Unhappy with Your Brokerage Account? Here Are Your Next Steps
Why You Need to Reassess Your Brokerage Account
Some people open their first brokerage account and stick with it for a while. But in time, you may come to realize you didn't choose the best account in the first place. Perhaps your brokerage account isn't the most user-friendly. Or maybe there are fees that exist in your brokerage account, like an inactivity fee, that you can get out of paying elsewhere.
Consider Moving Over to a Brokerage Account with Fractional Shares
If yours is in the latter camp, you may want to move over to a brokerage account that offers fractional shares, as that could lead to better diversification in your portfolio.
Your Alternatives
- Open an IRA: A traditional brokerage account gives you more flexibility than an IRA, but IRAs have tax benefits that could be advantageous.
- Talk to a financial advisor: Seeking advice from a financial advisor can help you make better investing decisions and find a brokerage account that suits your needs.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.