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Finding The Right Brokerage Firm For You - Articles Surfing
Are you looking for a brokerage that fits your style? Have you hesitated because you*re not sure how to begin? Check out this guide for some hints to uncovering the right brokerage firm for you.
Brokerage Firm Hint #1: Decide what you want/need before shopping around.
Before you ever begin looking for a brokerage firm, make sure you understand your own personality when it comes to finances. For example, how risk averse are you? Do you throw money at potential investments with gusto, or are you hesitant to even play a $1 slot machine, thinking that your buck could buy a candy bar? You must know who YOU are before you can ever schedule an appointment with a broker; otherwise, you'll never be satisfied and it will actually be more difficult for him or her.
Brokerage Firm Hint #2: Shop around.
Even if you fall in love with the first brokerage you visit, you really need to evaluate at least one or two more brokerage firms before deciding with whom to work. This is for your own benefit as well as the benefit of the brokerage firm. After all, if you start working with one brokerage firm and suddenly come to the conclusion that it doesn*t reflect who you are as an investor, it'll be difficult and even costly to remove yourself. It's better to investigate many brokerage firms when you*re just starting out; then, you can make an informed choice.
Brokerage Firm Hint #3: Ask for references.
When you decide on the brokerage firm with whom you*d like to work, ask for references before giving them any money. Then, follow up on whatever lists or names they give you. Ask their clientele how satisfied they have been and whether they would choose that brokerage firm if they could do it again. Listen for hesitation or any phrases that appear to be *canned* or even outright lies. And if your gut tells you something is wrong, it probably is.
Brokerage Firm Hint #4: Ask questions and be honest.
Once you*ve chosen a brokerage firm, you need to make sure that all your meetings with your broker (or brokers) are efficient. Be open and honest and ask plenty of questions right off the bat. Any broker worth his or her salt will be happy to answer any inquiries and will follow-up over the phone and via email. Remember that if you*re not forthright, it'll be tough for your broker to make the best suggestions to you. Instead, be upfront from the *get go* and you'll reap the benefits.
Brokerage Firm Hint #5: When you find one that works for you, refer your friends.
If you find a brokerage firm that absolutely knocks your socks off, you'll want to share your find with others. Make sure you do so frequently; not only will that be good for the brokerage firm, but they might give you a discount on some future service if you bring a lot of business through their doors.
Copyright © 1995 - Photius Coutsoukis (All Rights Reserved).
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