Background: I am from Singapore, where you have to trade "through" a stock broker even if you make the trades yourself through the internet. The broker bears the financial risk of an investor trading beyond his means for the brokerage house. The brokerage house gets a commission from every trade, and the broker gets a cut from that.
The old broker (OB) I've stuck to so far is quite hardworking, and will take pains to send me news on my some of my companies, macro news, and send me reminders when I forget to pay. FIL is also a stock broker who is kinda laid back and doesn't try to keep me updated with news. When I ask him for information he usually just tells me to search on the company website.
My wife is pressuring me to switch to her dad as my broker, but I don't like the idea. Since I am kinda paying for the broker fees, I expect some form of service, which I do get from my existing broker. I also am a little apprehensive about letting my in-laws know my full portfolio size. I am 30 but have managed to accumulate a 200K USD portfolio after paying off student loans. I don't want my FIL or worse, my MIL or SIL to know. They are freaking materialistic.
Submitted October 31, 2018 at 10:32AM by pocketaces27 https://ift.tt/2CRsdnU
