Start Investing with an Online Brokerage Account

If you’re ready to start investing, here is some basic information about finding and setting up an online brokerage account

Alanna Petroff 19 September, 2012 | 6:20PM

If you are ready to start investing, the next decision you have to make is a logistical decision: what kind of account will you use to invest and build your portfolio?

Beginners may want to invest with the help of a financial adviser to gain more investment expertise, advice and perspective. An adviser will generally help you create a financial plan, monitor your portfolio and execute trades. But many investors who feel comfortable with their own investment knowledge and investment decisions may choose to invest on their own using an online brokerage account.

“Too many people spend their time wondering what [investments] to buy, when they should be considering how they’re going to manage [their investments],” said Mark Dampier, head of research at Hargreaves Landown, which offers online brokerages accounts. Having a suitable investment account is “by far the most important thing. If you don’t have the administration system and logistics worked out, you can’t manage your portfolio,” he said.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

About Author

Alanna Petroff

Alanna Petroff  is a financial journalist with Morningstar UK.

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