Based in Morris County, New Jersey, The Daily Record reviews the best brokerage firms in the brokerage world. He cited a recent survey by Smart Money magazine, which placed him as a Fidelity Premium Broker “, Trade King as” Best Discount Broker “, and Merrill Lynch as” Best Full-service brokers.
However, the Daily Record newsroom reacted by Warren Boroson directed that the investigation may be of the three brokerage firms are no longer sufficient trackers for brokerage services, as it is not suitable for day traders or those who buy only mutual funds. Consequently, the Smart Money study and rankings solely on buy-and-hold customers, based in equities, bonds and mutual funds, people are covered by a $ 50,000 account, and those who want to write call options.
However, the ranking of the top broker by Smart Money has always based in accordance with established quantitative and qualitative criteria. To determine the best brokerage firms, Smart Money sent their reliable field reporters to open brokerage accounts in 14 potential brokerage firms. The reporters bought and sold various types of securities asked the customer service business phone and e-mail, check their account statements and tax, and as control over the sites, as in some of the measures in the survey.
Please note that the Smart Money study also included supplementary standards to the best brokerage firms more accurately or to determine the best possible approximation to come with their help. These included the size of the brokerage firms of the Commission, investment, banking, trading tools, level of research and customer service.
And the results – Fidelity, Merrill Lynch and Trade King, three # 1′s. In addition to Fidelity in the honor as “Premium Broker” are E * Trade, Charles Schwab, Banc of America Investment Services, TD Ameritrade, Wells Trade and Vanguard. Vanguard, as explained by Smart Money came last because it is for fund investors held shares of the investors.
Trade King grabbed “Best Discount Broker” although it is the broker-newcomer. Following the example are Firstrade, OptionsXpress, Muriel Siebert, Scottrade, and Wall * E. ThinkOrSwim
In the “Best Full-Service Broker”, Merrill Lynch by the long SmithBarney, Edward Jones, AG Edwards, Wachovia, Morgan Stanley and UBS. Merrill Lynch marked version of last place in the first year, Edward Jones, because under the average, a stock-picking. Other special determinants of Smart Money for their “Best Full-service brokers” outside the brokerage firm stock-picking are customer satisfaction and trust, and instructions used.
Overall, the Daily Record Smart Money survey recognizes the best brokerage firms. These can serve as a good guide for busy people or the decision to operate in the brokerage, and also as a good policy direction for the assessment of self-company broker himself warning. The study results are worse than this year’06 – Just for the record.
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