How to Manage an Open Investment Account

Video Transcript

"This is financial advisor Patrick Munro talking about how to manage an open investment account. An open investment account is just that, you as the investor are in control of the investment and its outcome. So it's important for you to monitor the investments that you have chosen on a regular basis. Look outwards away from yourself into the world and see what is happening on the various economic fronts that could be impacted by the stocks that are held in your open investment account. Because it's an open investment account you're able to sell the stocks when they are no longer suitable for the portfolio because the world tides have changed against you and replace them with stocks that are on an upward trend, that's the cost of entering and exiting through trades of your stock positions. This is a way to manage your open investment account that's proactive as opposed to reactive. It requires time, it requires diligence, it requires discipline but the dividends that it pays means that your open investment account will be healthy going forward. This is Patrick Munro talking about how to manage your open investment account."