Use a Broker to Whom You Are Important

Whether buying or selling, there are distinct advantages to finding and doing business with long-term-oriented stockbrokers who recognize that it is in their interest to build and maintain mutually beneficial relationships with clients. 

• If customers feel that their best interests are being served and that brokerage commissions are a secondary consideration, long-term relationships are likely to ensue. 
• By contrast, brokers who charge exorbitant commissions or routinely recommend trades designed more to generate commissions than investment profits will eventually lose customers. 

The challenge is to find one or more brokers with whom you feel comfortable. 

• An appropriate broker will possess a balance of experience and desire, a commitment to the investment business, and a willingness to sacrifice immediate commissions for the sake of  long-term relationships. 
• You want a broker with sufficient clout within his or her firm to provide you with access to analysts and traders, one with experience to handle your account properly and to know when to call you and when not to waste your time. 
• You don't want a totally inexperienced broker who is learning at your expense, a complacent broker satisfied with mediocre results, or one so successful that your account is relatively unimportant. 

Michael Price and Bill Ruane would have no problem capturing the undivided attention of any broker; they would be very important clients for anyone.

• Other investors must work harder to find one or more brokers to whom they will be important clients. 
• One possibility is to develop a relationship with a fairly young but capable broker to whom your account is currently very important and one who will gain importance and clout within the firm over time.

Comments:

I may have to look for a few more brokers to find out more.  :-)