Superior Gold Group - When To Walk Away from a Broker

Brokers hold a lot of power

Brokers hold a lot of power. They have the ability to earn you money or lose your money. For that reason, they must in most areas of the world hold some form of licensing. But there's a lot more to choosing a broker than just ensuring that he's licensed. When do you know it's time to avoid a broker, or walk away if you're already doing business with him?

Does he return your calls? If a broker won't return your call for simple questions, then how can you rest assured that he'll do so when you really need him? Your money is extremely important to you, right? You don't want someone handling your money if they won't even return your calls.

Does he have an office? A broker should have an actual office, as it should be rather concerning if someone who handles your hard-earned money does so from their home. The financial industry is a big one, and there is no reason that there shouldn't be a bona fide office location where you can easily contact your broker.

When it comes to something as important as money and investment, you want the person who handles your money to be accessible and trustworthy. If a broker isn't willing to answer questions, or isn't available to do so, then that could be a red flag that he or she won't be available at a critical moment.

These days, the Internet makes it possible for anyone to invest. Companies such as ShareBuilder make it possible to invest without a broker. Of course, this means that you do all the research on your own. When you invest with a broker, they make all the moves, which means that you need to contact them if you want to buy or sell a stock. If your broker isn't available, then your order wouldn't be executed.

It's also important to have a reliable, licensed broker when there's a problem. Legitimate brokers won't mind you visiting them at their office with questions about a statement or other document. If you find that a broker treats you like an intrusion or a problem, then it is likely time to move on.

The bottom line is handling your money and the commissions that come with it is a privilege that no broker should take lightly. If a broker starts treating you like anything less than a valued client, then it's time to look elsewhere, because it is your money he or she is dealing with, and in that vein, they work for you.

It doesn't take much effort to research a broker, and if you find that your current broker isn't working out, then it's well worth the time to find someone who will meet your needs and desires. Think of it as a race; if a broker doesn't want to help you cross the finish line into successful retirement, then it's time to call a time out and find a new runner.

Superior Gold Group - When To Walk Away from a Broker

By: Superior Gold Group

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