Comments on: Snowball City – Loyal3 Dividends

By: writing2reality

writing2reality — Sun, 04 Jan 2015 14:53:04 +0000

Bummer? Yes. Unexpected? No.

Just way too costly of a program to keep active for the long haul. I’d imagine that there was a budgeted spend for marketing purposes and once that was run dry, they ended the program. Customer acquisition, while still important, can be achieved more through word-of-mouth and other sources much cheaper without the credit card hook.

By: Ryan Fowler

Ryan Fowler — Sun, 04 Jan 2015 07:24:31 +0000

It is a bummer that you can’t use credit cards anymore for loyal3

By: writing2reality

writing2reality — Wed, 10 Dec 2014 14:38:42 +0000

Thanks for the comments Richie, and I agree with your sentiments. Selling is generally not an option when I invest, so allowing a portfolio to grow and build on itself is important. Every dollar spent today is several dollars lost down the road. Something I try to balance as I live my life.

I appreciate you stopping by!

By: Richie

Richie — Mon, 08 Dec 2014 21:27:07 +0000

Just don’t sell your positions if you don’t have to! Remember, you’ll only pay taxes on positions you sell (if at a gain), so why not hold them and let them continue to grow? We always assume we “win” if we buy and sell. It’s just not the case. The American way is to pump and dump on stocks, buy low, sell high and so on…they don’t emphasize how true wealth is gained – by minimizing taxes, investing in tried and true dividend stocks and holding them forever. Not sexy, but my first million was made this way and after I hit it, I lived so long in a frugal lifestyle, I kept saving and continue to live well below my means. Do the same I beg you! Giggle when you see 16 year olds in daddy’s new car knowing that that money, slowly invested over time, could have set them up for life. Invest slow and steady, watch it grow, relax and take a deep breath when markets have bumps and add money when others are running for the hills.

Have fun and BEST WISHES!!!!

R-

By: writing2reality

writing2reality — Tue, 30 Sep 2014 00:18:56 +0000

Ogie DG, the short answer is yes, you can transfer the account to another brokerage. However, based on my understanding, you can only complete the transfer if you close the account. Another way of saying that is if you transfer the assets, you will be made to close your account. I would look into it further prior to transferring any assets.

By: ogie dg

ogie dg — Mon, 29 Sep 2014 23:34:11 +0000

Hi W2R,
I’ve been wanting to experiment on opening a loyal3 account, who doesn’t want a free trade then the use of credit cards reward. I have a question tho, do you know if they have an option to transfer account to a different brokerage company?

By: writing2reality

writing2reality — Mon, 01 Sep 2014 23:29:05 +0000

My understanding based on the FAQs on their site is that should Loyal3 go out of business, all customer’s assets will be transferred to the broker-dealer of their choice/or a default broker, as with any other broker we all invest through traditioally. From a “going concern” standpoint, I don’t think investors have anything to worry about. Since you are not investing in a fund, but instead, are investing in individual securities, your assets are protected by the SPIC insurance from fraud and other issues.

Hope this helps and best of luck when you start your account!

By: Integrator@financiallyintegrated.com

Integrator@financiallyintegrated.com — Mon, 01 Sep 2014 23:18:47 +0000

W2R, I’m really interested in opening a Loyal3 account, and will likely do so within the next few days to start an accumulation portfolio of regular small investments in some bottom drawer set and forget companies. The one concern that I had was how the investments are actually help (ie in a custodial account). If Loyal3 goes out of business, do I need to line up alongside other creditors to have a shot at reclaiming my holdings? A scenario we don’t want to consider, but I’m curious as to what the resolution would be. Or does this work like any other broker account?

By: writing2reality

writing2reality — Mon, 01 Sep 2014 20:18:20 +0000

Glad you liked the explanation! I can certainly appreciate simplifying your accounts, but if you get a chance to check out Loyal3, let me know your thoughts/experience!

By: Green Money Stream (@GrnMoneyStream)

Green Money Stream (@GrnMoneyStream) — Mon, 01 Sep 2014 19:00:03 +0000

Thanks for the explanation of how Loyal3 handles dividends. That’s interesting. I still haven’t opened an account. I’ve stayed away just for the simplicity of keeping everything in one brokerage account. But I think I should just do this, since the no-fee structure is very alluring. Best wishes!