I first became interested in stocks when I received the money to get a stock for Christmas one year. My parents had already set up a meeting with our broker and from then on I have been into my stocks. At the time our broker worked for a different firm, but now he works for Salomon Smith Barney, which is much closer and I think much better.
Personal Broker- My broker had the best information possible for me. I told him what I wanted, small investment, and hopefully large returns, and he gave me my options. He never pressured me to select one stock over another or so on, he just gave me what he felt would work best for me. So once I selected one of the stocks that he suggested, I just sat back and watched the stock continue to do well over the years. His advice was right on the money, and continues to be years later. This is what I value over internet trading the most, the personal broker. On an internet trading site you might invest in a stock because you like the company, or maybe you did do research and have found a stock that you feel will perform well, but you still might not have great success. A broker knows what he is talking about, because he has experience and education on the matter.
This is a great example of why I will probably stick to a personal broker and not trade on the internet. I have invested my stocks in a broker, and my stock has split three times since I have had it, and my profit has more than doubled. My parents on the other hand, preferred to try out internet trading and found quite different results. While they did do a little bit of research, I feel some of their selections was based on companies they liked. Their stocks have gained little or none at all, while mine continues to prosper. It is worth a little extra money to talk to a broker and see what is going on.
Website- If you have gotten the information from your broker and want to continue to trade the stock, the website is a great tool (www.salomomsmithbarney.com). The site is well designed and fit for all my needs. It has everything you need, yet is easy to find. Market reports, market news, your portfolio, bill pay, trade, wireless service, stock and bond search, and many more features are found on this very resourceful site. If you trade frequently and need a certain stock sold right away, this site is the place for you. With SSB you can have it now with the internet site, or talk with your broker and put in a trade later.
Customer Service- The office at SSB is a friendly, comforting atmosphere. It is easy to schedule appointments, and even better, you get in to see the broker when you are scheduled to see him. I had to wait little, or none at all past the time I was scheduled to go in. The secretary and other workers were all very sincere to me. Very great customer service to say the least.
Honesty- If you think that brokers are just scums out to get your money and make any profit possible, than SSB will prove you wrong. I went in to talk with my broker about the progress of my stocks, and long term issues. I was relatively sitting back with my stock and just letting it grow, with no intentions of selling it. With this is mind, my broker recommended that I take my shares out of SSB and place it in a bank, where the stock will continue to grow as it does on the market, but where I will be free of fees from the brokerage. This was very nice and honest of the broker to give me the best possible solution, without getting his needs in the mix. It is very odd, in any business, to find one to suggest you to a different method or place, that does not involve them gaining money. This was a class move by my broker, and for that I will always recommend SSB for trades in the future, and will use it again when the opportunity arises.
Recommended: Yes
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