> You will if you try to trade bonds in the conventional way, which is a huge pain in the ass.
And that's a bunch of horsecrap. Do you buy stocks in your name too? No. Ordinary investors hold securities in street name with a brokerage.
I've bought corporates through Vanguard Brokerage Services, which actually doesn't have a great reputation for being friendly to buying individual securities. It's a click of the mouse and $2 per $1K face or half that if you have a large account. You can also call up the fixed income desk and do it over the phone. No problems.
And that's a bunch of horsecrap. Do you buy stocks in your name too? No. Ordinary investors hold securities in street name with a brokerage.
I've bought corporates through Vanguard Brokerage Services, which actually doesn't have a great reputation for being friendly to buying individual securities. It's a click of the mouse and $2 per $1K face or half that if you have a large account. You can also call up the fixed income desk and do it over the phone. No problems.