Comments on: Disadvantages and Advantages of Loyal3

By: Kipp

Kipp — Thu, 11 Sep 2014 11:48:38 +0000

Hey Demetrius,

Ya, I agree it is a great way to throw in a few dollars here and there. You can’t do that with traditional brokers because of all the fees. I think they have alot of valuable services and I hope the model works out for the long run!

By: Demetrius Frazier

Demetrius Frazier — Thu, 11 Sep 2014 02:50:24 +0000

Loyal3 is on my list to start investing very soon. Going to use funds from my side hustle as an Uber driver to feed the investments.

Loyal3 has a number of good stocks and the limited list is full of quality sticks to choose from. The low invesent amounts and zero fees has me sold.

By: Kipp

Kipp — Wed, 10 Sep 2014 16:14:39 +0000

Hi Tommy,

I don’y have any statements yet, should have one at the end of September I would imagine being an end of a quarter. I can see online tho, with multiple purchases, that they are not breaking it down under each company. So hopefully the statements will be more detailed when I get one of those… if not it is a good thing I am tracking my purchases!

By: Kipp

Kipp — Wed, 10 Sep 2014 16:03:15 +0000

Hi Agent Dividend,

It is nice that they do have a few good holdings and the minimums are low to start out investing. I hope the no fee system lasts, I haven’t heard of any no fee systems before, but Dividend Mantra pointed out in his comment that he has seen a few no-fee systems before and they have not lasted. I am not sure on the previous companies business model’s, maybe Loyal3 makes enough off of IPO’s and other business services that it will last? Only the future will tell, but as Mr. Frugalwoods pointed out, allowing credit cards can kill them on fees.

By: LeisureFreak Tommy

LeisureFreak Tommy — Wed, 10 Sep 2014 15:41:34 +0000

Thanks for the info. I have seen another blog about Royal3 and have it listed as something to investigate further. This is a great writeup and I like the way you have listed out the pros and cons. I love the Credit Card rewards angle. One of the biggest pains is figuring out your basis when selling stocks when later accounting for it on your taxes. My question is do they have a good system to provide the necessary statements for that, especially for those who purchased in $10 increments of a Stock over a period of time?

By: Agent Dividend

Agent Dividend — Wed, 10 Sep 2014 04:44:12 +0000

I’m currently using Loyal3 to invest in a few companies until I get a substantial holding to transfer to my brokerage account. As you mentioned, it has some positives and negatives. Thus far, I’m really liking my account, but I’m also leary of the no fee concept. I hope it lasts, but who knows. I’m going to take advantage of it while I can though! Thanks for the posting.

By: Kipp

Kipp — Wed, 10 Sep 2014 00:29:55 +0000

Year their selection is limited, but at least they have some high quality companies. I guess if they close I will probably transfer the shares to scottrade or Schwab. Not sure which yet. I would imagine they would have to liquidate the parital shares as well. Not sure what exactly would happen in that scenario! But in the meantime I can start up small positions in several companies.

By: Dividend Mantra

Dividend Mantra — Tue, 09 Sep 2014 21:02:33 +0000

Kipp,

Sounds like a good rundown here on Loyal3. Wish you the best of luck with their services! And you’ve got a great list of 10 stocks up there to get started with.

There have been quite a few no-fee platforms come and go through the years. Hopefully, they can keep it up longer than most.

Best wishes!

By: Kipp

Kipp — Tue, 09 Sep 2014 18:12:34 +0000

Yea that is unfortunate. All of these darn legal barriers! And Canada is actually closer to me than most of the US!

By: Kipp

Kipp — Tue, 09 Sep 2014 18:09:22 +0000

Yea I think it is a great way to start investing a few bucks. Great motivation for starting to save as well. Didn’t buy $10 worth of coffee this week, buy $10 worth of stock!