Overlay
0
Lenders & Advisors

Do You Need A Full Service Broker?

January 21st, 2013 , Last Modified: January 21st, 2013
Today's investing market seems to be a do-it-yourself affair. For many, though, there is still a great deal of attraction to the idea of a full-service investment broker.

Today's investing market seems to be a do-it-yourself affair. For many, though, there is still a great deal of attraction to the idea of a full-service investment broker. If you are in the one of the three categories below, you might want the help of an experienced professional.

New Investors

If you are new to investing, self-directing an account can be dangerous. There are more rules and guidelines than you might expect, and it is very easy to get confused by bad information. A full-service broker can often help you to navigate the waters of the market when you are new, and his or her fees are usually far less than the money that you would lose if you attempted to go through the process on your own. There is nothing wrong with having help during the early days of your career, and it might be nice to have advice while you are still learning about the market.

Stability Worries

Financial stability is often on the minds of investors, especially if they are looking towards retirement. If you want someone that can help you to invest over the long term, a full-service broker may be just the person you need. Not only might such a broker have access to more products, but he or she may have better advice for helping you maintain a healthy portfolio. While you might be able to plan for your financial stability on your own, working with a skilled broker may help you to do so in a manner that maximizes your retirement earnings while mitigating risks.

Guidance

Of course, even an investor with decades of experience might want a broker that will provide a full suite of services. After all, sometimes it is better to have a professional do the heavy lifting for you. While self-directed accounts are all the rage, there is nothing wrong with working with an individual who has more experience in managing your account. If you do not want to worry about your day to day investments and want to leave them in hands that you trust, you might want to consider using a more traditional investment broker.

There is never a bad time to work with a broker. You might pay more fees, but your risks will generally be lower. While investing on your own might be a good idea for professionals, others might want to seriously consider the benefits of working with a broker.

0 Comments
sorted by
Comments for this topic is now closed