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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

The author is paid for product endorsements and has an ownership or other financial interest in the businesses related to the topics covered.

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Opening an investment account

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email asktony@tonynovak.com.

Q: What is the easiest way to open an investment account in order to buy a stock for the first time?

A: Investment accounts can be opened by OnlineAdviser based on your verbal or e-mail request or, alternately, by downloading the forms online and mailing them with a check. There are usually no fees for opening the investment account but if this is your first time using the paid OnlineAdviser service, then there is a fee for the adviser. Either way, you still have to mail a check or wire transfer money to have funds deposited into the new account. You may purchase the stock on the same day that cash is deposited in the new account. Since this is your first stock purchase, let the adviser talk you through it. See http://www.tonynovak.com/investment.htm for more information and Frequently Asked Questions.

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