Hey, thanks for the comments Katavi (and Dimaz). Yeah, it is rather a dilemma. I have always gone online since I am very independent in making my own decisions, plus I have another business I run (not trading full-time) so I often won't be checking the markets till late at night. I can then make my trading decisions, enter the trades and it doesn't matter what time of day or night it is. After paying online rates for many years it is rather difficult to face paying more than 5 times that much for a full-service broker when all I want is execution only and really am not after their advice. The first Morgans guy I spoke to refused to take me on (since I was honest with what I wanted). He was only interested in his high end clients. Funny thing is they still make brokerage out of me on a sale with an IPO, so it's not like they're working for nothing. I did get onto another Morgans guy who took me on but I know I'm going to be at the bottom of the list when it comes to allocations.
So for your 80% through the brokers, do you spread that around amongst them? If you're trading full-time I can totally understand just going through a broker since you can probably negotiate a pretty good deal with them.
Final question (just so I can understand how these retail broker firm offers work) - do you reckon that if my Morgan's guy was motivated to do so he could have gotten me some Touchcorp, or do you think it just wasn't possible? Or maybe I should have been in touch with him when the bookbuild was on?...
I was going to sign up with Bells as well, so maybe if I put a few trades through Bells and Morgans it might be enough to gain a little favour at IPO time.
