Weasel Rating
(3-Weasel = worst)
| This online broker... | ...makes this ringing declaration of privacy... | ...followed shortly thereafter by these weasel words | FundAlarm Weasel Rating (3-Weasel = worst) | Comments |
|---|---|---|---|---|
| The 2-Weasel brokers..... | ||||
| Charles Schwab | "...we respect every individual's right to privacy" and "we do not sell personal information to anyone" | "On occasion we may assist a company that is not affiliated with Schwab in providing or offering a product or service to you." | | Schwab's Web site offers no way to prevent disclosure of your personal information until after you've been contacted. |
| The 1-Weasel brokers..... | ||||
| E*Trade | "We at E*Trade recognize the importance of protecting your personal and financial information" | "We occasionally invite selected third parties to participate in offers we feel would be attractive to E*Trade customers" | | E*Trade provides an e-mail address that customers can use to permanently prevent information from being shared, before it happens. |
| Fidelity | "Since our founding in 1946, Fidelity has been committed to maintaining the confidentiality...of personal information entrusted to us by...customers" | "In certain circumstances, we may join with our business partners to provide to you information about our business partners' innovative products and services..." | | Fidelity provides an e-mail address to opt-out in advance, if you aren't interested in hearing from its "business partners." |
| The No-Weasel brokers..... | ||||
| Ameritrade | "Nothing is more important to us than the confidentiality and integrity of our customers' personal information" | None | No Weasels | Ameritrade apparently means what it says: "...we will not sell, rent or provide customer information to any other company" |
| Datek | See Note (A), below | No Weasels | ||
| DLJdirect | "DLJdirect adheres to confidentiality standards that are designed to protect your personal information" | None | No Weasels | Clean as a whistle: "DLJdirect will not sell or distribute your personal or account information to any outside source." |
| Siebert | "...you have our guarantee that we will never sell your name to any other firm..." | None | No Weasels | It's amazing how simple the word "never" can be..... |
| TD Waterhouse | "Protecting your privacy and the confidentiality of your personal information has always been fundamental within TD Waterhouse..." | None | No Weasels | Unusual among brokers, Waterhouse won't even share information within the company if you ask them not to. |