Stockbroker - Let's find one
Gone are the days when your stockbroker was a middle aged man in a pinstriped suit sitting in a stuffy office.
With the advent of phone brokering and online trading, it is likely you will never even see your stockbroker.
But before we get into the nitty gritty perhaps it is worth finding out what a stockbroker actually does.
It would seem very simple - the idea is the stockbroker buys and sells shares. But believe or not there is a little more to it than that. It's all to do with service.
If you want the bells and whistles, then you might go to a discretionary stockbroker who will invest the money for you.
But you will pay – and dearly - for this service. In most cases you will need tens of thousands of pounds to invest before a discretionary broker will even look at you. Increasingly, these days it is all the rage to do the research yourself and pay an online stockbroker such as Barclays Stockbrokers, Halifax, or E*Trade to buy and sell stock.
There is a middle way. By employing a traditional stockbroker you get investment advice and help with share purchases and access to shares that are sometimes difficult to trade.
For more information click on the link below.
In this section we'll take a look at:
- What does a stockbroker do?
- Discretionary stockbroker
- Execution-only stockbroker
- Traditional stockbroker