There are many things to consider before deciding where and how to invest your money—how much you can afford to put into your investments, asset allocation, your comfort level when it comes to risk—but many investors overlook the potential costs involved. Periodically, investment and brokerage fees will be deducted from your account, reducing the amount of money ‘at work for you.’ If you don’t do your homework, and ask the right questions, excessive fees can take a toll on your investment returns.
The types of charges vary from firm to firm, but may include:
That’s not to say you’ll be charged all these fees, but they are possibilities.
Common sense ways to reduce trading fees, some based directly on the questions listed above.
Investing, in and of itself, can be a risky endeavor, even at the best of times. But there are outright frauds and scammers out there, just waiting to separate you from your money. Investment fraud hits Americans to the tune of $10 to $40 billion dollars per year, and part of that involves fraudulent fees. It’s a good idea to make continually checking your statements and keeping an eye on your investments a habit. Watch for fees and commissions that seem out of the ordinary. Here are some common scams to watch for:
If you feel you may have been the victim of investment fraud, the attorneys at ChapmanAlbin are here to help you. Call us for a free consultation.
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