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Mullooly Asset Management

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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Discount Broker or Full-Service Broker Video

July 29, 2013 by Thomas Mullooly

 

A big decision that many investors have to make is whether they want to work with a discount broker or full-service broker. There are plenty of differences between these two types of investment managers. Investors should do their homework and gather all the facts before choosing one or the other. If you need to learn more about discount brokerage firms or full-service brokerage firms, this Mullooly Asset Management video is for you!

For a detailed analysis of what to expect from a discount broker or full-service broker make sure to watch this video. The general differences that exist between these two investment managers have to do with fees and commissions. If you choose to work with a full-service brokerage firm there will be a lot of fees. Brokers at these big firms make as much as 2% when making trades inside of brokerage accounts. They also charge fees for many service based tasks like having an IRA or getting you a check for your gains. In contrast, discount brokers will cost you much less money. A trade typically costs about $10 when placed through most discount brokers. Things like having an IRA, getting a check, or getting a checkbook tend to be free through most discount brokerage firms.

Make sure to watch this week’s Mullooly Asset Management video to learn more about whether you should invest with a discount broker or full-service broker.

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Filed Under: Asset Management, Videos

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

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Wall Township, NJ 07719
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