Brokerage
Intermediary facilitating buying and selling of securities on behalf of clients.
Detailed Description
Brokerage
What are the main types of brokerages?
The main types of brokerages include full-service brokerages, discount brokerages, online brokerages, and robo-advisors.
What services do full-service brokerages provide?
Full-service brokerages offer personalized investment advice, retirement planning, and wealth management, often employing financial advisors to develop tailored strategies.
How do discount brokerages differ from full-service brokerages?
Discount brokerages provide essential trading services with lower fees but do not offer personalized investment advice, expecting clients to make their own decisions.
What are some common brokerage fees?
Common brokerage fees include commission fees per trade, management fees based on assets under management, account maintenance fees, and inactivity fees.
Why is it important to choose a reputable brokerage?
Choosing a reputable brokerage ensures compliance with regulations, which helps safeguard your investments and provides peace of mind.