Free Trade And Dividend Reinvestment From Zecco

It seems that Zecco not only offers free equity trade for an account with a balance of $2500 or more, but they also have free dividend reinvestment. The following is from Zecco's FAQ section:

Does Zecco Trading allow account holders to automatically reinvest dividends for equities and exchange traded funds?
Yes, dividend reinvestment is a feature that is available to our clients and can be setup during the account opening process. If you would like to add this feature after the account opening process is complete, you must submit the request in writing to our customer service department.

Anyway, now we can be assured that they do offer dividend reinvestment. And the best way to use this service is setting it up when getting a new account.

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30 Free Trades per Month from BoA

Bank of America is now offering $0 equity trade for customers with $25,000 or more in all asset across BoA deposit accounts, including checking, savings, and CDs.

Offer available with an individual or joint Banc of America Investment Services, Inc. (BAI) Self-Directed Brokerage account. If you have a combined total of $25,000 or more in your deposit accounts at Bank of America N.A., BAI waives its commission fee for as many as 30 online equity trades each month. When you make an online equity trade, BAI determines whether you meet the balance requirement to qualify that trade for the commission fee waiver. BAI adds the average collected balances in your checking and savings accounts as of the prior month to the balances in your CD and FDIC-insured IRA accounts as of the prior business day. If this calculation reflects a combined total of less than $25,000, BAI then makes a second calculation to see if the trade qualifies by adding the balances in your checking, savings, CD and FDIC-insured IRA accounts as of the prior business day. Offer applies only to online equity trades, including stock and exchange traded fund (ETF) trades. Standard commission fees apply when the balance requirement is not met, or when you exceed 30 qualifying trades.

While a minimum opening balance of $10,000 can earn 5.00% APY for a 7-month CD, the rate for money market savings account is only 2.40% APY for a balance of $25,000, which is quite low. 

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A New Record For The Dow

I don't know if there's anybody celebrating, but we had a new record for the Dow at the close, 11,727.34. The old record was 11722.98, set on January 14, 2000 at the peak of the Internet bubble.

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Reminder: Free Financial Advice This Friday

This is just to remind you that Kiplinger's Personal Finance and the National Association of Personal Financial Advisors (NAPFA) will hold Kiplinger's Jump-Start Your Retirement Plan Days on October 6. Members from NAPFA will be available to answer your questions on retirement planning for free via the toll-free number (888) 919-2345.

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Free Financial Advice Tomorrow

Need help with your retirement plan? How about some professional assistance?

Kiplinger's Personal Finance and the National Association of Personal Financial Advisors (NAPFA) will hold Kiplinger's Jump-Start Your Retirement Plan Days on Thursday, September 21 (that's tomorrow) and Friday, October 6 (only these two days). Members from NAPFA will be available to answer your questions on retirement planning for free via the toll-free number (888) 919-2345.

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