We’ve just had the rug pulled out from under us. Investools called a couple months ago refunding the subscriptions fees and with good news. The tools AND the classes were now going to be free if we moved our trading accounts to TD Ameritrade. Investools subscribers received a notice that Investor Toolbox would no longer be available after Oct 1. When I inquired for more information, TD Ameritrade’s and Investools’ client services explained that the Investor Toolbox was going to be moving to the Think or Swim platform.
Free Investools tools and courses were pretty exciting news. I have been paying to subscribe to Investools for at least 15 years. I have really gotten to know their dashboard and harnessed it to get our analysis of a ticker symbol down to under 4 minutes each. That included looking for any red flags on the dashboard, (particularly in the Phase 1, Phase 2, Big Chart, and news sections) and the time to calculate an intrinsic value from numbers pulled from 6 of the left nav bar sub menus.
The big October 1 date came and I logged into my Investools.com with TD Ameritrade credentials. Sure enough, the toolbox was gone but the classes were there.
I then logged into my new TDAmeritrade.com accounts. Not able to find where the Investor Toolbox had been moved, I called client services. I was told that the toolbox wasn’t moved… it was REMOVED. I got offered “several useful tools” to help me analyze that were available on TD Ameritrade’s website.
I’m in shock. I’m both hit with the feeling of being deceived into opening a TD Ameritrade account AND the terrible sinking feeling of the dozens of hours in front of us, as a club, going through the learning curve of new proprietary tools and adapting them to our process.
It hurts to be lied to and to grieve the loss of a system we’ve mastered to a 4 hour process per month gaining us almost double the returns of the stock market over the last 15 years.
I barely had enough time in my life to fill out simple TD Ameritrade rollover forms none-the-less have hours of research and learning and hunting in front of me to find all the figures I need and adapt them to an entirely different propriety toolset.
“But the TD Ameritrade classes are free!” You know what’s NOT free? My time learning a new system! Is it possible that system could yield us greater returns? Unlikely. We were reaping the rewards having mastered the right tools at Investools the great returns we had over the many, many years of fine-tuning.
What’s the reason for canceling the tools, that TD Ameritrade admitted, so many of their clients have relied on? What would motivate them enough to make it worth angering so many of their clients (and newly transferred clients)?
I can’t fathom finding the time to do our analysis slowly on a new system in the next few months. There will be a large opportunity loss just from the efficiency reduction alone. There go tens of thousands of future dollars lost.
Please comment if you have any insight into TD Ameritrade’s motives.
Do you know of an alternative Investor Toolbox platform with a nice dashboard view that isn’t TD Ameritrade?