Selecting a Brokerage account

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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