New Investment Changes not very helpful

[BSR]

2 issues that i have found with the new investment changes, and im sure there are more but today i sold a position in a stock yet the cash generated from that sell never appeared in my account, the old system was almost an immediate depost into the cash account, here it is 12 hours later and im still wondering where is the cash? Second, on the account setting i used to be able to be one click away from seeing a drop down cost basis average and a few other key metrics, this was helpful when there were either multiple dividend reinvestments or multiple purchases of the same stock. Now that cost basis info is nowhere to be found. I hope that other people are letting you know about the not so friendly changes. This makes me take a hard look at using another investment company for my IRA's and Brokerage accounts as the userface and platform really are lagging.

[Wendy Poling USAA]

B$R -

Thank you for your feedback and insights. I will pass this along as your member feedback is very important to us. If you have any questions on where to find certain things, an investment specialist can take a closer look and offer you assistance. You can message us here: http://bit.ly/U7b7Jj. Thank you again. - Wendy

[member 40+ years]

Wendy -

It would be much more helpful if you would actually answer the specific questions raised instead of instructing the member to take their questions elsewhere. The questions raised were NOT feedback - they were QUESTIONS. If you don't have the answers then research what they are and respond with them on the forum. That way you can reach MANY members who are all dealing with the same issues.

In addition, it's very frustrating for member investors to be told that now we must contact an investment specialist in order to obtain information that previously was provided either automatcally or was available at the touch of a key on our computers. 

I am curious indeed to know how these changes brought about by the investment management transition are "improvements in service". It would not surprise me if USAA loses a considerable amount of investment business as a result. Unfortunate.

[LFW]

I too am confused as to what benefits we as end users are receiving from the new platform. I used to have more information available, and trades were faster. I've been waiting about 25 hours for the cash to show up from one trade - again this used to be near instant.

[Jim Mac]

I pulled my money from my margin account after a snafu on some executed covered call options on my shares delayed the money from clearing for a week. It was my last straw.

Might I recommend NSF, or Fidelity. For me, it has been amazing as they offer a buy/write trade strategy on stock/covered calls in one trade and the end commissions are about 25% cheaper than USAA's system of two separate trades (under $10 for both trades with NSF, about $12-14 with USAA depending on number of contracts).

The entire conversion just seemed to be executed with little to no rehearsal or contingency planning. The entire prospectus lacked transparency and did not spell out the impact in a BLUF style. They lost me as a customer for brokerage services other than a passive account that just sits and collects dividends.