PATH TO INVESTING
CHOOSING A BROKER
All stockbrokers must pass a qualifying examination and participate in continuing education programs to be licensed to sell securities. But each broker and each firm differs from the others in style and cost. And there may be sustantive differences as well.
Whether you're opening your first brokerage account, your investment needs have changed, or you're rethinking your current relationship with a firm, your goal should be to find a broker whom you trust and with whom you're comfortable working.
One of the first questions to ask yourself is whether you're looking for someone to handle your transactions and provide advice on specific investments, or whether you're looking for an adviser who can help you define your financial goals and make a plan to achieve them. The answer will help you narrow the field to particular types of firms and then to individuals within the firms.
GETTING RECOMMENDATIONS
Most experts agree that the best way to begin your search is by asking for recommendations form your other professional advisers and friends and family who are investors themselves.
If that's not an option, make a list of the firms, large and small, with offices in your area. It's not essential to work with someone who is close by, but it may make it easier to develop a working relationship.