Working with an Investment Broker

Your investment portfolio is the key to your savings, your future, and the future of your family. A well-thought-out investment plan with respectable and realistic returns will help ensure that you will enjoy life well past retirement. However, a poorly developed plan will force you to work well into your 80s. The difference between the two may rely completely on your broker and his ability to work for your needs as opposed to his ideas of your needs. It is essential to go about the process of choosing an investment broker from the viewpoint of an educated consumer, taking into account several factors to help you make a decision. Once you approach the process from the viewpoint of an employer, as opposed to the viewpoint of the non-expert, you will find the weeding out process much easier.


Choosing the Right Broker


There are several important factors to consider when choosing an investment broker for your investment needs. First and foremost, research whether or not your broker has the experience to take care of your financial situation. FINRA maintains all the information relating to registered brokers and dealers throughout the United States.  This information includes education, employment history, licensing, and disclosures or derogatory records. This should be your first stop before even choosing to meet with a potential broker.

The next line of defense is to review your potential broker’s customer service record. Contact the company to see how they treat potential clients. Analyze the amount of time it takes for your potential broker to call you back and set up an appointment. Interview them during your complimentary consultation and ask for references. Pay attention to the broker’s willingness to accommodate and answer questions even before you sign.

Once you have decided on a few potential brokers, take the time to interview each broker to see if they are a good fit for you. Ask about their methods of investing. Provide examples to receive some advice. Ask about how they make investment decisions for their clients withyour same circumstances. It is also a good idea to ask about their rate of return and how they can help steer you in the best possible direction for your needs, including retirement options.

Once you have learned about your potential brokers, you must do a bit of self-analysis. First, you need to decide how hands-on you want your broker to be. This will help you determine if you want to work with a full-service broker or a discount broker. The more time and communication you wish to maintain, the more likely you will want a full-service broker. You also may want to ask yourself how diversified you would like your portfolio and whether you would like inclusions of life insurance as well as investments. Utilize these ideas to help make your final decision.

Finally, contactreferences, both those provided by the broker and the references you find on your own. Ask about the reference’s dealings with the broker and whether the broker met his or her needs. Determine if the reference is still involved with the broker or has moved on, and if so, why.

These five tips will help you choose the best broker for your needs and help mitigate your risk. While there is still always a risk when working with anyone regarding your money, the more informed you are, the less risk you are taking as a consumer.

Repairing Damage

Even the most well prepared consumer may find himself the victim of a broker or brokerage firm’s mishandling of money. If and when this occurs, the victim has options to help make himself whole once again and move on to better money management techniques. Cold Spring Advisory Group are experts in loss recovery, helping clients through the litigation, arbitration, and recovery process from beginning to end.

Cold Spring Advisory Group will begin by conducting an extensive case evaluation, determining how the loss occurred, what steps were taken by the broker to help mitigate or prevent the loss, and even if a case can be made to move along in the litigation process. Upon agreement between Cold Spring Advisory Group and its client, a true case analysis will be conducted, calculating loss, broker liability, and other key factors to begin the process of loss recovery.

Once the analysis is complete, case preparation begins. Cold Spring Advisory Group takes the worry off the client’s shoulders and acts as a liaison with the attorney, providing evidence and information as well as valued suggestions throughout the entire arbitration and litigation process. Should the issue be one that affected numerous customers of the broker or brokerage firm, Cold Spring Advisory Group will advise a group of litigations to join together to make for a stronger case, providing additional details to aid in the analysis of the claim, as well as the loss recovery for each member of the group.

Finally, Cold Spring Advisory will track the progress of your claim, keeping you well informed of each step of the process and its outcome. To learn more about Cold Stone Advisory Group and how their experts can help you recover your losses from a broker’s mistake, contact their experts today at 212-566-6060.

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