| "Financial education needs to become a part of our | | | | The high price guys usually have research people |
| national curriculum and scoring systems so that it's | | | | working for them. They have an accurate picture of |
| not just the rich kids that learn about money.. it's all | | | | how the stock market is doing and are able to |
| of us." -David Bach | | | | predict, to the best of their ability, what the stock |
| There are several different types of brokers which | | | | market will do in the future. This type of advisor will |
| an investor can utilize. Broker types range from high | | | | suggest what he thinks is best in terms of your |
| end and expensive financial advisors to an online and | | | | investment plan. Beware that often high price brokers |
| automatic broker which is pretty cheap. Financial | | | | will push stock that their own company has a stake |
| advisors are useful for people who lack the | | | | in. Make sure your investment decisions are right for |
| knowledge needed to invest in the stock market. It | | | | your and not just filling the pockets of your advisor. |
| is definitely a bad idea to invest with out knowing | | | | The discount broker is someone who wants you to |
| investment basics and having a financial plan. | | | | do your own research. He may or may not offer a |
| Brokers can work with you to educate you and give | | | | list of stocks he feels are good investments. When |
| you options in your investments. Full server brokers | | | | you figure out what you want to invest in and how |
| work at a large firm that has access to an incredible | | | | the you left the discount investor know and he will |
| wealth of knowledge and research. This is why they | | | | do the paper work. |
| are so expensive. Online brokers are the cheapest | | | | Online brokers are pretty new. You can access online |
| because they charge almost no commission fees and | | | | brokers through the world wide web. Brokerage |
| you have to do your own research. | | | | websites offer access to a number of research |
| For each type of investor there is a particular type | | | | databases, charts, graphs, and market tips. However, |
| of broker that fits their needs and budgets. Below is | | | | you are basically on your own. You buy and sell your |
| a list of common broker types and a bit of | | | | stocks when you want to. There is very little |
| information about each. It is important to point out | | | | interaction between you and the broker. |
| brokers can be hired just to give advice and help you | | | | Online brokerage firms work well for some people |
| get together a plan. They do not have to be used | | | | because they can be access twenty four hours a |
| for investment purposes after you feel confident | | | | day and 7 days a week. |
| enough to invest and research on your own. | | | | |