Find a broker or planner

In order to trade on ASX you will need to have a broker and/or a financial planner.  A broker will be someone who can actually trade on ASX whereas a financial planner is someone who can help you set and achieve broader financial objectives covering shares as well as other investment classes.  Sometimes these people are one in the same, other times they may work for different organisations.  The information below will help you to find the broker or planner that will meet your needs.

Find a broker

There are a couple of things to consider before you start looking for a broker, such as: how much money you would like to invest in the market or whether or not you will need help to decide which shares to invest in.

Before you start

Questions to ask a broker

There are a lot of questions you will need to ask your broker before you start trading.  We have provided a list of questions to start you thinking.

Types of brokers

There are two main types of broker. The main difference between them is whether they offer advice or not. The major types of brokers are:

  • Full service (advisory) brokers
  • Non-advisory brokers

Full service brokers

Full service brokers offer advice on buying and selling shares and other securties,  make recommendations, provide research and  compile tailored investment plans. As full service brokers offer advice and other services you generally pay a higher brokerage fee to buy and sell shares.

Accredited advisers are also available for: Options, Warrants, and Futures.

Non-advisory brokers

As the name suggests, non advisory brokers offer no recommendations or advice regarding the appropriateness of your decision, consequently their brokerage fees tend to be lower than a full service stockbroker. This is an attractive option for investors confident in their sharemarket knowledge and trading decisions.

Non-advisory brokers are typically either internet based or telephone based.

Brokers for international trading

A number of  Australian full service brokers as well as both telephone based and internet based non-advisory brokers may offer international trading services. When trading internationally there are a number of questions you may wish to consider. We have provided a list of questions to start you thinking.

 

Newsletter article: Getting started - how to find a stockbroker and what to expect

Finding a stockbroker is a key step in starting to trade on the ASX. But there are so many to choose from, how do you make sure you find one that suits your needs?  Also what will they want to know and what should you know before you talk to one?

In this article Patricia Harrison, an Associate Director with Intersuisse stockbrokers, talks about finding a broker and what to expect.

This article appeared in the ASX Investor Update email newsletter

Find a planner

The results of the 2004 ASX shareownership study showed that financial planners were seen as the third most popular source of information and advice on direct shares with 30% or respondents saying they use a financial planner. This was only out ranked by Newspapers at 44% and Family and friends at 33%.

When respondents were asked the source that most influences their direct share decisions, financial planners ranked equally with Newspapers and Family/Friends. Interestingly, financial planners were seen as the most influential source of formal or personal advice for share transactions.

ASX introduced specialist training for financial planners to enhance their skills and knowledge of listed products.

The following register provides a list of financial planners who have completed ASX specialist education on listed products. Their contact details are listed alphabetically by state. 

Use this register to find a financial planner that has undergone specialist listed product training. 

The material contained within the 'Find a planner' section is  information only.  ASX does not represent or warrant that it is complete or accurate.  The information is for education purposes only and any advice should be sought from a professional adviser.  If you are seeking advice (including a
recommendation or opinion) about a financial product you should consult an Australian financial services licensee.  To the extent permitted by law, no responsibility for any loss arising in any way (including by way of negligence) suffered by anyone acting or refraining from acting as a result of this material is accepted by ASX.