To keep track of your interviews, it’s a good idea to prepare a summary of your impressions and keep it with your notes, especially if you’re talking with a number of brokers over several weeks.
You may find that the choice is obvious, even before you’ve finished your search. Or you may have to draw up a balance sheet to choose between candidates. If it’s that close, you may find that it helps to review the services and fees of each broker’s firm.
Here are some questions you might want to ask yourself as part of the decision process:
Did the person:
Treat you with courtesy and respect?
Listen carefully to your questions and answer them candidly?
Checking references
Clients who agree to be references for their brokers are generally those who are satisfied with the service they receive. But you may be able to find out useful information if you ask to talk to clients with similar financial experience, circumstances, or goals to your own. You should also ask to talk to both recent and long-term clients. Be aware, however, that brokers aren’t legally required to provide references.
You should expect the brokers
you interview to be professional and honest, especially if you’ve
been referred to them by people you trust and they have the appropriate
credentials. Nevertheless, be wary of any broker who:
Guarantees you’re going to make a lot of moneyInsists that an uninsured investment has little or no riskAdvises you to put all of your money in one investmentRecommends investments you don’t recognize, and doesn’t try to explain them clearly, or says they’re too complicated to understandArgues with you or ignores your instructionsIs vague about the commission or fees he or she will earnAsks you to sign any documents you haven’t fully read or don’t fully understand
