facebookHave anyone created a broker-assisted trading account and how is the experience like? I feel that most don't use an actual broker these days but wondering what the experience of an actual broker like? - Seedly

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Anonymous

19 Nov 2020

General Investing

Have anyone created a broker-assisted trading account and how is the experience like? I feel that most don't use an actual broker these days but wondering what the experience of an actual broker like?

Is it really much more convenient and why did you actually get a broker-assisted one in the first place?

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Benson Ng

Benson Ng

19 Nov 2020

Financial Advisory Consultant at Phillip Securities Pte Ltd

Hello,

Nowadays with technology, online & mobile trading platform is very convenient indeed. Therefore, less clients are using broker-assisted services. However, many still prefer to have someone giving them advises and information when needed.

You maybe consider opening a PEOMs account with Phillip Securities, Jurong East Team (PS1). Whether you choose to trade (DIY) using our platform or with broker-assisted, we will still serve you well. Only main different is broker-assisted trading fees are higher. If you choose to do it yourself, you will save on the trading fees. No matter what, we will still help you when needed.

How to open POEMs account?

Benson Ng

Phillip Wealth Advisory

Sincere, Honest & Professional​​​

Elijah Lee

Elijah Lee

16 Nov 2020

Independent Financial Advisor at Phillip Securities (Jurong East)

Hi anon,

In this time and age, the value add of the broker is not in his execution of the orders (i.e. very administrative affairs), unless the market is only accepting broker assisted orders, but in his knowledge and insight that helps you to find something better to invest in, regardless of which asset class or market.

There are a few of my clients who still call in to place a trade, but they tend to be more unsure of the interface if anything. It is more convenient than trying to figure out the interface of course, but a bad investment is still a bad investment regardless of who executed the order for you, the broker or yourself.

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