This means they get compensated not according to how well your portfolio does, but by how often you trade. The best way to choose an investment professional is to start by asking your friends and colleagues who they recommend. As you become a more sophisticated investoryou can graduate into stck more of your money yourself. Does the broker offer: Along with making smart investing decisions with the aid of tools and resources, maximizing your total return involves managing costs. They're interested in quick and dirty gains based on short-term price volatilityand they make numerous trade executions over a short time span. Watch how fast their site loads and check some of the links to ensure there are no technical difficulties.
This week, Rowene in Oklahoma thinks how to pick a stock broker firm 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. How do I go about changing stock brokers? 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 whether it works or not. Unfortunately, a lot of brokers press pretty hard for your business from the time they say hello. And we mean any questions -— no matter how basic they may seem. The responses to these questions will tell you a lot about a prospective broker. One of the most important questions is: how -— and how much -- do they paid?
And brokers rarely volunteer this information. Most brokers who are managing your account -— advising you which stocks or funds to invest bbroker —- get a fixed percentage of the account total. Bdoker as your stocck grows, so does their fee. But they may also get paid extra fees to steer you to funds or investments offered by their firm. You don't want that: pifk want someone who picks the best investment -- regardless of where it's coming from. Some brokerage firms also steer their customers' stock transactions to their own trading desks to generate commissions.
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: before you hire a broker, check with securities regulators in your state. 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 ot 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. How often can a person file Chapter 7 bankruptcy? If I file Chapter 7 on people who have loaned me money, and I later form a LLC, and get them now "invest" in the LLC, can the LLC then file against them? We have no legal expertise in bankruptcy law.
I have often wondered: what is the brpker tax burden on the average household? There are a lot of hidden and buried taxes in products we buy and those that we use: gasoline, telephone, electric and water as well as consumer goods that contain the taxes that corporations must pay as well. I have ho seen this figure computed. There are how to pick a stock broker firm ways you could come up with this number, but our favorite is the stoco calculation done by the Tax Foundation known as Tax Freedom Day.
This year, Tax Freedom Day came on April 17, which means it took days worth of your annual income or In Ohio, your Tax Freedom Day arrived on April 14, just in time to file your virm. Of the total, 38 days labor go to pay income taxes, 30 days bro,er 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 picck.
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. Jump to story headline. How do I find a dirm stock broker? See brokdr latest rates around the country. Get a few names. And then go talk to them. Finding a good broker is a lot like finding a good doctor.
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How to Choose an Online Stock Broker
The Top Online Trading Firms for A discount brokerage firm with $ per trade. How to Pick the Best Online Stock Broker. Picking a Broker Choose your stock market middleman wisely. Brokers? Who needs 'em? is the link between you and the stock exchange. What does a broker do?. How to Choose a Stock Brokerage Firm. James Yeo | March 27, At the At the Motley Fool Singapore.