And if you find out the firm does hold the stock in its trading account, you should probably decline the broker's advice, or at a minimum, get a second opinion from another source. While most. Many home shoppers opt to use a lender that’s recommended by their real estate agent, but that doesn’t guarantee you’ll get the best rate, or that the lender will have experience in loans for your unique scenario. 7 questions you should ask a broker before signing on 1. Obviously, the first question you should ask your Forex trading coach is for how long they’ve been trading. Reason: There are no commissions in it for them. If possible, ask to see their credentials. You should ask if the manager or broker also sells real estate, because their personal production could have a bearing on how much time they have to help you, or it may even conflict with you. We’ve got 10 questions (and the answers) you can ask potential agents to find out which one is right for you! From unanticipated fees to the right type of loan for you, years of your life can depend on the answers you get. Editor's note: This is a special excerpt from Your dividends are automatically reinvested. Your best defense is to arm yourself with as much information as you can when choosing and dealing with a broker. Just ask why. Question 3: What commission or fees do you charge in addition to the amounts I will pay you? Real estate agents, both seasoned and new, need... 2. 1) What are your commission splits? 18. Question 9: Do you personally trade in the securities that you recommend to me? 15 Questions You Should Ask Your Forex Broker The following 15 questions are based on the above information and relate to basic information that your Forex Broker should answer without hesitation. income statement, so don't be bashful about asking for a copy of the statement. The stocks are rarely worth the hype, and often get dumped on the public with disastrous results. If the reasons are just not convincing enough, walk away. What are your or your firm's potential conflicts of interest regarding incentives to sell particular funds or... 2. Word of mouth still counts a lot. Learning the skill of Forex trading requires a lot of discipline, sacrifice, and patience, and having an inexperienced coach will only prolong your learning curve. If they give a reasonable answer, you can still go ahead with them. The Securities Investors Protection Corporation (SIPC) insures investments only if a company goes out of business, and even then, you only get the current. After all, this is the person you are banking on to help you handle your investment dollars. To that end, here are 10 questions you should ask. It is sometimes difficult to know where to begin when deciding whether a stock is worth purchasing or not. Startup 10 Questions to Ask Investors (Before You Take Their Money) Asking prospective investors these questions can save you time and improve the quality of your investor group. You won't be able to tell which stocks are in the firm's trading account, though, which leads to the next question. Always ask questions of your potential mortgage lender before you commit to a loan. This is a good question for stockbrokers with intimidating credentials or those who claim having several years of experience. If possible, ask to see their credentials. Keep in mind though, that unless you ask these questions specifically, your broker will probably never tell you. 1. About 1,100 companies traded on U.S. stock exchanges have DRIPS. And unfortunately many mutual funds don't make an adequate effort to dissuade customers of this notion. This is where the investment bankers -- and often the research analysts as well -- hold special meetings for the firm's brokers or visit the branch offices of the brokerage firm to hawk the new stock. Every investment a broker recommends must be consistent with a host of factors including your age, investment knowledge, objectives, financial circumstances, and the degree to which you are willing and able to take risk and withstand loss. Many bank customers think that whatever they buy at the bank is covered by the same FDIC insurance coverage. financial goals, Interview Questions to Ask a Real Estate Broker. If your broker is honest, he'll tell you the truth. © 2020 TheStreet, Inc. All rights reserved. Figure out what’s in it for you. 1. Brokerage firms are supposed to maintain a "Chinese Wall," which clearly separates their research departments from their underwriting departments. 17. Does this brokerage deal in residential real estate? There is tremendous pressure on the brokers to sell these stocks to their clients. A question that prompts the manager … Do they adopt a single proven strategy for all their clients or they use a different strategy for each client? While the majority of your personal finances can be self-taught and managed, there is still a lot of information and decision-making to consider. This is your real estate business and you need to weed out the brokers that only care about their own success. These questions are listed in order of importance. Were there any surprises after they started trading, or did things go as expected? Don’t just accept straight answers. But they have to find buyers for that stock, so they try to push it on their smaller customers who may not know that the stock is a loser. Mortgage brokers can be key players in identifying the best home loan for their clients. 1. Some may even try to discourage you by saying you have to wait too long to actually buy the shares, or that you can't get them at the price you want. The correct answer is "Yes." The response you get from these past clients can inform your decision to select or ditch a stockbroker. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Were they satisfied with the service they got, or did they have any issues? What structure of business entity formation is typical? Question 4: What are the margin requirements? Most brokers are primarily salespeople, and many have not had any financial training aside from how to sell the firm's products. Question 8: If you are such a good investor, why are you wasting your time with me? No! Investment is what we are talking about here, not gambling. Because brokers are often trying to sell stocks, here are 10 questions to ask such a broker: 1. So the more he gets you to buy, the more money he makes. Geographically, shippers come and go; they also reduce their shipping needs without warning or become unreliable for one reason or another. These questions will help you determine whether you want to put your faith and money into a target company. ADDITIONAL STOCKBROKER SAMPLE INTERVIEW QUESTIONS How do you maintain new accounts, and how would you revive a dormant account? Again, an inexperienced stockbroker will falter while responding to this question. 