Home Page

Search Winona Post:
   GO   x 
Advanced Search
     
  Issue Date:  
  Between  
  and  
     
  Author:  
   
     
  Column / Category:  
   
     
  Issue:  
  Current Issue  
  Past Issues  
  Both  
   Help      Close     GO   Clear   
     
  Wednesday October 22nd, 2014    

 Submit Your Event 
S M T W T F S


 

 

 
 

| PLACE CLASSIFIED AD | PLACE EMPLOYMENT AD |

| Home | Advertise with Us | Circulation | Contact Us | About Us | Send a Letter to the Editor |
 

  (ARCHIVES)Back to Current
For brokers only (03/29/2006)
By Al Thomas


     
Would you like to have more time for golf, fishing, the wife and kids? Just doing what you want with no pressure from a know-nothing boss? Well, if you keep following what Wall Street teaches you are NOT going to make it and you will have a lot of unhappy customers.

Did you ever think about making a change that will give you all those things and have hundreds of clients who think you can walk on water and at the same time make more money?

It can be done.

If you were a broker in the year 2000 you saw your clients, many of them friends and relatives, lose more than half their savings. Not a single person in upper management at your brokerage company would give you a clue to help save the money those folks had worked so hard for. Not one. In fact when you asked they told you they didn't know what to do. Common sense would have given the answer.

That answer was to have the investors sell and put their cash in a money market account. It is a well known fact that brokers who did that were fired so you could not.

A few brave souls did quit to become independent brokers. Many of them started their offices at home. It really doesn't make any difference where the office is because brokerage is basically a telephone business.

The few who quit learned the number one rule of the market, "Do not lose customers money". If there are losses they must be kept to a minimum. The broker has to study the proper use of stop loss orders something that Wall Street not only does not teach but discourages. They don't give a flying whistle about the little guys' equity. And you know it. Until a broker can counsel this method he will never be able to build a fee-based business.

The broker must educate his customer. Once the customer understands he will become a great source of new clients. Over a period of time the broker will have more clients than he can handle.

Complex technical analysis is not necessary. Morningstar "research" will become a thing of the past. There are many books on technical analysis, but most are complicated and take a while to master. Learning a few simple stop-loss rules for protecting a client's money from big losses are all a broker needs to know.

Brokerage houses never want customers money in a money market account because they don't make a return. Office managers fire brokers who tell customers to sell when the market or a stock is declining. There is no thought to protecting the customer. A simple stop-loss order would have saved millions of dollars that could have been invested when the upturn started again.

This broker was a hero.

If he had advised customers to sell in 2000 and just stayed in a money market or bonds until 2003 he would have a much fatter paycheck today.

Think about becoming independent. 

 

   Copyright 2014, Winona Post, All Rights Reserved.

 

Send this article to a friend:
Your Email: *
Friend's Email: *
 Submit 
 Back Next Page >>

 

  | PLACE CLASSIFIED AD | PLACE EMPLOYMENT AD |

| Home | Advertise with Us | Circulation | Contact Us | About Us | Send a Letter to the Editor |
 

Contact Us to
Advertise in the
Winona Post!