Courteney Cox, Jason Bateman, Jimmy Kimmel, Will Arnett and other friends. (Instagram/Justin Theroux)

The picture features Aniston with former “Friends” co-star Courteney Cox and fellow celebrities Jason Bateman, Jimmy Kimmel and Will Arnett alongside other friends.

In a following Instagram Story, Theroux attempts to record Cox giving a toast at the dinner.

“Jen, I love you so much… Justin, please stop filming me!” Cox emphatically pleaded in the humorous snap.

“I’m sorry I’m supposed to be recording toasts,” Theroux said in response. “I’m so sorry I have to cut, anyway, it will be on the DVD commentary.”

JENNIFER ANISTON POSTS FIRST #TBT ON INSTAGRAM

Aniston hosted her annual Friendsgiving dinner on Wednesday night and made a special dish just for friend Jimmy Kimmel.

The actress, 50, whipped up enchiladas for the late-night host after he jokingly complained to her the year prior about her dinner options.

“Ok, @jimmykimmel… here are your f*%king Friendsgiving enchiladas,” she wrote on Instagram alongside a photo of her baking the Mexican dish.

“Finally someone listened to me,” Kimmel said later in the video.

CLICK HERE TO GET THE FOX NEWS APP

Engaged in August 2012 and married in August 2015, Aniston and Theroux were married for less than three years and had no children together.

Fox News’ Jessica Napoli contributed to this report

Westlake Legal Group jennifer-aniston-justin-theroux Jennifer Aniston, Justin Theroux reunite for Thanksgiving dinner with Courteney Cox, Jimmy Kimmel, others fox-news/person/jennifer-aniston fox-news/food-drink/recipes/meals/thanksgiving fox-news/entertainment/celebrity-news fox-news/entertainment fox news fnc/entertainment fnc article Andy Sahadeo 8b5b44a5-0d87-59fd-a932-a5709ed827a5   Westlake Legal Group jennifer-aniston-justin-theroux Jennifer Aniston, Justin Theroux reunite for Thanksgiving dinner with Courteney Cox, Jimmy Kimmel, others fox-news/person/jennifer-aniston fox-news/food-drink/recipes/meals/thanksgiving fox-news/entertainment/celebrity-news fox-news/entertainment fox news fnc/entertainment fnc article Andy Sahadeo 8b5b44a5-0d87-59fd-a932-a5709ed827a5

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com 

Mississippi State prevails after Egg Bowl leg lift taunt costs Ole Miss OT

Westlake Legal Group Elijah-Moore-AP Mississippi State prevails after Egg Bowl leg lift taunt costs Ole Miss OT Julia Musto fox-news/us/education/college fox-news/sports/ncaa-fb fox-news/sports/ncaa fox-news/newsedge/sports fox-news/food-drink/recipes/meals/thanksgiving fox news fnc/sports fnc article 98f8a39d-3104-5549-9d7d-2dae0758b5e1

An ill-timed taunt by Ole Miss wide receiver Elijah Moore cost his team a chance to take a Thanksgiving rivalry game with Mississippi State into overtime.

Moore, meaning to taunt opposing fans, was penalized for celebrating a touchdown by crawling around the end zone and pretending to urinate like a dog.

On the final drive of the game, Mississippi State committed three of its five total penalties and Ole Miss ran nine plays inside the 15 before eventually connecting for a touchdown.

CLEMSON’S DABO SWINNEY RESPONDS TO CLAIM TEAM TRADITION TO BLAME FOR 2017 PALMETTO BOWL INCIDENT

But after the touchdown was signaled, Moore did his poorly-timed puppy parroting act and two officials responded by throwing flags that tacked on 15 yards to the Ole Miss extra-point attempt.

Then came the dagger as kicker Luke Morgan missed the 35-yard attempt.

Mississippi State emerged victorious in the 116th Egg Bowl, winning, 21-20, and taking home the prized “Golden Egg.” This was the team’s first win at home since 2013 as Mississippi State won the turnover battle, 3-1.

In a postgame interview, Mississippi State head coach Joe Moorhead — who has been under scrutiny by Mississippi State fans — said the win solidified his standing as “the right man for this job.”

“Just make sure everyone understands,” he said, “this is my school, this is my team, this is my program, and I’m not interested in anybody’s validation except for the guys in the locker room. And every single one of them you can ask who’s the right man for the job, they’re going to tell you it’s me. I promise you that.”

According to the Clarion-Ledger, only two other coaches in program history have started their Egg Bowl history with a win since World War II.

CLICK HERE FOR THE FOX NEWS APP

Mississippi State won an average of fewer than six games per year from 1980 to 2017. Moorehead’s team won eight in 2018 and just clinched the sixth win in his second season.

“They can go pound sand,” Moorehead said of his critics. “The only people I care about are the kids in that locker room…Everyone else can go kick rocks.”

Westlake Legal Group Elijah-Moore-AP Mississippi State prevails after Egg Bowl leg lift taunt costs Ole Miss OT Julia Musto fox-news/us/education/college fox-news/sports/ncaa-fb fox-news/sports/ncaa fox-news/newsedge/sports fox-news/food-drink/recipes/meals/thanksgiving fox news fnc/sports fnc article 98f8a39d-3104-5549-9d7d-2dae0758b5e1   Westlake Legal Group Elijah-Moore-AP Mississippi State prevails after Egg Bowl leg lift taunt costs Ole Miss OT Julia Musto fox-news/us/education/college fox-news/sports/ncaa-fb fox-news/sports/ncaa fox-news/newsedge/sports fox-news/food-drink/recipes/meals/thanksgiving fox news fnc/sports fnc article 98f8a39d-3104-5549-9d7d-2dae0758b5e1

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com