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1 of 1 people found the following review helpful
5.0 out of 5 stars Great advice for dealing with brokers, May 23, 2010
This review is from: How to Keep From Going Broke with a Broker - A Guide to Opening, Maintaining and Surviving Your Brokerage Account (Hardcover)
This is a thoughtfully written, helpful book that explains the hows and why's of working with stockbrokers. The author is a former broker with over twelve years' experience in the industry. Without warning against all brokers, he provides basic explanations for how brokers work, how brokerage accounts work, and how and why they can go wrong. A short, "no bones" read, it is thorough without being too detailed, dispassionate without being boring. Lewins gives much pithy, practical advice, intended to help the reader think for himself, reminiscent of the old adage, "Give a man a fish and he'll eat for a day; teach a man to fish and he'll eat for a lifetime." He covers all essential territory - how to know if you need a broker, types of brokers, how they make money, how to find a good one, what to expect from one, how to fill out documents, what they mean (and what not to put in them), and how to recognize and deal with problems that arise. He explains how brokers make money, points out that brokers and brokerage houses profit from volume of trades rather than wise investment strategies, tells how to evaluate investment recommendations, how to listen for what you need to know rather than just accepting a sales pitch, cold calls, seminars, walk-ins, affinity groups, fee-based brokers, commissions, complaints, discretionary authority and so on. If you read this book and follow Lewins' advice, you will know whether to use a broker or not. If you use one, you will become an active, well-informed and appropriately careful client. Lewins, who is an attorney, also tells investors how to begin to evaluate if they have a claim against a broker. He covers why and how to select an attorney, explains the arbitration process, and describes some of the claims that can arise, including whether an investment is suitable, Ponzi or Madoff style schemes, and "selling away" (where a broker sells products not offered through his own firm). There is a brief, helpful checklist in the conclusion. All in all, "How to Keep From Going Broke With a Broker" is short (96 pages), solid, and very practical, written by someone who knows what he is talking about.
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5.0 out of 5 stars Wish I Had Read It Sooner, July 10, 2013
This review is from: How to Keep From Going Broke with a Broker - A Guide to Opening, Maintaining and Surviving Your Brokerage Account (Hardcover)
This is a book everyone should read whether a first time or long time investor. It is written in an easy to understand format that explains the many ways of checking on a broker. It also tells what you can do if you are a victim of misconduct/mismanagement of your finances by your broker. I only wish I had read this book sooner.
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5.0 out of 5 stars Nice read that could save you a lot of money, June 5, 2013
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This review is from: How to Keep From Going Broke with a Broker - A Guide to Opening, Maintaining and Surviving Your Brokerage Account (Hardcover)
The book does a great job of highlighting potential red flags when dealing with a broker and explains available remedies for broker misconduct. A lot of people will wish they had read this book prior to blindly trusting a broker and losing their life savings.
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5.0 out of 5 stars Important information. Well written., September 19, 2012
By 
Dale Ledbetter (fort lauderdale,fl) - See all my reviews
(REAL NAME)   
This review is from: How to Keep From Going Broke with a Broker - A Guide to Opening, Maintaining and Surviving Your Brokerage Account (Hardcover)
This book provides a concise and easy to follow road map on how to protect yourself when dealing with a broker dealer. There is a great amount of advertising done by the securities industry, with emphasis on returns, and little explanation of risks. This book helps educate investors on "the rest of the story."
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5.0 out of 5 stars Good money management is the key to good wealth, September 14, 2010
This review is from: How to Keep From Going Broke with a Broker - A Guide to Opening, Maintaining and Surviving Your Brokerage Account (Hardcover)
Good money management is the key to good wealth. "How to Keep From Going Broke with a Broker: A Guide to Opening, Maintaining and Surviving Your Brokerage Account" is a guide to brokers and how a broker is a powerful tool in keeping one's head afloat in these financial times with so many bad investments waiting around to eat one's money. With plenty of advice on avoiding these pitfalls and keeping a plan for the future, "How to Keep From Going Broke with a Broker" is a top pick.
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5.0 out of 5 stars Better Late Than Never, May 15, 2010
This review is from: How to Keep From Going Broke with a Broker - A Guide to Opening, Maintaining and Surviving Your Brokerage Account (Hardcover)
Although the book was written after we were swindled by a dishonest broker, we were lucky enough to find Richard Lewins to represent us. The book is one we wished we had been able to benefit from before we chose our broker. It's a quick read with easy to understand guidance and should be required reading for anyone about to invest. A small investment in time and money to save costly bad decisions.
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