Stockbrokers -'advisory services'

Almost all private client stockbrokers offer an advisory service. This tends to start off with a meeting at which you can discuss your requirements with the broker without any obligation.

There are effectively two forms of advisory service. In one, the broker advises on the purchase, sale or retention of individual stocks but you do not necessarily have to reveal the full extent of your investments.

In the other, you give the broker full details of your investments and in addition to advice on individual stocks and capital gains tax ( CGT ), you will receive regular valuations and advice on your fund as a whole - this is an advisory service which covers your entire portfolio.

When setting up the relationship you'll need to agree the degree of risk you find acceptable and appropriate. And specify your objectives, are you looking to maximise income? Or is capital growth the priority? Or do you want both?

See also: What is a stockbroker? Moneyextra's Sharedealing service

Last Updated: May 2008 © Moneyextra.com

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