DLJ neglect
Written: Mar 22 '00 (Updated Apr 16 '00)
|
Product Rating:
|
|
|
Pros: good research
Cons: abysmal customer service
|
|
|
| Chauncey's Full Review: DLJ Direct |
I moved from Etrade to DLJ Direct and made a hasty retreat back to Etrade. DLJ is resting on it's laurels. The only thing they have going for them is their name and their analyst research. Other than that, you're better off with ANY other on or off line brokerage house.
They managed to botch the transfer process in BOTH directions to and from my Etrade account. 4 months later, they have yet to transfer all my assets even though said documents are signed, sealed, and delivered.
But what is most astonishing about a big firm coming out of the gates in the race of on-line brokerage houses, is how little they care about customer service. The source of the attitude is understandable from one standpoint, as they've long since proven themselves on Wall Street, but they have a long way to go before they're able to accomplish something comparable in the internet sphere. The people on the other end of the line, whether on the computer or on the phone, assume attitudes and postures incongruous with, and far loftier than, their positions.
I was attracted by their impressive research available to clients, but at the end of the day, it's nothing you can't come up with from the amalgamation of financial sites out there. Plus it's very difficult to discern why they fancy themselves worthy of the extra $5 a trade compared to Etrade and other brokerage houses. In my experience there was little or no difference save for the extra $5.00 I got to pay each time I made a trade.
They often wait weeks to update your Balance accurately, which is perhaps the most egregious oversight by this inexplainably arrogant firm. It shows again the flagrant disregard they show their clients time and again. Plus, they also make the task of tracking your cost basis with your market value for each holding a calculus exercise. That is something that should seem to occur without saying. Etrade's, "Portfolio", is far superior and blows DLJ out of the water.
DLJ Direct is an example of a corporate giant seizing the opportunity to take their show on line and having it executed by some kids in the side office. Obviously, management probably doesn't know how to turn on a computer, let alone track the performance of their internet site. They must think it can run itself.
As an aside for Macintosh users, DONT USE THEM. They aren't even adept enough to put out a software program that is cross compatible. Forget about tracking your holdings in real time with their streaming ticker. What they advertise is just a mirage.
Recommended:
No
|
|
|
|
Epinions.com ID:
Chauncey
|
|
Member: Veronica Kornbluth
Reviews written: 59
Trusted by: 15 members
|
|
|
- Add to My Yahoo!: 
- Add to Google Homepage: 
© 1999-2009 Shopping.com, Inc.