Ya know what might be a real seller on these premium services (other than results):
Answer: you make the IFTs for me; I don't have to log on, I don't have to watch messages at 8:45 in the morning, or watch an Iphone.....it just happens; you get the passwords securely - get power of attorney or whatever you want to call it - and the IFTs are made like that - - - - no watching, waiting for nothing, deciding. We could log on once a month, every day, or not at all - the returns would all be the same.
That's what I would call a "premium service".
That was something I thought about a few years ago, but there are too many things to consider. I would have to get the proper licenses to manage OPM (other people's money). I used to have a series 6 and 65 license, but I think I'd have to go to a series 7 for something like that. Tough test.
I'd also have to wrote some kind of program to access the tsp.gov website, which I don't know if it would be allowed, then automate the transactions so that hundreds to thousands of IFT's can be done within the sometimes 30 minutes we have between signal and the deadline.
If I was 10 years younger, maybe. But I may look into it. Maybe I'll get my son to get the licenses.
Tom
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Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
This sort of thing has been done. There are programs - for example auctionsniper.com - that do much more complex automated transactions by accessing EBAY's website with voluntarily-disclosed userIDs and passwords; two-four transactions a month for several thousand participants should be possible. Not sure of the licensing needed - could be controlling 10-100s of millions in retirement funds so that would need to be resolved and the whole thing made secure.......wouldn't want that hacked.
Perhaps some programmer will steal the idea and sell it to me.
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