Full-service or traditional brokers do work that is perfectly in line with their name. They strive hard to proffer a number of services to the investors who have got accounts with them. Whenever you get your account opened at any brokerage house, they allocate a representative to the account of the investor. This representative is normally referred to as a registered rep, an account executive, or a financial advisor. These people normally have got the securities licence which means that they are registered with the SEBI or NSE or BSE. They are well- conversant with knowledge concerning stocks especially and investing by and large.
There are a lot of full-service brokers in the financial market. Surely, almost all the best stock brokers in India at present own full-featured websites to offer the investors more information regarding their services. Gain a good amount of knowledge and information prior to opening the account.
Stockbrokers can perform a lot for you
The financial advisor holds the responsibility for aiding you, replying queries concerning the account plus the securities within the portfolio and also carrying outsell and purchase orders. Below are enumerated a few things that the traditional brokers accomplish for you:
Proffer guidance & counsel
The largest dissimilarity amid discount brokers and the traditional brokers lies in the area of individual attention you will get from the registered rep. In the books of the full-service broker, your name must be on the priority list and you ought to divulge all most the complete information concerning your money and financial aims. The account executive is always present there to impart advice regarding finances and stocks that may be conducive to you.
Offer access to research
The traditional brokers provide you access to the department that deals with investment research that offers you detailed information and all-inclusive analysis on any specific organisation.
Aid the investor to obtain investment goals
Any better financial advisor will try to learn more about you and your financial objectives. After that will give counsel and reply your queries concerning particular strategies and investment vehicles that may be useful to fulfil your money-making objectives.
Stockbrokers can take decisions for you
It is the practice of a lot of investors not to be troubled at the time of making decisions about investment. The traditional brokers are in the capacity to make decisions on your behalf for the account which is often called as a discretionary account. This sort of service is very good but make it certain that the stockbroker discloses his choices of investment vehicles to you.
Be careful of
Though the traditional brokers, by their unlimited help are capable of rendering life trouble-free for the investor, you are needed to bear in mind a few points so that to avert any untoward circumstances.
Anytime the account executive imparts advice or suggestion, make it definite to inquire about its feasibility and ask for the entire answer that must include the logic behind the counsel. A better financial advisor is capable of making clear the reasoning working behind the counsel. In case you cannot comprehend it and agree to go with his advice, never do it.