Share this Page URL

Lesson 9. Opening a Brokerage Account > Cash Account - Pg. 47

Opening a Brokerage Account 47 Fill Out This Form, Please Once the amount has been established, you as a new investor simply fill out a new account form just as you would at any bank. Although the information required varies, certain information remains standard. The following list is not meant to be exhaustive, but you should probably be prepared to supply some or all of the following information: Your name Your address Your Social Security Number The name of your bank and your account numbers there Account numbers at different brokerages (if applicable) Your employer Annual income Net worth Your investment objectives Citizenship Age In addition, when opening a joint account, your spouse will probably be required to provide all or some of this information as well. Finally, a credit check may be run on you. Bad credit will not necessarily prevent you from opening an account; after all, the brokerage houses don't grow by passing up new business. However, nor do they grow by making bad decisions regarding deadbeat clients, so it's a good idea to check your credit rating and straighten out any discrepancies before- hand.