| There are several reasons you may want to find a | | | | research reports, etc. |
| stock broker. You could be looking for a job, wanting | | | | 4) What is your risk tolerance? Your broker needs to |
| to invest internationally, or simply switching stock | | | | know this for the "Know Your Customer" rule. |
| brokers because you don't like how you were | | | | 5) Does your broker need to be local so you can |
| serviced by your previous broker. To be better | | | | meet face-to-face? |
| prepared, here are a few things you should know | | | | 6) What is your experience in the markets, especially |
| (and have available) before making that call: | | | | the assets/derivatives in which your broker |
| Looking For A Stock Broker Job: | | | | specializes? Your broker needs to know this for the |
| 1) Have you pursued many of the online forums and | | | | "Know Your Customer" rule. |
| brokerage firm recruitment services? | | | | 7) Are you familiar with the choices for order routing |
| 2) Which NASD licenses do you currently have? And | | | | and extra transaction costs (e.g. ECN fees)? |
| are they registered properly? | | | | Finding An International Broker (in addition to the |
| 3) Do you have any compliance concerns which show | | | | items listed above): |
| on the NASD (now FINRA) Broker Check website? | | | | 1) Know the specific reasons why you need to |
| 4) Are you up-to-date with your continuing | | | | contact an international broker. |
| education? | | | | 2) Are you aware of any legal constraints about your |
| 5) The facts and figures about your current book of | | | | investing internationally? |
| business, how many customer leads you have (which | | | | 3) Are you aware of the risks due to currency |
| you are allowed to bring with you after clearance | | | | fluctuations? |
| from your compliance department), and other | | | | 4) Are you aware of any additional taxes you may |
| industry benchmarks. | | | | pay after liquidating positions internationally? |
| Finding A Domestic Stock Broker: | | | | 5) Are you aware of all transaction costs? |
| 1) What is your available capital currently? | | | | 6) Do you know how to instruct your broker on how |
| 2) Your net worth, liquid net worth, and any income | | | | to "mark" your order, such as with a CFD designation |
| you stand to gain - such as a bonus. You do not | | | | or execute the order only during the "auction |
| have to disclose all of these, but it helps for YOU to | | | | market" session? |
| know them about YOURSELF! | | | | While these questions are rather basic, and there are |
| 3) What you want the broker to do for you: make | | | | many more basic questions, they hopefully will serve |
| stock picks, give you overall financial plan, help you | | | | as a reminder of what you need to determine |
| with a certain asset class, be available to talk to you | | | | BEFORE calling a brokerage firm. Answering these |
| by phone whenever you call (or will e-mail suffice), if | | | | questions will go a long way toward making you |
| you need "hand-holding", offer your direct access to | | | | educated so that you find a stock broker right for |
| the markets (like daytrading software), give you | | | | you. |