A healthy number of Hoosier investors still value the advice, personal service and investment direction that they get from a full-service broker
In order to make the other members feel more comfortable about picking stocks, the group chose to work with a full-service broker
who could provide a little hand holding.
It said that, unlike a full-service broker
, these administrative actions (following the trade date) should preclude trade date accrual because they represented such a substantial proportion of Schwab's overall activities.
About the same proportion use a full-service broker
At first, unsure of their investment acumen, the club members emphasized mutual funds and relied upon a full-service broker
Although they claim less need of hand-holding, we found that nearly 70% of our sample continue to use a professional adviser, who is most likely to be a full-service broker
or an independent adviser," Thompson said in a statement.
As different as their approaches are, the paths Thomas and Proctor took lie like a fork in the road that each new investor eventually comes to: do you call your own shots and trade through a discount firm, or is it better to rely upon a full-service broker
to handle everything from which stocks and funds you collect to when you buy and sell investments?