Expert: Paul Henneman - 2/27/2008

Question
I am an investor of many sorts and do my stock and mutual fund investing with Morgan Stanley, and I’m getting tired of the fees I have to pay my financial advisor for selling, buying and trading of stocks.  
I’m thinking of opening an account with an online trading company, and was wondering which ones are the best choices?  I like dealing with long term assets and investments (over 2 years), and buy every month, but only sell or trade a few times each year.  
Which online company is best for me?  How much initial investment is recommended?  

Answer
Chris,
   Thank you for your question! Unfortunately there is no clear answer to this, it depends upon how much service and research you want to have access to. For example, www.TDAmeritrade.com, www.Scottrade.com, and www.Etrade.com have decent pricing, but offer a fairly good selection of research, and also have good service and support.  www.FOLIOfn.com offer much less research and service, but has lower fees for your trading.
   I would suggest that you take a look at all four of the websites I mention above, and select the one that you are most comfortable with and offers the level of service and research you are looking for.

I hope that this helps, please do not hesitate to follow up with me if I can be of any additional service,

Best Regards,
Paul Henneman
President
ValuEngine Inc
www.ValuEngine.com