Comparing Brokers
Planning to buy a few hundred--or even a few--shares of stock? You would be wise to do a little comparing of brokerage fees and services. The cost of trading can vary widely among investment houses--sometimes even among ones that provide comparable products and services to investors. But in some cases, the cheaper alternatives simply won’t offer the services--such as research reports and advice--that you might need.
Here’s a work sheet to help you compare three brokerages:
Stock to be purchased:
Number of shares:
Per share market price:
*
Brokerage No. 1:
Trading fees:
(yes or no)
Provides investment reports?
Gives needed and valuable advice?
Answers questions about financial markets and/or asset allocation?
Is helpful and responsive?
Understands and accommodates your specific investment needs and goals?
*
Brokerage No. 2:
Trading fees:
(yes or no)
Provides investment reports?
Gives needed and valuable advice?
Answers questions about financial markets and/or asset allocation?
Is helpful and responsive?
Understands and accommodates your specific investment needs and goals?
*
Brokerage No. 3:
Trading fees:
(yes or no)
Provides investment reports?
Gives needed and valuable advice?
Answers questions about financial markets and/or asset allocation?
Is helpful and responsive?
Understands and accommodates your specific investment needs and goals?