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Nick
Nick asked in Business & FinanceInvesting · 5 years ago

What type of stock brokers are there?

Is there a type where you can give them a certain amount of money, who will then take it and buy and sell stock for you and then keep a certain percent for themselves?

Thanks!

3 Answers

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  • shipwreck
    Lv 7
    5 years ago

    You can pay an investment adviser but doing it yourself is wiser. Say you average a 4% return on a million dollars invested you get 40K doing it yourself or if you pay a 1% fee you get 30K. The adviser might spend an hour or two a year for 10K and not make a cent more for you or even lose for you or churn your account so cost you huge fees to lose money.

  • Daniel
    5 years ago

    It is actually illegal to charge a fee based on a percentage of gains. So hopefully you wouldn't find anyone like that. You might want to look into Mutual Funds.

  • Kenny
    Lv 7
    5 years ago

    Vanguard has an excellent reputation .

    Source(s): https://investor.vanguard.com/financial-advisor/fi...
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