Who's the best to work with?

Find a broker who can talk to you on your experience level. Start slow. Don't chase last year's yields. They mean nothing now.

Vanguard is the best I've worked with by a stretch.

I jave limited experience but have accounts at Edward Jones for myself and kids. My great aunt and uncle had a few different brokerage firms with their business and said they preferred the personal attention they got from Edward Jones. I'm using their broker now. When I started showing my daughter her account and she got worried when the markets droped and she lots 10 k I made an appointment with our broker and he told her e everything I did but it put her mind at ease and keep invested. I don't think the guy I spoke with from Merrill lynch would have would have gave her the time of day.

She didn't lose if she didn't sell. Values just go up and down.

And is what I told her. Also if she had moved it to cash it would be inflated away.

What really got her to stay invested was when Jimmy ran the #'s and told her if she does not add a cent to it and gets a market average of 10% over time when she is 60 she will have 750k.

What’s in it for them?

How do they get paid?

Commission?fees?

I'm using Fidelity I buy a lot of t-bills and cd's. Also use a few mutual funds.

Fidelity

I did have TD Ameritrade but Charles Schwab bought them out.
I can still buy and sell in a minute without the broker.

I have been running several T-Bills, 5.25%+ on a 90 day bill this year.

What do you want to do within the account.?What are your goals?

Are you an investor, trader, speculator ?

Stocks, options, futures, mutual funds, bonds, currencies ?


Some brokers are better than some others for the things their platforms offer and their technology.

Then again, you may not even need a brokerage account depending on your interests

Fidelity done well for me last 20 yrs so far.

The bulk of our securities are now with Thrivent Investments. Thrivent is a fraternal investment organization. Our financial person we feel is very well qualified and available.
We are in our mid-70s so our plans are different than many who are younger. We meet 2 times per year and also touch base between as needed. We are looking to change our holdings from higher to lower risk the next years, which typically means lower returns. We also want to have our investments re-balanced every 1-2 years so we don't get skewed too far one way or the other.
Got a CD 3 days ago and the interest rate had dropped from 5.1 to 4.75% in 3 days. With the fed indicating lowered rates for 2024 it has already started the decline in rates over 6 months.
Still the cash or interest options are better now than the last decade, even with our inflation when one considers our age and other income streams. We have been re-characterizing some deferred accounts and buying ROTHs the last 4-5 years while the tax rates are lower. The negative thing about dividends and interest is the tax rates are higher than capital gain, so managing taxation versus risk is time well spent.

Bryce

I did for the first time a callable cd. It's 10%. Never heard about it till 2 weeks ago. It's long term but the guy told me they usually get called within 2 to 3 years. I want to invest some money for long term, but able to liquidate if necessary. That's why I'm thinking a brokerage account. That's why I'm asking here first. New territory for me.

Well probably any of the traditional brokerages mentioned above will meet your needs. Fidelity, Vanguard or Schwab. Compare minimums and fees before deciding.


I am just curious. What is the first callable date on that CD ? Also what is "long term" on the same CD ?

I went to Edward jones. Had 200,000 I wanted to invest . Man they were so nice. Laid out an impressive portfolio. Agent had just got back from their company HAWAII conference.
Came down to their fees . BOOM. At the present yields THAT day it was going to take 4.3 years just to make back the money they were charging me. Nah . That conference had to be funded somehow !!!
I went with LPL financial. 5 bucks a transaction. Mostly in Cd"s at 5-5.35% Didn't invest in any callable. Staggered the maturity dates. Broke it down into 5 different CDs. 3,6,12,18,24 months. Last cycle rolled 2 into one at 5.45% . Figured the rates would drop. Biden has to have 1 thing he can mumble about !!!!

I really believe that all of us have the ability to make these decisions on our own. No reason to pay some middleman to make those decisions.

There is a whole world of educational stuff at no cost on line or at the library. It costs nothing for you to read.

If you don't have time or the discipline to DIY then perhaps an advisor might be worth it. Maybe.

Have faith in yourself

X2 White17. Have faith in yourself.!! Teach yourself discipline and patience. Lots of very good reading. Exactly costs nothing.

Thank you White17 for sharing with us. Much appreciated!!!!!!!!

Charles Schwab, you can open a brokerage account in 10 minutes and manage your own account. When
you hit or if you start with $5000 you can sign up for them to manage it for you. You can also check with your
local office for extensive plans. Very reasonable all around