The Broker Matrix

The best broker for you depends on what’s important to you.

(Image credit: Ismagilov)

Back in the April issue, I wrote about my beef with my broker, E*Trade, over $32,000 that had gone missing from my IRA. As I explained then, I had invested in MobilEye, an Israeli company that developed camera-based driver-assistance technology, and the company was acquired by Intel. Before that point, whenever shares of companies I owned had been acquired, I simply let the money make its way to my account. But in this case I was supposed to actively tender my shares, and I missed the tender period because E*Trade didn’t use e-mail or snail mail to notify me of the requirement. The money was sent to an escrow account in the Netherlands, and although I filled out multiple forms and affidavits that E*Trade forwarded, nearly six months later there was no indication that the money would be sent to my account anytime soon.

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Mark Solheim
Editor, Kiplinger's Personal Finance

Mark became editor of Kiplinger's Personal Finance magazine in July 2017. Prior to becoming editor, he was the Money and Living sections editor and, before that, the automotive writer. He has also been editor of as well as the magazine's managing editor, assistant managing editor and chief copy editor. Mark has also served as president of the Washington Automotive Press Association. In 1990 he was nominated for a National Magazine Award. Mark earned a B.A. from University of Virginia and an M.A. in Writing from Johns Hopkins University. Mark lives in Washington, D.C., with his wife, and they spend as much time as possible in their Glen Arbor, Mich., vacation home.