It is going to cost more for customers of A.G. Edwards to make trades.
The St. Louis-based retail brokerage said it is raising commissions on agency equity and option transactions by 5%. The brokerage also will add a 50-cent "postage and handling fee'' on stock, bond, commodity and certain mutual fund transactions.
The commission increases at A.G. Edwards, which mainly relies on 7,000 brokers to handle customer trades, are the first since 1994. The company said it last raised postage and handling fees in 2003.
This month, the U.S. Postal Service raised the cost of mailing a first class letter by 2 cents to 39 cents.
A company spokeswoman was not immediately available to comment on the commission increases.
The commission hikes at A.G. Edwards are bucking an industry trend toward cost cuts.
Parisian Family Office, Founder & CEO. Started Wall Street, '82. Drexel Burnham alum in LaJolla, CA. Founded Native American Advisors, Chippewa Partners. '95. Chippewa. Conservative. Raised on reservations. Was NYSE/FINRA arbitrator. Trading O'Neil/CANSLIM methodology at PAMELOT, TN farm, GHOST RANCH, MT, on the Yellowstone River, or CASA TULE', their winter camp in Los Cabos, Mexico. Will always be, a relentless optimist with radical gratitude.
Parisian Family Office, Founder & CEO. Started Wall Street, '82. Drexel Burnham alum in LaJolla, CA. Founded Native American Advisors, Chippewa Partners. '95. Chippewa. Conservative. Raised on reservations. Was NYSE/FINRA arbitrator. Trading O'Neil/CANSLIM methodology at PAMELOT, TN farm, GHOST RANCH, MT, on the Yellowstone River, or CASA TULE', their winter camp in Los Cabos, Mexico. Will always be, a relentless optimist with radical gratitude.
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