Ask Terry Questions Finding the right Brokerage for investments

Finding the right Brokerage for investments

By Terry Savage on February 28, 2019 | Financial Planning / Retirement

Hi Terry….listen to you all the time on Steve Bertrand’s show!
I’am presently with Benjamin F. Edwards & co. ….started out with a broker that I really liked and trusted…then he retired. The man I have now, I never hear from and I’ve never really felt comfortable with. I have no idea what I pay him to handle my accounts. My only conclusion is ..maybe my account is too small to be bothered with’s 500,000. My question is would I be better off going to like Vanguard or Fidelity….are their costs less? I’m 73 with health issues…I want it to be in a good place for my two daughters. Thank You. any help is appreciated!

Terry Says

Whoa — wait!  I can see that you’re out of touch with your money.  I’m guessing that you are at AG Edwards — Not Benjamin F Edwards!  And if so, y you are likely paying fees and commissions — to someone who has not promised to put your interests ahead of his own.

But more importantly, $500,000 is a LOT of money — and you should be on top of it.  And at your age, you really need a plan that includes not only investments but things like a will or revocable living trust, plans for long term care, etc etc.  That means you need someone you can trust to not only look over your investments but look at your entire financial picture — and what happens if you are incapacitated, and how your daughters would access your finances.

Are you computer savvy enough to go to by clicking this link — and having some fun answering the questions!  It’s not about your existing money but about your goals and situation — so you can be matched up with a planner who can help and whom you can trust.   If you aren’t comfortable with that, please write back and since you are in the Chicago area, I will give you a couple of names you can trust.

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