ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a full-service or discount brokerage firm
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a depository institution
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the New York Stock Exchange
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the company issuing the stocks.
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Detailed explanation-1: -A full-service broker provides clients with personalized financial planning. The umbrella of financial planning covers investment and wealth management, tax planning, retirement planning, real estate planning, and risk management. The full-service broker provides their client with a relationship manager.
Detailed explanation-2: -The true difference between discount broker and full service broker then is your needs. If you have the technical prowess to trade yourself, then you might opt for a discount brokerage account. If you wish to invest but do not have the time to do so, a full service brokerage account might be a better option.
Detailed explanation-3: -A stock broker, through which you execute your trades through, is usually looked upon as a middleman of sorts between the trader and the exchange.
Detailed explanation-4: -A broker is a person or company who works as a go-between for just a client and a stock market. When a company works as an intermediary for such a client and charges the customer a fee for its services, it is referred to as a broker.