OCT 5: Online Stock Trading Sites & Brokers

by David Jenyns on October 5, 2006

Whether hiring an online stock trading site or company to manage your portfolio or doing it on your own it really doesnít matter so long as it works for you. But if you need some help with your stocks you should know what a company can do for you.

Manage Portfolio

With the ability to manage your portfolio the online stock trading site Killik & Co. is designed to provide investors that have a minimum investment of £100,000, with a structured portfolio of funds and equities made to meet their investment objectives. They will monitor your portfolio, make the necessary changes to remain structured and meet your objective. You will have time for other activities while they take responsibility for your investments.

First thing you should do is to establish your attitude to risk and your investment objective with your personal broker. To make the right decision you might need the help of your broker because of the complexity of the investment world.

You will have to complete a client profile because usually clients have different objectives and aims for their investments. Using the information from your client profile, your broker will advise you which investment strategy is the best for your needs. Your attitude to risk is also very important because they should know if you are willing to tolerate more risk in order to get higher returns or you want to protect the value of your existing capital.

After you establish your investment objective your broker will make an investment plan that will cover all existing investments that you may have. After this your broker will assume responsibility to manage your portfolio. Keep in mind though, no one looks after you money as well as you do, and the broker will only what they THINK is best. If they lose your money in a bad investment, you take the loss, not them.

It would be a good idea to meet with your broker at least once a year to check the portfolio and see if your investment plan is still appropriate, more often if possible, depending on the size of your capital.

Build your own portfolio

Having your portfolio managed by a specialized online stock trading site or company may be a good idea especially if you are a beginner in trading. But you can also build your own portfolio, and it is easy to find companies that provide lists of mutual funds such as Mutual of Omaha. By investing in any fund, totaling 100 percent, you can build your own portfolios, but you have to assume the responsibility to diversify the funds, allocate the assets and rebalance the portfolios.

If you donít have enough time and knowledge, getting an online stock trading site or company to managing your portfolio can be just the thing for you.

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