Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Should I Switch Brokers?

Should you switch? That depends. If you're not satisfied with the service you are receiving, would like more investment options than your current broker offers, want to cut down on fees (or pay more, for some bizarre reason), or are enticed by one of the freebies you see being advertised, then you should consider switching to a broker who better serves your needs.

And, of course, if you're using a full-service broker, then you know how we feel, don't you? It's time to start doing things for yourself.

The mechanics of moving an account are pretty simple, and your new online broker will provide forms and procedures for making that transfer. Don't forget to ask about any account transfer (or opening) fees -- from both your old broker and your new one. If you wish to transfer only part of your account -- that is, transfer some money from an existing account without closing it out completely -- contact your old broker to get a check cut for the portion of money you wish to withdraw.

And if you're switching from a full-service broker to a discount one, don't let your old broker talk you out of taking control of your own money.

Read/Post Comments (1) | Recommend This Article (20)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On August 10, 2008, at 1:49 PM, prginww wrote:

    Yes, I did post a "reply" probably accidentally 'cuz I'm brand new. Where did my comment go? I was in a discussion group and the member was asking about finding a good broker?

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 557253, ~/Articles/ArticleHandler.aspx, 10/22/2016 8:21:51 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 11 hours ago Sponsored by:
DOW 18,145.71 -16.64 -0.09%
S&P 500 2,141.16 -0.18 -0.01%
NASD 5,257.40 15.57 0.30%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes