Andover

Does anyone have any real horror stories concerning Andover. I am thinking of switching my account to them. I am a very active trader and am a little concerned about their back office support and the Bait and switch commission techniques I have heard about (though I am hoping the person who told me this was full of !@#t).

Has any one else heard of such things.
 
You're concerned about back office support?

The staff at Andover is quite large. Just a person to deal with the Series 7 material, a person to help open an account, a few people to answer questions about the software, a person who deals just with the NASD, and so on , so you a situation it there is a person who has one duty they do all the time just dealing with that situation.


If you are worried about a different deal every few months forget it. You can get everything in writing rather easily with the guys I've been working with.

so far I have no complaints at all about the firm, but I can only speak of Andover through a clearing side. The guys I'm using as prop I know well, they have everything in writing and have been very fair and upfront with me.

:D
_________________________________________________


now on other part
I've just heard a story--starts off bad but ends rather good.

There is a poster on this board (I won't name him unless he wishes to share) who recently emailed me a few days ago asking about why I feel so strongly about Lynx/Andover. I gave him my reasons than he shared his story.


He had joined an LLC of Andover, put up 30K and started trading.
He finds out awhile later that the firm had a deficit of more than 1
million and one of the partners of the LLC left Andover with some of the traders, and left the LLC with this huge deficit.

Mike Picozzi CEO of Andover made sure our friend was able to trade with his full deposit at another LLC of Andover.




Robert
 
Thanks for the help Robert. I am only concerned b/c I have heard many mixed feelings. I met with a rep from Andover quite a while ago. I was intrigued, but at the time had concerns about rumors of very gray behavior in the back office (though I have yet to be provided with any truly solid proof). I am once again interested in switching to their platform because of problems with the shop I am currently at. I would still love to hear any success or horror stories from anyone that may have them. Thanks!
 
Again

I can only speak about Andover as my clearing firm, as I trade with a group that is different than a lot of other offices Andover has.

I'll post a rating in the Broker's section in a few months on Andover as my clearing firm.

If you want to hear some things about them

well Martin Weinberg, 2 points, SDtrader, WarEagle are all trading with my firm feel free to ask them something as they all post here.

I'd include JWkirkland but he's a partner so you might think it too one sided from him.

:D

Or I can get you some email's /Phone #'s for some of the traders in our NY office.


The best way to find out is ask

Robert
 
Quote from javs5150:

Since Lynx is a LLC of Andover does it also have its share of negative rumors?
More...

maybe a rumor

but nothing based on fact, or anything I've heard of
 
Quote from dgabriel:

I contacted Andover about opening an account. No reply.

I opened one elsewhere.

If they can't properly handle an inquiry for a trading account, what can they do?
More...

unlike me. i contacted them once and this rep kept calling me every two days (talking some bs)... didn't join either.
 
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