How To Find
Brokers must be dedicated to achieving the financial goals of their customers
by understanding their needs, by offering quality research,
analysis, advice and opportunities and by providing fast, accurate,
superior and expert service!
To many people the stock market seems pretty mysterious,
and they're often tentative about making investments.
But believe me!
You don't need an economics degree to learn how the markets work.
But you do need the advice and experience of a good broker!
Stock brokers today have a range of services
tailored for the needs of the growing numbers of shareholders.
There are three levels of service you can take:
1. Dealing or execution only.
You simply call the broker and instruct them to buy or sell the shares you want.
They carry out your instructions but will not give you any advice on your decision.
You can always take advice from another properly qualified financial adviser.
With this service you will get the benefit of the broker's expert advice.
They will discuss with you their views on various companies and recommend
whether you should buy, sell or keep hold of your shares.
Make sure you feel comfortable with and understand what your broker is saying to you.
The broker will take all the buying and selling decisions,
contact you regularly to keep you informed,
and tell you how much your portfolio is worth.
Choosing a Stockbroker
Selecting a stockbroker to handle your securities
is an important process, but it's vital that you first understand
your own investment philosophy and the services you'll require.
Determine how you will handle decision-making,
your risk tolerance, your goals, the amount you'll be investing
and how you'll be paying for your investments.
First time's a charm!
Many people investing in the stock market
for the first time
need a stockbroker to hold their hand through the process.
Not all brokers provide that, but an ideal broker, carefully chosen,
is often the best way to start out.
Many first-time investors don't know the proper terminology
involved in trades and can make an error
when ordering from a busy trader who doesn't give advice.
Ask friends, neighbors and business associates for recommendations.
Then go shopping among several different brokers.
Be candid about the amount of money you are willing to invest
and how active you want your account to be.
A broker who has been told that you want a stable, conservative portfolio
will be less likely to call you with every hot new tip.
When interviewing potential brokers,
find out how extensive the research information and
trading resources of the firm are.
Building a relationship!
Don't allow yourself to be pressured or bullied.
After all, it is your money.
Discuss how often you may be likely to ask for specific price quotes.
If there is activity in a stock and conditions are changing rapidly,
frequent price quotes should be no problem.
But if you telephone simply out of routine or nervousness,
you may be cutting into time that your broker could better spend
going over his research or otherwise monitoring the market.
What is Securities Fraud?
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