Do we really need a Broker - Discussion

hawklk · 1 Do we really need a Broker - Discussion Sun Aug 07, 2011 8:00 pm

hawklk

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Do we really need a broker or the so called financial advisers?

I never get any advice from these blood sucking leaches. Evil or Very Mad

Expect for settlement. I do my own transactions online. So in the age of computer technology, can't we remove them from the equation and have them as an option. I really do not get any benefit back for the 1.28% I pay.

In general, a broker buys and sells on the behalf of the clients. I am being a client, the broker does not do anything on my behalf expect send me a transaction advice and collect the commission. Mad

Can't SEC handle the investor through an elaborate system between SEC-> Investor->Investor Bank and keep these Brokers as an option for the investor.

Can anybody with the inside knowledge of broker firm explain this.

rijayasooriya · 2 Re: Do we really need a Broker - Discussion Sun Aug 07, 2011 8:07 pm

rijayasooriya

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hawklk wrote: keep these Brokers as an option for the investor.

That is a good suggestion with current technology.

dashika rebekani · 3 Re: Do we really need a Broker - Discussion Sun Aug 07, 2011 8:19 pm

dashika rebekani

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@HAWKLK

hey buddy,

dont become that much frustrated,,, all the brokers are not very same. I know where i work how the brokers are advising ti there clients!!!

Buddy im an investment adviser.i worked as a trainee, and since i started my senior's advice was always be in touch with client and always advice them when they need. because this is their money so they have right to know whats happening!!

now im an investment adviser. So im always going after the way my seniors instructed me.

But the very same complain is coming from so many investors who coming to transfer their PF to me.I dont know why those brokers are doing that way?? if that so SEC should take some disciplinary action against them..

rocksan · 4 Re: Do we really need a Broker - Discussion Sun Aug 07, 2011 9:11 pm

rocksan

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Very timely Thread I must say, in a world and a country where only money matters no wonder brokers become blood suckers. I think we should openly criticize companies who harbor these kind of people.

I have also got caught to couple of traps where i bought stocks when in there peak now i do my own investments and looking for a good company and a good broker

Note : My investment company is Capital alliance

Deva · 5 Re: Do we really need a Broker - Discussion Mon Aug 08, 2011 10:48 am

Deva

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Dashika, could you pls name the company you are working for. I too need a right thinking advisor.

SalliMalli · 6 Re: Do we really need a Broker - Discussion Mon Aug 08, 2011 3:07 pm

SalliMalli

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dashika rebekani wrote: @HAWKLK

hey buddy,

dont become that much frustrated,,, all the brokers are not very same. I know where i work how the brokers are advising ti there clients!!!

Buddy im an investment adviser.i worked as a trainee, and since i started my senior's advice was always be in touch with client and always advice them when they need. because this is their money so they have right to know whats happening!!

now im an investment adviser. So im always going after the way my seniors instructed me.

But the very same complain is coming from so many investors who coming to transfer their PF to me.I dont know why those brokers are doing that way?? if that so SEC should take some disciplinary action against them..

I would also agree 200% if not more on this thread. I started about 2 years ago and the only deal my broker did was the investment of my hard earned initial fund on two crap companies at about 20 rupees higher than market price. As a new comer I didn’t know what to do except waiting in anticipation that the prices will go up and it never did. Finally i decided to sell them off at a loss and started trading on my own.
I really want to change my broker but I was told that i can have only one CDS account.

Any help would be greatly appreciated.