There are many benefits in using a stockbroker. Individuals, investors, traders and businesses can all use help, guidance and advice when it comes to managing their money. Stockbrokers are regulated professionals often referred to as Registered Representatives.
A stockbroker can offer advice on how to invest, grow, manage and mainatin your money. Stockbrokers are trained in this and have access to some of the best professional advice by some of the most educated and seasoned minds in the financial business.
A stockbroker can and will execute trades for a client/customer. A stockbroker can submit stock, bond, mutual fund, commodity, option, CDs and Treasury Bond buys and sells. A stockbroker can also complete for a customer tender offers, reorganization items, odd lot offers and more.
One of the biggest benefits of using a stockbroker is record keeping. A stockbroker and his firm will keep records of trade confirmations, monthly statements, year-end tax reporting statements, deposits, withdrawals and any activity that has occurred in an account for at least seven years.
Those new, inexperienced, or even experienced can learn a great deal from a seasoned and professional stockbroker. A stockbroker can provide insight and help a client learn about the advantages, disadvantages, risks and rewards of many different investment vehicles.
If a client has a conflict or complaint with their stockbroker, he can take it up with the firm at which the stockbroker is employed. No complaint will go unanswered and a quick and satisfactory result is the outcome all parties wish for.
Rules and Regulations
Rules and regulations govern stockbrokers and all must adhere to these standards. There job is to help you keep and grow your money while acting ethically. Their good business sense is rewarded in many ways when clients are happy and serviced.
- Money Extra, Benefits of Using a Stock Broker
- Stock and Share Market, Stock Broker Rules and Regulations
- U.S. Securities and Exchange Commission. “Report to the Congress: The Impact of Recent Technological Advances on the Securities Markets.” Accessed May 28, 2020.
- Indeed. “Learn About Being a Stockbroker.” Accessed May 28, 2020.
- Nasdaq. “Death of a Stockbroker.” Accessed May 28, 2020.
- The Princeton Review. “Stockbroker.” Accessed May 28, 2020.
- Indeed. “Everything You Need to Know About Becoming a Stockbroker.” Accessed May 28, 2020.
- FINRA. “Enroll for a FINRA Exam.” Accessed May 28, 2020.
- FINRA. “Securities Industry Essentials (SIE) Exam.” Accessed May 28, 2020.
- FINRA. "Series 7 – General Securities Representative Exam." Accessed May 28, 2020.
- FINRA. "Series 53 – Municipal Securities Principal Exam." Accessed May 28, 2020.
- FINRA. “Series 63 – Uniform Securities Agent State Law Exam.” Accessed May 28, 2020.
- FINRA. "Series 66 – Uniform Combined State Law Exam." Accessed May 28, 2020.
- Fidelity. “Commissions, Margin Rates, and Fees.” Accessed May 28, 2020.
- Charles Schwab. “We Believe Price Should Not Be a Barrier to Pursuing Your Goals.” Accessed May 28, 2020.
- FINRA. "Statistics." Accessed May 28, 2020.