There can be few things more confusing and yet more important than good money management. You work incredibly hard for your money and there are so many financial demands on you every month, but you have probably also been told that saving is absolutely essential – and it is. For all people, there comes a time when there will be large expenses, like sending a child to college, or very high medical bills. Then there’s the inevitability of old age and retirement, and providing for that time will make all the difference as to whether you live a happy and comfortable life, or one of constant worry and fear. All of this comes down to careful planning and good investment, but the financial services industry may be a mysterious and scary place to you – as it is for so many people. This is when you need to engage the services of a top independent broker dealer who can review what’s available to you and can try to make sense of the range of investment possibilities.
What is a broker dealer?
These are terms that were coined by the US regulatory system and actually cover two different spheres of investment. A broker will take orders from you as to what to invest in and will carry out the trade, so will help you to buy or sell securities. You might even consider this person an investment or financial advisor if they give you input on what trades you should be making. It largely depends on whether you need advice or whether you have already done your research and simply need someone to conduct the trade for you.
Dealers, on the other hand, are conducting trades on their own behalf. However, most financial firms carry out both activities, which is why they refer to themselves as broker /dealers and they are a vital part of financial markets. If you need to invest, it’s important to try to understand the financial industry or to find a firm that will spend time explaining the mechanics to you, as knowledge is power. You want your money to be working hard for you, so who you choose to work with and where you decide to place your investment money is crucial.
The importance of an independent broker dealer
With some broker dealers, they are tied into an organization and your investment will be limited to the different products they offer. An independent broker dealer surveys the widest range possible of investment opportunities and will try to give you the best advice based on a full spectrum of products. They will be able to tailor their recommendations to your personal needs and it stands to reason that the wider the ambit of investment opportunities, the greater the chance that you’ll find the perfect investment opportunity.
