Should You Use A Financial Broker?
Whether you are selling your house, stocks or your structured settlement, annuity, life settlement, or other financial instrument, you generally have two choices; go directly to potential buyers or use a broker. If you\'re the kind of person who likes doing the research and leg work, going directly to buyers might be a good option.
But does going direct give you the most money for your structured settlement, annuity, life settlement, or other financial instrument? Unfortunately there is not a \"Yes or No\" answer, it depends on you and how good you are at research, understanding, and comparing your options.
Fortunately, you don\'t have to do one or the other. You can go direct to a few select companies and also use the services of a broker to compare quotes. While most brokers would not favor this option, it can prove valuable to you and might get you more money for your structured settlement, annuity, life settlement, or other financial instrument.
Here are a list of potential pros and cons for each:
Direct
- No broker fee
\r - More control of buyer selection
\r - Substantial time commitment
\r - Limited funding sources(buyers)
\r - Must learn industry and rely on buyers
\r - Control personal information
Broker
- Broker fee
\r - No or limited control of buyer selection
\r - Limited time commitment
\r - Multiple funding sources(buyers)
\r - Professional expertise
\r - Limited control over personal information
As with any financial transaction:
-always do as much due diligence as possible
\r -consider all the factors including experience, reputation and professionalism
\r -the highest quote is sometimes not the best option
\r -know who you are dealing with
\r -and if it sounds too good to be true...it probably is not true.
Trust your instincts.
\r For more information, please go to http://MyNoteMarket.com
Written by John Weimer, CFA
\r CEO & Founder of PegasusPolo Ventures, LLC
\r http://www.PegasusPolo.com
John Weimer, CFA
\r Mr Weimer has almost 20 years of finance and investment experience working with major insurance companies and investment firms. He also co-founded TheBizMarket.com, an on-line business brokerage.
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