BROKER TACTICS

Many brokerages offer accountsthat let you make a bunch of commission-free stock trades and avoidsales charges on mutual funds inreturn for a fee that ranges between1% and 1.5% of the assets in yourportfolio. Don't leap at one of theseaccounts if it's offered to you. You'reprobably getting the sales pitchbecause you're a light trader and thefees will generate more income forthe brokerage than the commissionson your trades. If you buy and sellstocks often, on the other hand, yourstockbroker may not have mentionedsuch an account to you, sinceyour active trading is pumping upcommissions. If you're an investorwho trades often, ask your brokerabout a fee-charging account.