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What is a section-703 IRA?

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Has to do with DRIP (dividend reinvestment plans ) There are companies that will let you direct purchase shares (thus, no commission) and they reinvest all dividends (buying additional shares with dividends ) Actually , great idea to get kids into investing etc . Great to do if you only have a minimal amount to invest .

Scottrade will allow you to pool your money and buy DRIP shares in stocks that you own at ZERO fees. You are not limited the way you are at TD-Ameritrade. Meaning at Ameritrade you can only invest your drip fund back (unless they have changed) into the same companies. At Scottrade you can Invest Your Drip funds from one company to another.

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