Choosing an Investment Club Account Broker

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When choosing an investment club account broker, conduct research on several companies to find the one that brings the most benefit, not just best cost, to the table. Find an account broker who will keep the club's profits in mind with information from a portfolio manager in this free video on investing.

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Video Transcript

Certainly, four or five or six or ten minds are better than one. Hi, I'm Roger Groh with Groh Asset Management. And today, we're here to talk about investment clubs. What are they? Well, those are groups of people that have come together to discuss various investments and then actually pool money and go out and make investments. The big thing here is once you've made a decision to buy something, where are you going to do it? How are you going to pick a broker to help you? Well, whether you go to Charles Schwab or another discounter or whether you go to Merill Lynch or to Goldman Sachs, in my mind, the biggest thing would be what does that group bring to the table? You, as an investment club, the one thing that you're going to struggle for the most is research, so it may not be just price per share that drives the decision as to where to put your money and where to do trades. It may be the overall benefits from working in a company that really determines which is which. Research really does matter. Many analysts have come out of the operating side of industries and really get how companies are driven and when they are profitable and when they're not. They will save you an awful lot of time and effort and money if it's done properly, so don't focus necessarily on share price and don't focus necessarily on commissions per share. Focus on really what the broker brings to you, as an investment club, in overall benefit. I'm Roger Groh. That's a little bit about how to pick a broker for your investment club, and thank you very much for spending time with me.

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