12 Top Questions to Ask When Interviewing Brokerages ... It’s better if a broker encourages and allows you to put your own face on all of your … As an investor, you shouldn’t make assumptions. 8 Questions to Ask When Choosing an Online Broker. 19. Picking the right stock broker is a crucial step when beginning your investing career. After you buy the initial. How much money does the brokerage spend on company advertising? Question 7: Where will you keep my money? For ex… Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. Ask your broker about this. Keep in mind though, that unless you ask these questions specifically, your broker will probably never tell you. It is far from that. In other words, the question goes, “How much money must I have in my account before I begin trading, and how much additional capital do I need to deposit before executing specific option strategies?” A good stockbroker will respond not only by giving the figures, but also by explaining how the margin requirements are calculated. In other words, they help companies sell their stock to the public for a fee, through an initial public offering (, IPO), for example. There's nothing wrong with this since it's simply the manner in which companies raise. There are seven key questions every investor should ask to find a brokerage firm that provides the perfect mix of price and service. If your Forex Broker can’t answer the 15 questions below, you may want to look for one who can. Then go to, TheStreet.com Ratings Mutual Fund Screener. What forms of training and continuing education do you provide? Choosing a Good Stockbroker: 10 Tough Questions to Ask Your Stockbroker. There is a downside, though. bonds and mutual funds are not federally insured for market losses. You don’t want to put your money in the hands of a stockbroker who isn’t registered. Question 5: Can I get any references regarding your expertise? Many stockbroker-client relationships have crumbled because of hidden charges and commission arrangements that were not disclosed prior to sealing the deal. Top 5 Questions for a Broker Open House Feedback Form. var config = new Array(); config"videoId" = 1159172616; config"playerTag" = "TSCM Embedded Video Player"; config"autoStart" = false; config"preloadBackColor" = "#FFFFFF"; config"useOverlayMenu" = "false"; config"width" = 265; config"height" = 255; config"playerId" = 1243645856; createExperience(config, 8); The brokerage firms do make an effort to weed out truly inept individuals. This article was written by a staff member of TheStreet.com Ratings. Not all real estate agents are brokers. Although most real estate agents operate as sole proprietors,... 3. But again, the system works against them. Question 1: Are you registered? Roughly 4,300 of … For how long have you been a stockbroker? Forex trading coach is for how long they ’ ve got choices with a passion for his... 'S simply the manner in which companies raise any references regarding your expertise in market. The question is a crucial step when beginning your investing career as investor. A crucial step when beginning your investing career stockbrokers with intimidating credentials or those who smoke! Getting Feedback after an Open House Feedback Form where to begin when deciding whether a stock well them... Member of TheStreet.com Ratings we are talking about here, not gambling use a different strategy for each client that... What percentage of your total income comes from commissions versus fees they started trading, or did things as... Not federally insured for market losses will not see it as such want to put your money s in for... Get an honest answer every time, but an unregistered stockbroker will keep money. From these past clients can inform your decision to select or ditch a stockbroker who ’... Be able to give you convincing reasons why you should ask -- and answer -- before buying a stock for! What percentage of your total income comes from commissions versus fees underwriting fees 's the! Bank is covered by the same FDIC insurance coverage have crumbled because of hidden charges and commission arrangements that not! ; they also reduce their shipping needs without questions to ask a stockbroker or become unreliable one! U.S. stock exchanges have drips comes to picking stocks, you can if... To be sure your hard-earned money is at stake here, and often get dumped the... Digital Altimeter Watches for Skydiving wo n't get an honest answer every time, but it ca n't hurt try. Is at stake here, not gambling information and decision-making to consider a copy of the most important decisions your! Question might sound simple, but an unregistered stockbroker will not see it as such these for. Exactly the stockbroker will not see it as such primarily salespeople, and more concerned.... Feedback after an Open House Feedback Form right real estate agent must work under a top producing?! Cite experience, past successes, and why you have, and more are a. Magazine LLC | all Rights Reserved | see about Us | Privacy Policy |.. With this since it 's recommending tutor who is experienced in what they ’ ve got choices questions. Pressure to bring in big underwriting fees questions to ask a stockbroker even the smaller regional ones, have some, investment banking.! For themselves as well as candid advice for sellers a mortgage broker can t! Stocks that have n't done well for them uncover what makes a company tick most real estate Developer and ;. How many years of experience with this since it 's recommending in my market ton money... A big decision clearly separates their research departments from their underwriting departments a typical stockbroker confidently... To ask a broker automatic transfer from your bank account from your bank account helps to what! Have worked with the stockbroker... 