A study for Aetna by Research Corp. of America found that 71 percent of men said they acted as their own financial advisor, whereas 66 percent of women sought help from financial advisors. If you do your homework before buying, there is no reason you cannot do as well or even better than financial advisors.

If you are buying a security for the first time, you may want to ask friends, your bank, or your tax accountant to suggest a stock broker. Always ask before you buy, "What services do you offer? What are your fees?" Then do some comparison shopping to be sure you will be using those services.

A full-service broker is helpful if you need investment or financial planning advice. Commissions are based on the number of shares you buy or sell (often 10 percent of the price) with a minimum charge. They may also charge a monthly account fee, a mailing fee, or a trade-confirmation fee. Fees may not always be evident to the investor.

A discount broker buys and sells at a lower rate than a full-service broker, has minimum services, and does not usually offer advice.

A deep-discount broker offers the least amount of services but the best prices. You can often buy or sell by touch-tone telephone or by computer through a discount broker.

From the company or fund. If you know what you want, you can purchase no-load mutual funds and no-load stocks (major companies that allow you to purchase stock or funds directly from them). By making the required minimum purchase, which is often quite low, you will avoid brokerage fees. A back-end load and/or a 12b-1 fee on a mutual fund will lower your yield.

DRIPs. More than 875 companies offer dividend reinvestment plans (DRIPs) which allow you to buy stock directly from a company without paying broker's fees. In most cases, in order to do this you must own at least one share of the company's stock. You can buy one share through a discount or regular broker or one of several investment newsletters that will purchase the initial share for you at a minimum fee. If you own one share you will be able to purchase more shares directly from the company on a monthly schedule or when there is a dip in the price of the stock. Many companies allow you to purchase initial shares directly from the company, thereby avoiding the brokerage commission.

Invest dividends. This is the easiest and least expensive way to buy stock and is dollar-cost averaging in action. If you buy stock in a company with a DRIP, sign the form to have all earnings immediately reinvested to buy more shares. You must keep accurate records to determine gains and losses when selling.

Financial planners. You may choose a fee-only planner, who does not sell any investments, but guides you to those that most closely fit your needs and risk tolerance. To find the nearest fee-only financial planner, call the National Association of Personal Financial Advisors (NAPFA) at 1-800-366-2732. You may also contact a commission-only financial planner, who charges a commission for the purchase of securities recommended, or a planner who charges an hourly fee plus sales commission. Currently there is no licensing for financial planners; however, some have earned titles through study such as certified financial planner (CFP) or chartered financial consultant (ChFC). Ask about their professional training and references.