Brokerage Firm - Question 24

I get a monthly brokerage account statement and I do not know how to read it. What suggestions do you have for helping me to understand my statement?

Many clients do not understand their monthly statements and are reluctant to ask for help. (They also may not check their checking account statements from their local banks each month.)

Meet with your financial consultant and have him or her explain your entire brokerage account statement so that you fully understand it. If there is any part of the statement that you don't understand, make sure it is explained to you.

If you are not comfortable approaching your financial consultant, you can speak to his or her customer service assistant and have that person explain it to you. You owe it to yourself to understand the monthly statement from your brokerage firm because you are ultimately responsible for what happens in your account. It’s your money!