There are basically two types of stockbrokers. The first is a
full-service stockbroker. This type of stockbroker gives you advice and
recommends specific stocks that will fit your needs. They will
generally sit down with you and discuss your financial goals, how much
money you have to spend and other financial information that helps them
determine what you need. The other type is known as a discount
stockbroker. This type of stockbroker buys stocks at discount prices,
and generally offers deals, but does not necessarily offer stocks that
fit your specific needs. It is very important to know this difference
and choose the type that fits you best.
Before sitting down with a stockbroker you should review your financial
situation. Decide before you go talk with a stockbroker, how much risk
you are willing to take, how much money you can spend, and your
financial goals. This will help things go more smoothly when talking to
a broker, and help you avoid making quick decisions that you may regret
later.
The next step is to look at different firms and get information about
their services, costs, and commission charges. Find a firm that fits
into your needs. You also do not have to use the first stockbroker you
talk to within the firm. If you do not feel comfortable with them or
feel pressured by them you can request to have a different stockbroker.
Once you have found a good stockbroker it is always important to
remember that this is your money, and no matter how much you trust your
stockbroker you should keep yourself informed, and should always feel
like you are in control.
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By: Larry Klein Posted: Dec 12 2005 02:13:31 PM