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What services can a Brokerage Firm offer?

Home » Investing » Selecting a Brokerage Firm » What services can a Brokerage Firm offer?

Customer service. Research a Brokerage Firm’s service before you sign up. This will include website performance and interface. If talking to a live person is important, test their phone service. And you may want to see how the Brokerage Firm does at sending you the relevant material you request.

Banking services. If you want to consolidate, choose a Brokerage Firm that can accommodate your banking needs. Cash may earn higher interest rates in a brokerage money market account than a typical savings or checking account. Many brokers offer:

• Money market sweeps

• Check writing and bill payment

• Visa cards

• Direct deposit

• ATM cards

Research. Some Brokerage Firms perform research which is a real plus. That's fine, but you may not want to pay for it. There is a lot of research available on the Web.

Variety of selection. There are a number of investment vehicles, so see what a Brokerage Firm offers. Choices, including mutual funds, options, government bonds, corporate bonds, and over-the-counter (OTC) bulletin board stocks are not available through every brokerage. Determine what you expect to need.

Methods of executing trades. Check out whether the brokerage firm has touch-tone phone trading, on-line trading, or other. Sometimes you might want to place an order through a real, live person.

Next Page: What kind of account should I open at a Brokerage Firm?

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