How to Choose the Right Brokerage Firm

3 Keys to Choosing the Right Brokerage Firm

Getting started with investing can feel intimidating — especially if you're the first in your family to do it. Without someone to guide you, it can feel like you're constantly figuring things out on your own.

If this sounds like you, you are not alone.

The good news? While investing may feel scary, it doesn’t have to be complicated.

Step 1 to getting started investing in the stock market: Open an investing account. To do that, you'll need to choose a brokerage firm — the company where your account will live. It is IN this account that you will hold your investments.

If I had to start over again, these are the three key things I’d look for when choosing a brokerage:

🔐 1. Is it Legit?

You want to make sure your money is safe. Ask yourself:

• Is this a well-known name or a startup I found on Google?

• Is the firm a Registered Investment Advisor (RIA)? That means they're regulated by the SEC.

• Do they have relationships with any investment product companies that might influence their recommendations?

• Can you find online reviews or experiences from other users — both good and bad? At some point you will need to work with customer service, find a firm where others have had great experiences with the support they received.

Your brokerage will be the one holding your assets. Do your homework to make sure you trust them.

💰 2. What Are the Numbers?

Let’s talk fees and account requirements:

• Is there a minimum deposit to open an account?

• Do they allow fractional shares (buying a portion of a stock)?

• Are there transaction fees for buying or selling? This is a big one — if your strategy involves frequent trading, those fees can add up fast.

• Are there costs to transfer assets in or out of the account?

There are brokerages with $0 trading fees, some with low fees, and some that are… well, not beginner-friendly. The less money you lose to fees, the more you can invest and grow.

Look, some of us don’t have a lot to start with — and that’s totally okay. The most important part? Just get started.

🎁 3. What About the Extras?

Some brokerage firms offer extras — and depending on your needs, they might be worth it.

Consider:

• Do they provide access to a financial advisor or investing education?

• What kind of tools or features do they offer (like portfolio tracking or automatic rebalancing)?

• Are there sign-up bonuses or promotions?

👉 For example, Robinhood currently has a promo for new customers: Open a new investing account and get a free stock to get you started. You can find more info on this bonus offer here.

🤔4. Bonus: So Which is a Good Brokerage Firm?

There are a lot of great options out there that match the criteria mentioned in this newsletter. My personal favorite is Fidelity. That is where the vast majority of my stocks, ETFs, and mutual funds are held.

Even though I haven’t used them myself I’ve always heard great things about them, both Vanguard and Charles Schwab can also be good options. In my opinion, they both match the criteria outlined above.

However…. if you are a beginner, and this is your first time ever investing… these may be overwhelming for someone like you. In that case, Robinhood can be a great option for you to learn the ropes as it is simple and intuitive to use. It also helps that they have a free stock for new customers!

💭 Final Thoughts: This Is Just Step One

Choosing a brokerage firm is like choosing the right wallet — you want something safe, reliable, and functional.

But here’s the truth:

It’s not the wallet that builds wealth. It’s what you put into it.

The best brokerage in the world won’t matter unless you start funding it with purpose, confidence, and strategy. That’s what really builds a strong portfolio — and long-term wealth.

If you’re ready to move from “just reading about it” to actually taking action, we’ve got something just for you.

🚀 Book a Free 30-Min Consult w/ Jaime Ramirez

Jaime is a former financial advisor that I work closely with as the CPA on his team. He’s helped hundreds of people — especially first-gen wealth builders like you — go from confused to confident. Here is his IG so you can check out his page and see what he’s all about.

In just 30 minutes, he’ll:

• Answer any questions you came into the call with

• Help you map out your next best financial move

• Recommend investing options that match your starting point

• Speed up your learning curve, so you can start building wealth way faster than if you try to figure it all out alone

And yes — it’s 100% free.

👉 Click here to book your free consult with Jaime. Limited spots available so these are first come, first served.

I hope you learned something new today — and more importantly, that you feel empowered to take your next step.

If you’ve read this far, I know you’re serious about growing financially. I see you, and I’m cheering you on.

See you next week,

-Neyra

*** Please remember that while I am a CPA, I am not YOUR CPA. This content is for educational purposes only, please seek the advice of tax, legal, and finance professionals on any financial decision you contemplate***