Schwab nearly blew through all the firm's capital buffer when someone wrote a check to a retiree for $9k (of ~1970 dollars; approximately $60k today)... except they actually wrote it for $90k. It got deposited; took months to get back; nearly caused the firm to close.
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And a few hours later Schwab would call you back: Operator: "Filled 1,000 shares of IBM at 57; one left. Is this correct?"
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They did material work in call centers to specialize such that e.g. only operators with broker licenses took orders, but since they were expensive, if you called and asked for a quote ("What is IBM trading at?") you got routed to effectively (cheap, tier 1) CS.
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End of conversation
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In 1991 - less than 30 years ago - I *walked* into a *bank branch* to buy my first ever shares in a company This was in London, not the US, but I’d bought groceries online by then, so The Future was available in some areas Note: made money on that one!
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