Why you should always review your brokerage statements

By April 21, 2017Blog

If you have a brokerage account, reviewing your statements on a regular basis is an integral part of being a good investor. Information on your statement enables you to keep control of your investments to ensure that the activity in your account is on course to meet your financial goals.

As a matter of fact, it’s advisable to read your statement every time you receive one. It may not be fun to look at it when the market is down, but it is your most important protection against mistakes or unauthorized transactions. Mistakes do not occur very often, but if you do not object in writing within ten days or receiving notification of a transaction, you might not be able to contest it later. That’s why it’s important to read your statement and contact your financial advisor right away if there are any discrepancies.

Understanding and reading all of your statements can provide you with very powerful information, such as performance data. After all, information is the investor’s best tool when it comes to investing wisely.

 

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