How To Choose The Best Full Service Stock Brokerage Firm

I loved looking for investments in the stock market. Finding “gems” was something I loved doing. Finding a stock to invest in that increases in value over time is not easy … and I soon found out the hard way! Almost all of my investments have failed in one way or another over the years.

I finally decided that I needed to stop doing my own securities research and get myself a good full-service securities brokerage company to help steer me in the right direction. The fact is, most ordinary people are not good at making investment decisions, especially decisions about the stock market. We just don’t have the training to make a good investment in the stock market!

One option a common investor has is to hire a professional investment advisor. The problem is that professional investment advisers will generally not hire a new client unless they have at least $ 200,000 to invest; And that is a minimum amount. Most of the time they won’t take you seriously unless you have at least $ 1 million or more.

It’s not about you, but I don’t have $ 1 million or more, so for me the best route is to hire a full-service brokerage firm. I think most people don’t know which one of these companies is or what they can expect to get when it comes to service, so I thought I would write a little article today to explain how to choose a good full service stock broker.

Here are some basic questions you can ask your stockbroker to determine how well they will work with them and how good they are at their job.

First ask them how long they have been stockbrokers. When it comes to Wall Street, experience matters and the longer your stockbroker has been in the industry, the better off you are. Try to stay away from stockbrokers who are fairly new to their job and by that I mean they have only worked for less than five years in the industry.

Then ask them how long they have worked for the specific company. Stockbrokers who jump from one company to another are a clear indicator that they may not be as professional as you want them to be. Good stockbrokers stay with companies because companies pay to keep them. On the other hand, bad brokers quickly get the start.

Then ask them what types of clients they have. Do they have the same income level as you and have the same general amount of money to invest as you do? This is important because you want to deal with a stockbroker who works at your level. If they target people with much more money, then their account may tend to be swept under the rug.

Then ask them if they specialize in any area. Some brokers focused only on growth stocks, while others focused only on income related stocks, and finally some focused on small cap stocks or emerging market stocks. Knowing what area of ​​interest your stockbroker is interested in can be very important.

Finally ask them what their attitude towards risk is. The stock market is all about risk, and if you have a broker who takes too much risk to handle your appetite, you may want to look elsewhere. On the other hand, a stockbroker who doesn’t take enough risks can be just as dangerous.

So there are several ways to determine how to choose a good full service stock broker.

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