How can you choose a broker?

Finding a broker to provide you with solid investment advice is actually much more difficult than you might think. There are so many brokers but finding one that you like can be challenging as some may be pushy and others may really not suit your investment decisions. You need to really understand your situation and to make a valid decision as to what type of investor you want to be and stick to it. Brokers can get pushy and if you don't like what they are saying, simply don't listen to it. However do know that they do come with a lot of good advice if you will listen to them so it still is important to sit back and allow them to do their job.

Online brokers and the large brokers firms aren't to be trusted. All of them have hurt their customers in one way or another so just plain avoid them. If you want really good advice, you should actually work with the smaller brokers. Companies like Lefavi Wealth Management and other smaller firms are the ones you want to trust. Many of them haves started small and have been able to help their customers earn healthy retirements without needing to really invest a ton of money back into the business and grow it into a huge corporation.

When you are looking for a broker keep in mind that the first meeting you have with them is all a smoke screen. Most of the time they will throw big numbers at you and will really try to impress you with all of the different things about their company. Some may even show you magazine articles that have been written about them and other things. This isn't the service that you should normally expect with them as they are just trying to get you to come back for the regular meeting where you can get down to the cold hard facts.

As you are in the market for a broker look around for someone that wants to work for you. It is important that you hire a person that really wants to work for you and will help you with your financial situation, not one that talks over you or doesn't make you feel important at all. Select a broker that can handle your investments and will be able to make you feel comfortable when you are working with them. Check out their website to see if they offer online advice and other things that will easily help you to make smarter investment decisions.

Once you schedule meetings with several different brokers you then need to talk about some of the details to the account. How much money will you need to open your account? This is a key component of your account as you might not have enough to work with this broker. Usually they want about $500 or more to get started and then a minimum monthly deposit.

How much are the fees going to be for your broker? This is a big one. If you are hiring a broker with high fees, you really need to think twice and you'd better get big results from them. Talk about customer service and how quickly you can expect to hear from them with emails and other things. You should have a speedy reply and if you don't, it may be time to look for a new broker. Will the broker track your tax records or will you need to do this? What are the rules pertaining to round-trip investments along with short-term investments?