Choosing a broker.
Bert recently wrote...

     We are at the point now though where we have to choose an online broker. What we're looking for is basically a  vehicle for making investments. We have other resources available to us for use in doing research etc. Can you  guys shed any light on this? There are so many brokers out there.
I wish I could say that there is one broker that is the best for all investment clubs, however, not all clubs are created equally.   Nor are all brokers.   Therefore, I can't give you a specific recommendation.   However,  I can recommend that you and your club carefully consider what it is that you are looking for in a broker and then choose your broker based upon that criteria.
For example, does your club place market or limit orders?    Does your club hold stock in street name at your broker or does your club wish to hold the stock in certificate form?   Maybe you need certificates in order to enroll in company sponsored DRIP plans.   Do you want monthly statements mailed to more than one club officer?  Do you trade online, via phone, or in person?    Do you need the availably of 24 hour support and customer service?   Might you transfer stock to withdrawing members?   What extra brokerage fees and charges is your club willing to pay?    etc., etc......
Having considered these criteria, I would suggest that you review the top brokers as listed at and
Once you've reduced the list to a few brokers, send your remaining questions to each of those brokers to get a feel for their support and responsiveness.  It is likely that one or two will shine out above the rest.
Jerry Dressel
St.Louis, Missouri