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Is "Free" Stock Trading Really Free?

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Since 1975, when the US Securities and Exchange Commission (SEC) deregulated stockbroker commissions, rates have been falling.  And recently, several major discount brokerage firms have announced completely free stock trading.  But our next guest says that, as always, you should beware of any offer of a “free lunch”.

Mike Switzer interviews Les Detterbeck, a chartered financial analyst in Charleston, SC and a member of the SC Chapter of the CFA Society.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.