Picking your first broker

5 stars based on 32 reviews

This week, Rowene in Oklahoma thinks it's time to dump her stock broker and find a new one -- but she's not sure how to go about it. In Ohio, Roger is trying to find out just how much the average American pays in federal state and local taxes.

Finding a good broker is a lot like finding a good doctor. You need to spend a little time first to find out if you like them -— and trust them. A lot of what makes the relationship work is the chemistry, and only you can decide how do i choose a stockbroker it works or not. Unfortunately, a lot of brokers press pretty hard for your business from the time they say hello. So make it clear from the top right after: And we mean any questions -— no matter how basic they may seem.

The responses to these how do i choose a stockbroker will tell you a lot about a prospective broker. One of the most important questions is: And brokers rarely volunteer this information. Most brokers who are managing your account -— advising you which stocks or funds to invest in —- get a fixed percentage of the account total. So as your account grows, so does their fee. But they may also get paid extra fees to steer you to funds or investments offered by their firm. How do i choose a stockbroker don't want that: Some brokerage firms also steer their customers' stock transactions to their own trading desks to generate commissions.

So take the time to find out where your money is going. Sure, it takes a little more work to interview several brokers first. After this column was published, we heard from a state securites regulator in Vermont who made an excellent suggestion: You can find out if the broker is properly registered, how long they've been in business and whether or not they have a record of complaints or diciplinary actions.

You can find the address and phone number for the securities regulator in your state at the North American Securities Administrators Association's Web site. We have no legal expertise in bankruptcy law. There are a lot of hidden and buried taxes in products we buy and those that we use: I have never seen this figure how do i choose a stockbroker.

There are several ways you could come up with this number, but our favorite is the annual calculation done by the Tax Foundation known as Tax Freedom Day. This year, Tax Freedom Day came on How do i choose a stockbroker 17, which means it took days worth of your annual income or Uncle Sam gets 70 days worth of income 19 percent and state and local government gets the rest Of the total, 38 days labor go to pay income taxes, 30 days to pay federal and state insurance programs like Social Security and unemployment insurance.

Sales and excise taxes eat up 16 days of your paycheck, property taxes cost you 11 days of labor, and corporate taxes represent 9 days. After rising steadily through the s, the average tax burden peaked inwhen it took until May 3 or Thanks to tax cuts and the recession ofthe tax burden fell sharply, but it began rising again last year. How do I find a good stock broker? Get a few names. And then go talk to them. Most active discussions votes comments. More Personal finance stories.

Search Most popular on msnbc. Popular stories currently unavailable Top videos Popular videos currently unavailable. View rates in your area.

Binary options ladder signals join our training

  • Level 2 quotes scottrade options

    Strategies to predict binary option

  • Binary calculator mlm

    Mbfx binary options trading signals

Matlab crop binary image edges

  • Option trading journal template

    Standard chartered trade brokerage charges ups

  • Online stock market trading brokers in india

    Testimonials of the binary lab review

  • Moodle review options trading

    Price action patterns trading options

Forex o que significa sonhar com cobra coral

34 comments Trading technologies futures brokers uk

Equityoption trader salary

Eur-lex. europa. Scenar 3a je zalozeny na vysledkoch externej studie a predstavuje iba referencny bod na posudenie v pl yvov moznosti 3b a 3c.