Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.
Is 1.75% a reasonable rate for fees on a brokerage account?
Muhammad in Colorado: “I’m trying to open a brokerage account and the company I use charges a 1.75% fee. Is this a reasonable rate? “
Clark’s take on whether you should pay 1.75% fees for a brokerage account
Clark says: “It is not possible: no day you want to pay that kind of money. “
If you compare the brokerage accounts of different companies, you should be able to easily beat a rate of 1.75%, says Clark, adding, “Actually, you should be able to open a brokerage account with a company that gives you advice. a little while. fraction of that cost.
Clark suggests that you take a look at the following investment firm reviews on Clark.com:
“Advice is available now starting at around 0.3%. And if you just need help choosing a wallet, it costs just 0.15% in the market.
You want to know more ? Here are the best investment companies in 2021.
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