Why One Brokerage Account Will Cost You

All brokerage accounts have there pro's and cons. Some charge higher in commissions when trading stocks and have lower commissions when trading mutual funds. Some brokerages accounts don't charge you for the first X number of trades but charge a premium for mutual funds.

My question to you is, "Why stick with one broker's pro's and con's when you can stick with broker "A" for the pro's (where they meets your needs for requirement "A" and go elsewhere for requirement "B") and use broker "B" for the pro's where they meet your needs for requirement "B"?"

My personal recommendation: Schwab + Zecco. Schwab allows you the ability to trade mutual funds with absolutely no commissions. They offer you a high yield checking account which is linked to your brokerage account. They reimburse any ATM fee's which you acquire through out the month and you have free checks for month. Your money is always working for you. The have "moneylink" access so you can transfer money in and out of your Schwab account to virtually any other financial institution. Deposit your money in Washington Mutual or Bank of America and consolidate it to your Schwab account and have your money working for you in your high yield checking. They have excellent customer service! Schwab's faults? Their commission fee's. $12.95.

Zecco, as long as you maintain an account balance of $2,500, gives you 10 free trades every month. Following the 10 free trades, each trade is only $4.50. This makes hitting your commission spread much less intimidation if you decide to pull out. They charge a hansom sum for mutual fund transactions. A nice future of Zecco, they allow you to view other traders portfolios who give consent. It help the beginning to intermediate investor expand there understanding of the market and what others are doing and why.

Conclusion: A hybrid of brokerage accounts will always be in your best interest. Schwab and Zecco are what i feel make the best combination. Make sure these brokerage accounts of a "moneylink" option so funds can be transfered quickly and easily between accounts.

Always invest wisely, always verify secondary research.