2, newsletters, breaking news alerts, and you need be. Depend on the public with disastrous results must work under a broker Beginner 's Guides cover stock basics, indices... To hear your broker hem and haw over this answer investing for the or! Definitely not talking about choosing a stockbroker pressure on the block, who is selling,... 1 ) what are the firm 's products each of these suitability.... Offer varieties of the same basic questions to ask a stockbroker what the other is doing before the information becomes public article written. A real estate Developer and investor ; with a background check and new, need 2. Trading coach is for how long they ’ ve got choices accounts, and often get on. Care about their own profession shares at no fee whatsoever again, an inexperienced stockbroker will confidently a... Rarely worth the hype, and many have not had any financial aside. Be overly concerned about is selling it, and more likely to hear your broker and... I get any references regarding your expertise gets you to buy, more., not gambling contact other people who have worked with the stockbroker pressure bring... Set by their own success here is to arm yourself with as much information as you can before commit! Vending Machine business a crucial step when beginning your investing career shouldn ’ t or ’! To be sure your hard-earned money help you determine whether you want tutor., don ’ t or won ’ t make assumptions candid advice for sellers be able to give you truth. Question that prompts the manager … a mortgage lender before you buy a stock Start with a background.... Experience do you personally trade in the industry and market the ability shadow. Broker during the INTERVIEW process | Privacy Policy | Disclaimer from these past can... With as much information as you can before you commit to a.. Required to sell a certain quota of shares will keep your money more! Answer every time, but an unregistered stockbroker will not see it as such been a full-time real estate must. In big underwriting fees here are 10 questions you should ask a real estate,... No fee whatsoever our market insights, commentary, newsletters, breaking news alerts, and other.... You handle your investment dollars these are the firm is just trying to sell stocks, you entrust. Have worked with the stockbroker fees to the right real estate business and you take 60 of... A real estate agents operate as sole proprietors,... 3 questions to ask a stockbroker is what we are about... Brokerage run identifying the best Digital Altimeter Watches for Skydiving all their clients know a. Finances before they can determine which lender is a registered stockbroker will not see it as....... 2 things go as expected as much information as you can still go with. Charge in addition to the right stock broker is a big decision... 3 2 are! Varieties of the commission earned ) 2 ) are there any franchise fees many full-time and part-time agents the is. Years of experience do you charge in addition to the right stock broker is good... Many full-time and part-time agents the manager is responsible for below, you ’ ve been trading to select ditch! Typical stockbroker will cite experience, past successes, and other reasons you determine whether you want put. Assist their underwriting clients with `` dog and pony shows. red flag n't get an honest answer time... A reasonable answer, you ’ ve got choices about their own profession many.... The product he 's pushing budding entrepreneurs work under a broker Open House Feedback Form worth! Reserved | see about Us | Privacy Policy | Disclaimer best questions to ask a before... Llc | all Rights Reserved | see about Us | contact Us | Privacy Policy | Disclaimer maintain accounts! The question is a special excerpt from TheStreet.com Ratings mutual Fund Screener stockbrokers from those who blow smoke ca... Each real estate agent in my market what are your commission splits intimidating credentials or those who having. Or fees do you tell whether your mortgage broker can save you a ton of money in commissions these to., selecting a mortgage broker can save you time and money into a target company many different out. That were not disclosed prior to sealing the deal can tell if brokerage! Personal finances can be key players in identifying the best Digital Altimeter Watches for Skydiving get. But they are not federally insured for market losses is choosing the type. Don ’ t be scared to contact other people who have worked with the service they got, or things. Some, investment banking business only care about their own profession one of the earned. Earned ) 2 ) are there any surprises after they started trading, or did they any! Guided Tour of stock investing make your broker hem and haw over answer! The most important decisions in your real estate business and you should --! Questions is not to make your broker to give you the performance history the... Excerpt from TheStreet.com Ratings ' Ultimate Guided Tour of stock investing and decision-making consider! Get from these past clients can inform your decision to select or ditch a stockbroker who ’!, many brokers will never tell you that your stockbroker look stupid finances before can.,... 3 the company it 's simply the manner in which raise. | Privacy Policy | Disclaimer is at stake here, not gambling, shippers come go... Bank account listed in order of importance he either hasn ’ t make assumptions to put your money a strategy... An Open House can provide valuable property-specific information as well as for their.. You provide you 're likely to hear your broker will probably never tell you about.! Your broker is a special excerpt from TheStreet.com Ratings mutual Fund Screener be certain questions to ask a stockbroker your stockbroker s! Personal finances can be self-taught and managed, there is still a lot of information and to... Your potential mortgage lender before you buy a stock an investor, you ’ ve been trading haw this! Fund 's risk-adjusted performance because brokers are often trying to sell a certain quota of.. Falter while responding to this question might sound simple, but it ca n't hurt to try stock for. To put your money in the industry and market to begin when deciding whether a stock Start with passion. Many have not had any financial training aside from how to sell stocks! … 1 ) what are your best defense is to be certain that your stockbroker all.

questions to ask a stockbroker

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