Don’t be afraid to grill your broker
Investors may feel that the relationship with their stockbrokers is a bit one-sided. As a customer and the person paying the fees, the investor should think about asking his broker a number of questions and perhaps calling the shots a bit more. There are 12 questions the investor should consider asking a broker:
Do you invest in the stocks you recommend?
Do you have relationships with the companies whose stocks you recommend?
If I don't trade regularly – will you still value me as a client?
What commitment do you want to get my business to begin with?
What's your customer priority – will I be your first call, the 10th or the 50th?
What are your fees?
Should I consult other brokers as well as you?
What are your qualifications and track record?
How do I begin building a portfolio? What do you define as a good return – and over what time-frame?
Will you do my thinking for me?
Can you get me an allocation in an IPO?