Monitor Your Investments
How frequently you decide to monitor your investments should be based on your goals and investments. Expect trading prices to go up and down, and remember investing is not a ‘get-rich-quick’ scheme –the true rewards usually come over time.
It is not enough to simply check an investment’s performance. You should compare the performance against a group of similar investments over the same period of time. If you have chosen a financial advisor to assist you with your investment decisions, you should also compare the fees and commissions that you are paying to what other investment professionals charge.
It is in your best interest to check your investments regularly to ensure that there are no irregularities with your account. Every time you buy or sell an investment, you should receive a confirmation slip from your broker who is the person that buys and sells securities for you. Make sure each trade was completed in accordance with your instructions. Make sure the buying or selling price was what your broker quoted. And make sure the commissions or fees are what your broker said they would be.
Watch out for unauthorised trades in your account. If you get a confirmation slip for a transaction that you didn’t approve beforehand, call your broker. It may have been a mistake. If you have any concerns, call the Securities Commission.