Goldman Sachs JB Were

After years of association with JB Were, I have closed my Margin Lending Account with them.  Paid off the remainder owing and transferring the equities to CommSec.  That means other than credit cards, I have no debt.

My biggest disappointment with the big city brokers is there is no desire to nurture small investors.  There is no favour, no special deals during floats, no special attention, no advice other than when you are buying, nothing, nothing, nothing.  How do they expect me to continue trading with them?  In fact, once, I was asked to sell News Corp Ltd because their big client (Rupert of course) wanted to buy more of News Corp Ltd shares.  I only realized that fact AFTER I sold.

In many ways, I am glad I have moved.  The website access that I get via GSJBWere has minimal information only.  So after exiting this broker and the old Citibank, I am on my own.  I hope I will do better!  But as I get closer to being a Senior Citizen, I will be indulging less in high risk stocks.  The banks have been good to me, other than NAB which is still wallowing in the UK.  Luckily, my biggest bank investments are CBA and WBC.