If you are a professional trader or investor, you should have open-end funds in your portfolio. These are good investment instruments to use in building up wealth. They provide a broad exposure to stocks that interest you, without your having to invest all of your capital.

Open-end funds are mutual funds that distribute new shares. These funds differ from closed-end funds in that new investors buy and sell shares through the mutual funds company. Shares in closed-end funds, on the other hand, trade like other shares on a stock exchange. You can find plenty of open-end funds information, including how to:

1. Invest in open-end funds.

2. Get help with open-end funds by using investment research firms.

3. Apply open-ends training to become a certified mutual fund specialist.

Action Steps
The best contacts and resources to help you get it done

Take the initiative to go online and invest in open-end funds

You don't need to go through a broker to start buying mutual fund shares. Mutual funds companies will allow you to open an account through their websites or by downloading the application and returning it. Sometimes, you can get open-end funds advice from the mutual funds representative. However, many times the mutual fund specialist cannot give you financial advice and will advise you to speak with an open-end funds consultant.

I recommend: American Funds has many open-end funds to select from; if you want to invest in Europe and the Pacific Rim, consider investing in the EuroPacific Growth Fund. Oakmark Funds has the Oakmark International Fund that also invests in Europe and Japan. The fund invests in mid- to large companies.

Use investment research firms to get help with open-end funds

Investment research firms provide worthwhile open-end funds information. This will help you make good decisions when it comes to picking the right mutual funds for you. These firms will provide information such as how they rate the funds and the investment fund's objectives.

I recommend: Morningstar is one of the most well-known investment research companies. You can watch its videos and get open-end funds advice. Mutual Funds Advisor also provides valuable information, such as understanding fees and strategies.

Use open-end funds training to become a certified mutual fund specialist

If you're interested in expanding your business and becoming a certified mutual fund specialist, take open-ends training courses. These online schools will provide the tools, such as the discussion board. You will receive comprehensive training on the mutual fund industry, including learning about fund and naming requirements, directors, management companies, and many other topics.

I recommend: Boston Institute of Finance provides open-end funds training. This online school will give you a background of how mutual funds started, understanding the front and back office operations, and distributing and marketing. You can also take these open-ends training courses through the Institute of Business and Finance. This accredited school has been offering this program for 20 years.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Make sure you read the prospectuses. Two pieces of open-end funds information you want to consider are the length of time the funds have been operating and their asset sizes.