Should I Switch Brokers?
Should you switch? That depends. If you are not satisfied with the service you are receiving, would like more investment options than your current broker offers or want to cut down on fees, then you should consider switching to a broker who better serves your needs.
The mechanics of moving an account are pretty simple, and your new online broker will provide forms and procedures for making that transfer. Do not forget to ask about any account transfer (or opening) fees from both your old broker and your new one. If you wish to transfer only part of your account, that is transfer some money from an existing account without closing it out completely, contact your old broker to get a check cut for the portion of money you wish to withdraw.
If you are switching from a full-service broker to a discount one, do not let your old broker talk you out of taking control of your own money.