Avoid making any change until you have run the numbers and have a clear understanding of the costs.
If you are thinking about changing brokerages, compare your total expenses at your current brokerage and what your projected expenses will be at your new brokerage, including the tools and services that both brokers pay (or don’t pay) on your behalf.
If you’re working at a full-service brokerage where you are on a 60-40 split, you may be tempted to jump ship to one of the 95-5 or 100-percent brokerage firms. Before you make that decision, take a hard look at the numbers — you may be making more exactly where you are.
So-called 95- or 100-percent brokerages are mushrooming up everywhere. Although their main selling point is their…