- my iParenting
- quick clicks
- article archive
- expert q & a
- community & groups
- research baby names
- prepare a birth plan
- content channels
- ip channel rss feeds
- read birth stories
- read parenting stories
- recommended books
- e-newsletters
- safety recalls
- ip diaries
- ip store
- mom of the month
- dad of the month
- editor's letter
- letters to the editor
From Our Sponsors
- e-newsletters
- Sign up to receive our free weekly e-newsletters
- award-winning products
The iParenting Media Awards program helps parents find the best products for their families.
How to Select a Good Stockbroker
10 Tips From the Securities Fraud Hotline
1. Ask your friends and business associates for the names of brokers they use with success.
2. Interview prospective brokers and firms. Do not be tempted to go with the first broker you interview. Remember, the broker will be working for you and you will be paying the broker.
3. Check out the broker and the firm. How long has the firm been in business? What is the background of the broker? How about complaints against the firm and broker? Ask these questions and also get the official report on the broker and the firm at www.nasd.com – for free.
4. Interview the branch manager. Ask him the same questions you ask the broker. If the manager is "too busy" to speak with you, go someplace else. If the manager is busy now, what would happen if you had a complaint later?
5. References are important. Ask the broker for the names of 12 current clients. Call them all. Ask a lot of questions. Good brokers will provide references.
6. Broker product knowledge is critical. Does the broker want to sell you one certain type of product or will the broker propose, in writing, a comprehensive strategy tailored to your specific needs, now and in the future?
7. Commissions count. You are entitled to know, before you invest in anything, the total fees and commissions you will be paying. Ask!
8. Contact your broker regularly, at least once every two weeks by phone, in person once a month, if possible. Do a "status" check on your account often, particularly when a major change in your life circumstances takes place.
9. Statements can be difficult to read.