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How to Choose the Right Investment Broker

by Steve Patterson on Thursday, June 23, 2011 8:44 PM

An investment broker is a company or an individual who is responsible for buying or selling investments such as stocks and bonds. Individuals who work in this field often have a degree in business or finance and are required to pass a series of test to obtain a license to sell financial securities. Therefore when it comes to investing, many people prefer to hire an investment broker to act to their behalf. Here are some steps you should take when choosing the right investment broker for you and your family.

Determine Your Investment Need

Before you start your search for an investment broker, you should first determine what type of investment services you would need. Some of the common investments selected by individuals are stocks, bonds, and mutual funds. Once you narrow down what services you are looking for, you should look to select someone who will provide you with the best service as possible.

Select the Type of Broker Needed

There are several different types of brokers you can select from such as a discount broker, an online broker, or a full service broker. Most people prefer to use a full service broker because they offer their customers advice and tips on the best investment to meet their needs. Because of this service, they often charge more than other non full service brokers. If you prefer to choose and research your own investments, then a discount broker may be a better option for you.

Do Your Research on Brokers

Once you know your investment needs and broker type, you should start making a list of the potential brokers you may hire. Some people prefer to use broker companies and others prefer to use individuals. You should talk with friends and family who have investments to see who they are using and get their opinions as well. If you want to set up a meeting, you should check and see if they have a local office.

Interview Your Top Choices

After you have made your list, you will need to narrow down your selection to the top three to five choices. You should schedule a telephone interview or meeting to talk with the broker about your investment needs and see what they have to offer. It would be wise to make a list of questions you may have about the services, fees, and commissions in advance.

After you have your interviews, you should be able to select the best candidate on your list. It is important to select a broker who you feel comfortable with and can trust completely with your money.

About the Author: Tanya is a full-time writer and blogger with a passion for personal finance, investments, and other money-related niches. She is also a regular contributor at

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11 comment(s) so far...

Anonymous 6/28/2011

after reading the post i think i am fully capable of choosing right investor broker.<br /><br />Aileen Simon

Anonymous 6/28/2011

Consult the people you trust and who have already dealt with this shpere.

Anonymous 7/1/2011

Good to know Steve! Your tips can help every business man who inclined in this field. Trust is the best part knowing who to deal with is a big help. Thanks!<br />

Anonymous 7/1/2011

There are specific things you must understand regarding bonds before you start buying them. Not understanding these things may cause you to purchase the drastically wrong bonds, at the drastically wrong maturity date.

Anonymous 7/1/2011

its good approach that you know your broker well and thats the reason you can earn more

Anonymous 7/12/2011

As we mentioned, brokers make money by charging a commission on each trade. The amount a broker charges varies greatly between discount and full-service brokers.

Anonymous 7/16/2011

I think Each firm has a unique set of terms and conditions, which will affect your trades and investments.

Anonymous 8/8/2011

When it comes to investors, one thing is true; they all have to deal with brokers. It doesn't matter if you are involved with penny stocks or looking towards long term stock options, you are going to have to associate yourself with a broker that fits your needs.

Anonymous 8/8/2011

Really its great post.What a power in ur blog!I can select the best and right investors broker.

Anonymous 12/2/2011

To find out a good broker , I think firstly we have to understand what a broker's quality is then by taking their interviews regarding that can help in such situation.<br />

Anonymous 2/9/2012

An investment broker really matters a lot.Our profits or loss in investment relies on his skill so he must be wisely chosen.You have really shared a great post. <br />

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