3 Key Questions to Ask Your BrokerSubmitted by AssetGrade, LLC. on December 27th, 2013
submitted by Patrick Cote on December 27th, 2013
A number of people have told me that they are not sure how well their broker is doing. If you are in the same boat, here are three key questions (and related follow-up questions) to send your broker in writing:
- Which services (e.g., planning, investing, etc.) do you provide to people like me? Which ones have I received? Which related services are not provided?
- How much do you charge for the services above? What did I pay for them in 2013? How much did you make out of my account(s) in 2013, and how much since I first became a client?
- How well have you delivered the services? How do you measure your success?
A good broker will provide the answers, in writing, without making you sort through lengthy documents to figure out the answers. You might have a better sense of the answers to the questions above if you are working with an RIA (Registered Investment Advisor), like AssetGrade, especially if they are fee-only.