Broker Marketing Trade

Broker Marketing Trade

Broker Marketing Trade

Many years ago the New York Stock Exchange did a one question survey of investors: "Why do you deal the broker you do?" The overwhelming answer was "I know him/her, I like him/her and I trust him/her." Little has changed since then in that regard. Perhaps you are solicited by them or you find them, picking the right fit is very much like picking the right investments for you.

How Many?

There is no rule that says you only get to have one broker or firm. Many investors do in fact have multiple brokers for the same reason you have more than one investment. It pays to diversify. Brokers are like anyone else; each brings their own interests, talents and level of expertise.

How many brokers you might have is also a function of your level of affluence. To have a small amount of money at many different firms is as counter productive as having too much at only one. Do what is comfortable for you but be realistic.