Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Okay, so I am still gradually learning-but now that I am at school, it's tough to put aside my work to read a book about investing-so this site helps out some...even though I find myself spending too much time on here. So anyways, do you think it is necessary to have a broker to deal with your portfolio? Especially when taxes come? I don't know, I thought you could do most of this stuff online and be okay?! Just not to clear on this topic, it's like I hear brokers are completely the wrong way to go then someone else will tell me you have to have a broker when dealing with lots of money (which most likely I will be dealing with some...)I know its my choice but it is such a big choice...


Dear sheilac101,

As the previous poster responded, full service brokers serve their purpose. Their job is to give advice about potential investments, and you, as the investor, pay dearly for it. Here is a good article about Full Service Brokers:

http://www.fool.com/dbc/qa/fullservicebrokers.htm

On the other hand, a financial planner is someone who has knowledge of a wide variety of financial topics. They can often help you sort through tough money questions. That said, we like planners who don't promote investments, because there could be a conflict of interest.

I would recommend you read this article about choosing a financial planner, so you understand what they do, and why they can help you:

http://www.fool.com/retirement/retireeport/2001/retireeport010416.htm

Our hope at the Motley Fool is to provide you with all the tools so that even the toughest financial decisions area little easier. I know you're in school, but if you need help, stop by FoolMart to see our offerings. I know you'll be glad you did. (Click the 'FoolMart' tab at the top of the screen.)

Fool on! Happy Labor Day.

Karen Kosoy
TMF Karen

Coming Tuesday! The TMF Money Advisor!
http://www.fool.com/landing/ma/preview.htm?ref=topnav
Print the post  

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.