Video Blog: Why Are The Account Documents So Important When Investing?
Attorney Jeffrey P. Coleman describes why obtaining your account documents is important when keeping your investments on track.
The account documents are a road map for your account.
It’s how the broker (or financial adviser)’s manager makes sure that whats done in your account complies with what you told that broker. Your financial history, your experience, your network, your objectives and your risk tolerance fits with the investments that that broker has placed in your account.
The broker’s manager has to look through your account periodically and make sure that the investments you were sold line up with what is reflected in your account documents.
If you don’t have a copy of your account opening documents, get them.