The Wall Street Journal had a nice article on Opening Your First Investment Account.
- Don’t just open your account with anyone offering you a free IPOD.
Although free IPOD’s are great, its not necessarily in your best interest.
- Figure out how much hand-holding you require.
Do you need to go full-service[full commission] or discount brokerage?
- Will you be buying securities or mutual funds?
Most brokerages charge different amounts for these and some are cheaper for one while being more expensive for the other.
- Are there account minimums or extras for opening an account?
Basically look for junk fees.
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