All brokers are schooled in the art of influencing people, no matter how "honest" they are. In fact, Dale Carnegie's book How to Win Friends and Influence People is required reading for almost every newly minted broker. That's because a broker's salary and livelihood are dependent on their ability to generate commissions. Successful brokers must convince their customers to buy or sell stocks, bonds and other securities in order to make a buck. They are taught the art of psychological warfare in order to persuade clients one way or another. So you can imagine whose interest they are really serving. It's almost never the client's. There's one very dangerous expression in their arsenal. If you hear this word come out of your broker's mouth, you should run for the hills. Your account is about to become a target. The Greatest Forces in the World Albert Einstein said that fear and greed are two of the three greatest forces in the world. When it comes to investing, the word "opportunity" is a tricky one... Admittedly, we use the word often here at The Oxford Club. After all, there are plenty of opportunities to profit from the market - even now. That said, when you hear the word "opportunity" from your broker, more likely than not, your broker is pitching their own opportunity. Not yours. A few years ago, I found myself in my own broker's crosshairs. Learning When to Pass Readers may be surprised to learn that I kept one of my investment accounts with a broker. I met him through my grandfather. Since he had always done right by my grandfather, I gave him and his firm a chance. I opened an account. I filled it with dividend stocks, set up the reinvestment plan and walked away. Every month or so, I would log in to my account online, review my portfolio and make any necessary changes. In 2015, I didn't make a single trade. It was a good deal for me, since it was a transaction-based account. That means my broker was paid only when I bought or sold something. Early on, my broker would call me, trying to convince me to diversify into more aggressive "age appropriate" growth stocks. Since I'm well-acquainted with the power of compounding, I declined. He accepted my investment strategy, and after that, we spoke once a year. There was no reason for me to transfer the account and incur any unnecessary transfer fees. Until things went south... | 
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