Brokers
Thursday, February 14th, 2008Happy Valentine’s Day
I was just thinking the other day about brokers and how can you tell the good from the bad? I think the only REAL way is to see how they perform. If they can make you money then they are great, if not, they are in the wrong job. I have a list of questions that you can ask a broker when you are out broker shopping which will give you a better idea what they are about and help you to chose the best one for you.
How do you charge for your services?
Will I receive a regular newsletter or information on any new sharemarket opportunities?
What sort of information can I obtain on your internet site? Are there costs involved?
Do you conduct client seminars?
Are you or your firm associated with any of the companies whose investment products are recommended by you?
What research facilities does the firm make use of?
How might you review my investment plan and how regularly would you do that? (full service brokers only)
Do I have to set up an account with you before I can trade?
INTERNATIONAL MARKETS
Which markets and which financial products on those markets can I access?
What other parties are involved in providing the service?
How do I pay?
Do I need to set up a cash account?
How and when can I place orders?
Where are my financial products held and how are they registered?
Is there a minimum transaction amount?
What is the brokerage?
Are there any custody fees or other fees and charges?
What research do you provide?
Do you provide access to any other investments (including unlisted managed funds)?
I hope that this is of some help to you.
Till next time.
Yours in Health, Wealth and Happiness
Janis
www.educationtosuccess.com