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Meaning & use

full-service broker

noun·Advancedfinance

Last updated

UK/ˌfʊl ˈsɜːvɪs ˈbrəʊkə/
US/ˌfʊl ˈsɜːrvɪs ˈbroʊkər/

Meaning

  1. nouncountablefinance

    A stock or investment agent who, besides carrying out trades, gives personal advice, research and planning help in return for higher fees.

    Grammar: Takes a/the and a plural: a full-service broker, two full-service brokers.

    Patterns

    • a full-service broker at something
    • use a full-service broker

    My aunt prefers a full-service broker because she wants someone to plan her retirement savings with her.

    The firm assigned each wealthy client a full-service broker who called every week.

    Fees at a full-service broker are higher than at an online platform where you choose everything yourself.

Word forms

pluralfull-service brokers

Common combinations

hire a full-service broker
They decided to hire a full-service broker after inheriting a large sum.
commission charged by a full-service broker
The commission charged by a full-service broker can eat into small returns.
full-service broker versus discount broker
The full-service broker versus discount broker choice depends on how much guidance you need.
advice from a full-service broker
Advice from a full-service broker may come with a bias toward products the firm sells.
meet with a full-service broker
She will meet with a full-service broker on Monday to review her portfolio.

Synonyms and how they differ

financial adviser
A financial adviser is a wider term that need not involve buying and selling shares, whereas a full-service broker is tied to executing trades.
stockbroker
A stockbroker may simply place orders, while a full-service broker is specifically one who also advises and plans.
wealth manager
A wealth manager usually serves richer clients and manages money on their behalf, which is a step beyond what many full-service brokers do.

Opposites

discount broker

Word family

broker noun
a person who arranges deals between buyers and sellers
brokerage noun
a firm or the fee involved in brokering deals
broker verb
to arrange an agreement between parties
service noun
help or work done for a customer

Commonly confused: full-service broker or discount broker?

full-service broker vs discount broker

A discount broker only executes your orders at low cost and gives little or no advice, the opposite of a full-service broker.

Practice

Maya wants personal investment advice and a retirement plan, and she is happy to pay higher fees for it. Which should she choose?

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