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The Internet Has Made Money Management Easier

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The Internet Has Made Money Management Easier

While my children will never know what life was like before the internet became popular, I do! I remember the days when you couldn't trade stocks online and most people wrote down their money budgeting plans on paper with a pencil. I have always loved the world of finance and money management, so I love learning about all of the new ways technology helps managing money and even investing easier. I can even research a company online to find out if investing in their stock is a wise decision! I know there are many people out there who get overwhelmed when trying to learn about the world of finance, which I enjoy, so I decided to start a blog to share my finance and money management tips. I plan to post about a wide variety of money topics, so come back often to find something that helps you!

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3 Reasons To Use A Full-Service Investment Firm

12 September 2018
 Categories: Finance & Money, Blog

If you are ready to invest in the stock market, you will need to decide what type of financial entity you want to use to make your investments. You have a few different options when it is time to open your investment account, including a full-service brokerage firm. Full-service investment firms generally have higher fees than other alternatives, but some customers find that the fees are worth it for the additional level of service they receive. Read on to learn a few reasons a full-service investment broker might be right for you. 

1. You Prefer to Visit a Brick and Mortar Location to Conduct Your Financial Chores

Many investors opt to conduct most of their financial chores via the internet or a mobile app. Thanks to the popularity of online investing, many discount brokerage firms have a limited number of physical sites to meet with their customers.

However, if you prefer to visit a brick-and-mortar investment firm, a full service brokerage will have as least one physical location in your area that you can use. The firm seeks to act as a "one-stop shop" for all of your financial needs.

Most full-service brokers accept appointments so that you can maximize the use of your time. During your meeting, your broker can provide financial expertise regarding a number of financial quandaries, including tax questions, retirement planning issues, and questions concerning estate planning. You can also receive assistance with purchasing insurance or taking out a loan.

2. You Are Interested in Investing in a Product with Limited Availability

You might be interested in investing in a fund with limited availability, such as preferred stock, senior notes, or an initial public offering (IPO). If so, you will need to work with a brokerage firm that offer the fund. Full-service brokerage firms typically have divisions specifically for funds that are tricky to purchase.

3. You Want a Hands-Off Investment Strategy

Some investors like to do their own research so that they can select their own funds and understand why the funds are appropriate for their needs. Other investors prefer to leave fund selection to the experts; they only want the knowledge that they are in the right investment for their financial goals and personal comfort level. 

If you want your broker to pick your investment and reallocate your holdings as needed, full-service investment services will connect with a broken who will handle these tasks for you. Full-service brokers can also help you make sure you are in the proper fund for your tax situation or future income needs.