Sun. Sep 27th, 2020
The pros along with cons associated with full time service brokers

Full time service brokers are just like their name indicates. Their main objective is to provide as much as services as possible for investors who open accounts with them. The moment you open an account with a brokerage firm a representative is assigned to you.  They are termed by various names like account executive, and the background of this person, is that they have a security license. They have a concise idea about brokerage calculator and the type of stocks you want to invest. Some reputed names offer full time broking services and their features are displayed on their official website. You need to be well informed before you are planning to open an account with them.

What are the services you can expect from a full time service broker?

The stock broker is responsible for setting up your accounts, clearing any doubts or answers any questions that you possess as part of your account and help you in buying and selling stocks. Let us now go through the services which a full time broker can provide you

Offers advice and guidance

The major difference between a full time broker and a discount broker is the personalized attention you end up receiving. With a full time broker you end up disclosing a lot about your financial goals and objectives. They are there to guide you about the recommendations you can make about funds or stocks that aligns with your portfolio.

Provides inputs as part of research

The full time service brokers provide steady access to their research department. In fact they can provide in depth analysis about the performance of a particular company.

Goes a long way in helping you to achieve your investment objectives

The full time broker studies your case in depth and clearly understands your financial objectives. They are going to help you devise a strategy which will help you to achieve your financial goals. A combination of all them helps you to build your wealth in due course of time.

Help you to make investment decisions on your behalf

For many investors they do not want to be bothered as far as investment decisions are concerned. The best part about a full time service broker is that they can make decisions on your behalf with your authorization. This is a normal practice, but makes it a point that the broker explains the finer points to you.

All is not a bed of roses in the choice of a full time broker as there are some points you need to keep an eye on. First and foremost the brokers are sales people. No matter whatever strategy you adopt they are going to be compensated by the revenue they earn for the company. They are going to generate commissions on your behalf for the company.

Secondly do not follow the full time service broker blindly. Whenever they make a suggestion ask them the reasons for the suggestion and clearly explain the logic behind each decision.

By jyoti

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