Discussion on Sogo Invest
September 8th, 2006 by Grant in: Brokers, InvestingFor those looking for a discount stock broker, there is an interesting discussion pertaining to how they handle margin and ACH transactions in a pervious post.
“Vacman” and “indexfundfan” have brought to light some legitimate concerns about when margin interest is applied, and how long it takes to transfer money in to Sogo Invest. What’s really impressive is that there are official responses to the discussion from Sogo Invest management (filtered through me).
The company is very interested in feedback, so if you have anything to contribute, please know that the management team from Sogo Invest reads TheCornerOfficeBlog regularly!
Check out the post and the discussion.
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September 21st, 2006 at 1:29 pm
Glad to heat that they read the comments in this site. I have been asking around about Sogo to see what the people have to say. A month ago it sounded like people were pissed. Now it seems that things have changed in sogo’s favor. I haven’t signed up yet but I am interested. We shall see.
September 21st, 2006 at 5:52 pm
I agree, David. The mood seems to be changing.
I think there are a few features I’d like to see added before I make a move. One being the ability to utilize DRIP programs. Right now, my retirement account is set up so that my dividends are reinvested back into the stock automatically, something I’d think Sogo Invest would WANT people to do since they push their customers to build wealth over the long run.
-Grant
September 25th, 2006 at 10:44 am
Good point Grant. Automatic features are always nice. We are busy people and sometimes we just don’t have the time to be checking everything. It’s to nice to take a peak everyonce and a while and the see the numbers grow. Do you think you could contact them directly. It seems you might have developed a rapport with the staff their. You posted an interview and comments that came directly from their CEO. Give it a shot. I am almost certain they read this site on a daily basis.
September 25th, 2006 at 11:03 am
I think I will hold out for a bit myself. I am sure they will add some new structure to the site soon. They just started a few months ago and are working out the kinks now. It is the same with any new software programs or automobiles. Let the first customers complain about the unpredictable issues and allow time for the company to refine their product or services.
September 25th, 2006 at 7:30 pm
SM Invest, yes I can contact them directly. I have been told that they are working on the DRIP features, which should be out shortly.
However since I utilize the DRIP with my retirement accounts, I also need the ability to set up retirement accounts with Sogo.
All in good time, I suppose.
-Grant
PS, yes, the folks at Sogo Invest do read the blog and provide feedback.
September 26th, 2006 at 8:56 am
Grant, That would be amazing if they added the DRIP and retirement account features to the site. Especially if it was a direct result of your posts on this blog. That would demonstrate the power and influence the customer can have with a company in the blogisphere. It is a place where we all come to discuss our life tested experience with a service or product. It is refreshing to have an avenue of expression that is monitored by the very people who can execute the changes that will refine the service. Keep on Blogging!
November 13th, 2006 at 12:21 pm
I found a new blog. Guess who? Sogoinvest now has their own blog. That makes things easier. Now we can ask them questions directly and then share our experiences in these other great blogs. It creates a much faster response time. I like it. Here is the link.
November 13th, 2006 at 9:20 pm
Great fine, David!
I figured it was only a matter of time till Sogo developed their own blog. They were very receptive to the feedback from TheCornerOfficeBlog, and I’m sure they found that a more direct link with their customers was in order.
-Grant
December 2nd, 2006 at 10:51 am
[…] Zecco is one of the latests ventures to join the low/no commission online brokerage game, and much like Sogo Invest, Bank of America, TD Ameritrade, and ETrade (among others), they are trying to blow open a new niche in the discount brokerage market. […]
December 22nd, 2006 at 1:10 pm
I’d still stay away from SoGo… as of today I am still having trouble with the account and get ZERO customer service support. Had to call Genesis directly to get someone to help me.
December 22nd, 2006 at 7:47 pm
Sogo-NoGo,
As with my response to your previous comments on another post, I feel that your experience is in the vast minority of those who I’ve heard from.
Many that started with Sogo from the get-go have indicated that yes, they did have their problems in the beginning, but have since refined and streamlined their customer service and products.
I’m not trying to discredit your experience, just adding the feedback that I’ve received from others.
-Grant