Brokerage

A brokerage firm or a broker should work towards wisely investing the funds of the client in different investment options in order to maximize profits. Apart from thorough professional knowledge, data interpretation, market analysis and understanding the trends in the market, a broker should have good communication skills. A broker should use his expertise but conform to the needs of the client.

A brokerage firm must always be transparent, clear, prompt and effective in communicating with the client on various aspects. The firm is in custody of the client's funds. It is imperative that the firm keeps the client informed at all times of the fund status. Keeping the overall goal of the client in mind, the options chosen on the client's behalf must be communicated. A feeling of not knowing where, how or when the client's funds are invested is a clear sign of unhealthy communication.

The broker working on behalf of the client should have trading qualities similar to the client. An aggressive client should be served by an aggressive broker. Alternately, a safe player should have a safe broker. It is then that the goals of the broker and the client will match.

Accessibility to one's trading account to get frequent updates on the fund and profit status should be a priority. This ensures transparency in functioning. With most firms and brokers being online, it is easier to know the account status on a minute to minute basis also.

One should engage a firm or broker depending on one's own requirement using references, information from forums, and online checks.